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Beware of the "ETH Forwarding Scam"

All Cryptocurrencies

by COINS NEWS 120 Views

Hi everyone,

I wanted to bring to your attention a lesser known cryptocurrency scam that has been making the rounds on social media and messaging apps. It involves a scammer claiming to have placed a certain amount of Ethereum tokens in a wallet, and then providing the private key or seed phrase to the victim.

However, when the victim tries to transfer the tokens out of the wallet, they notice that they need to send a small amount of ETH as a "transfer fee."

But in reality, the ETH never arrives at its intended destination. Instead, it is forwarded via a web3 script or smart contract and goes straight to the scammer's wallet, and the victim is left with no way to retrieve their tokens or get their ETH back.

There are cases where people were actually successful and emptied the scammers wallet but these attempts are usually costly and hard to pull off.

Remember, it's always important to be vigilant and do your due diligence before sending any cryptocurrency. Don't let greed or the promise of easy money cloud your judgment.

I hope this can prevent some scams. If you have any questions, don't hesitate to ask me!

submitted by /u/Schwammosaurus_Rex
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