Technology

8 sneaky crypto scams on Twitter right now

Cybersecurity analyst Serpent has revealed his picks for the most dastardly crypto and nonfungible token (NFT) scams currently active on Twitter. The analyst, who has 253,400 followers on Twitter, is the founder of artificial intelligence and community-powered crypto threat mitigation system, Sentinel. In a 19-part thread posted on Aug. 21, Serpent outlined how scammers target inexperienced crypto users through the use of copycat websites, URLs, accounts, hacked verified accounts, fake projects, fake airdrops and plenty of malware. One of the more worrisome strategies comes amid a recent spate of crypto phishing scams and protocol hacks. Serpent explains that the Crypto Recovery Scam is used by bad actors to trick those who have recently lost funds to a widespread hack, stating: “Simply put, they attempt to target people who have already been scammed, and claim they can recover the funds.” According to Serpent, these scammers claim to be blockchain developers and seek out users that have fallen victim to a recent large-scale hack or exploit, asking them for a fee to deploy a smart contract that can recover their stolen funds. Instead, they “take the fee and run.”

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