Attention: A New Type of Cryptocurrency Scam Has Emerged! Here Are the Precautions to Take

The security director of the blockchain security firm SlowMist, 23pds, warned investors against a new cryptocurrency scam disguised as a cold wallet in a statement made via the social media platform X.

In this recent type of fraud, malicious individuals create posts on the X platform that give the impression of an “official lottery” by impersonating official institutions. These posts claim that popular hardware wallets like Ledger are being distributed for free. To increase credibility, the scammers send physical devices that look genuinely “new and sealed.”

However, according to experts, the real danger is hidden in the device itself or in the “setup guide” sent along with it. These wallets may have been tampered with beforehand, or users may be directed to share their recovery phrases (mnemonic) through social engineering methods.

SlowMist emphasized that such “free earning” opportunities can actually lead users to significant losses and put millions of dollars worth of assets at risk.

Therefore, wallets should only be purchased from official sources, and third-party software should not be allowed during the installation process.

*This is not investment advice.

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