Cybersecurity company Kaspersky has uncovered a new scam targeting crypto users. Scammers pose as inexperienced users on social media platforms and offer fake seed phrases to lure victims into accessing seemingly valuable wallets. Once users access the wallets, they find large amounts of stablecoins but need to pay gas fees in Tron's TRX to withdraw the funds. However, the scammers have intentionally left the wallet without sufficient TRX, prompting users to transfer their funds. Once the funds are sent, they are redirected to a wallet controlled by the scammers. This seed phrase scam is part of a broader wave of crypto scams that have resulted in over $2.3 billion in losses in 2024, according to blockchain security firm Cyvers. Access control breaches and smart contract exploits have been the most significant threats, while pig butchering scams have become increasingly prevalent. These scams involve building trust with victims before convincing them to invest in fake crypto projects and stealing their funds.



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