• South Koreans are under attack from non-fungible token (NFT) scammers who are posing as legitimate project operators to steal crypto.
• These scammers have been using phishing emails with logos of Starbucks and Lotte Home Shopping to advertise “free” NFTs.
• Victims are taken through a range of steps which eventually lead them to hand over sensitive data that can be used by hackers to break into their wallets and drain coin funds.
Overview
South Koreans are under attack from non-fungible token (NFT) scammers who pose as bona fide project operators to drain crypto from their victims. The attackers are sending out phishing emails disguised as projects affiliated with Starbucks and the e-commerce platform Lotte Home Shopping, offering “free” NFTs in order to lure potential victims. Once on these pages, victims are taken through a series of steps that lead them to hand over sensitive data that can be used by hackers for access into their crypto wallets and theft of funds.
Phishing Emails
According to security provider East Security, the phishing emails containing what appear to be pirated logos of Starbucks and Lotte Home Shopping have been distributed on a large scale. The email advertises “free” NFTs, instructing potential victims they must click on an embedded link in order to claim them. However, upon clicking there is no reward; instead it takes users through a range of steps that eventually leads them handing over sensitive data which can then be used by hackers for access into their wallets in order to drain any funds found therein.
Warning From East Security
East Security has warned the public about this scam, stating that the phishing sites had been “crafted with great care.” They advised potential victims not to click on QR codes presented, as this will install or run a crypto wallet plugin in their browsers and allow scammers access into their wallets if fees are paid for the so called ‘free’ NFTs. A spokesperson from East Security warned: “As the number of [legitimate] companies enter the NFT field increases, along with [general] crypto investment, the number of attacks that are intended to steal virtual assets will also increase. The public should check [offers] carefully before proceeding.”
Rise In Legitimate Projects
Last month Cryptonews reported various big name companies such as Amazon and Gucci may soon enter the NFT space officially due in part because of its rising popularity amongst investors. This could potentially lead more people investing into digital assets but unfortunately it may also open new avenues for malicious actors looking for ways exploit vulnerable users.
Conclusion
NFT scams continue to plague South Korea despite warnings from security providers such as East Security advising caution when dealing with offers online promising free tokens or other rewards from seemingly reputable sources. It is important for all those involved in cryptocurrencies and investing into digital assets remain vigilant both digitally and financially until greater regulation is put in place in order protect against malicious activity within this industry going forward