There’s a troubling new scam-scheme (I’m trademarking this) that’s apparently only targeting Web3 users. According to blockchain security company CertiK, a new type of scam called “ice phishing”, which was first identified by Microsoft, where Web3 users are tricked into signing permissions via wallet transactions that allow the scammer to spend their tokens and other dubious activities. 

Recently, 14 BAYC’s were stolen using an elaborate and targeted ice phishing scam, where the user was convinced to sign a transaction request disguised as a film contract. From there, the scammer was able to sell all of the BAYC’s for a negligible amount to themselves. 

I believe this has been a scam that’s been occurring for ages now, where fake contracts are signed through wallet transactions, giving the scammer certain access to the victim’s wallet, but I guess now we have a proper name for it. AS ALWAYS, BE CAREFUL WHEN SIGNING ANYTHING. I highly suggest using services like Fire, which activates when a wallet transaction is initiated, it simulates the transaction, and gives you the results on what you might be signing. This can save headaches of losing all of your hard-earned tokens and NFTs! 

Written by: nikethereum.eth / Medium / Mirror