Scam Sniffer, a blockchain security company, warned crypto investors that they are at risk of malware scams via social media platforms. Telegram as compared with the Traditional phishing techniques.
While phishing still causes substantial losses—estimated at nearly half a billion dollars in 2024—its growth has plateaued.
Scam Sniffers reports that Telegram malware is a growing and severe threat. It allows the attackers access to multiple wallets, and can extract sensitive data directly from devices.
The number of these attacks has increased by over 2,000% from November 2024 until January 2025.
The scam is a simple one.
The firm claims that malicious actors are now infiltrating Telegram communities, which is a popular messaging app among crypto enthusiasts, instead of impersonating prominent figures from the crypto world.
Scam Sniffer has noted that attackers are luring their victims to fraudulent Telegram groups by posing as trusted invites. The hackers use deceptive tactics to lure their victims into the Telegram groups. They may also create fake trading platforms or airdrops.
These deceptive methods activate malicious software on the devices of victims. In this breach, attackers can access sensitive information such as crypto wallets and browsing data.
Scam Sniffer highlighted that this strategy shift reflects crypto users’ growing awareness of conventional phishing scams and attackers’ evolution beyond basic wallet connection scams.
Improve security
Scam Sniffer warned crypto users that they should exercise caution, and take strict security measures, to reduce these risks.
The firm advises crypto users to avoid taking risks like installing untested software or running commands that are not known. The firm also advised crypto users to use secure wallets and stay cautious when using social media.
Blockchain security firm also stressed that legit crypto services would never require their users to install or execute verification tools.
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