23pds, security director at blockchain security company SlowMist, warned investors about a new cryptocurrency scam disguised as a cold wallet in a statement made on social media platform X.
In this type of scam that has recently appeared, malicious people will impersonate official agencies and create posts on the X platform that will give the impression of “official giveaways.” These posts claim popular hardware wallets like ledgers are distributed free of charge. To increase reliability, scammers send physical devices that truly look “new and sealed.”
However, experts say the real danger lies in the device itself or the accompanying “startup guide.” These wallets may have been tampered with beforehand, or you can trick users into sharing recovery phrases (mnemonics) through social engineering methods.
Slowmist emphasized that such “free money” opportunities can actually cause users to suffer huge losses and put millions of dollars worth of assets at risk.
Therefore, the wallet must only be purchased from official sources and do not allow third-party software in the installation process.
*This is not investment advice.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
