A set of fraudulent schemes involving distributed wallet applications have been discovered by Confident, according to Bitcoin.com. Web3 hackers steal seed phrases and steal tokens through clone wallets.
According to their report, the programs are distributed through reputable websites that clone themselves, giving the user the impression that they are downloading original software.
Web3 compatible wallets, such as Metamask, are the target of hackers. When it comes to designing attacks to steal tokens, hackers are getting more and more inventive. Confident, a company that assesses the quality of advertisements and the security risks they can pose to Internet users, has raised the alert about a new type of attack that affects users of popular Web3 wallets like Metamask or Coinbase Wallet.
According to the study, ordinary users can hardly identify these clone apps because they are almost similar to the original apps.
Always download apps from official stores!
Thanks to their mastery of SEO optimization, the URLs of these applications will appear sometimes high on search engines. This allows them to be well placed to deceive Internet users into believing that they are visiting the real site of a crypto platform or wallet provider.
NFT investors have already been cheated like this.
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The experts at Confident have presented a number of tips for keeping wallets safe on your smartphone. As these malicious programs are not available outside official app marketplaces, Confiant recommends users to always download them from App Store or Google Play.
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