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New Phishing Bot hits crypto wallet MetaMask

Botsfolio

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12 May, 2021

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MetaMask – a Crypto wallet provider has alerted its users of a new phishing bot that attempts to steal their seed phrases. In a tweet published Monday, MetaMask warned users that the bot attempts to direct users to a fake “instant support” portal where they are prompted to enter information into a Google Doc. The organization indicated that it is all a phishing scam, and users should be extra careful.

The cryptocurrency wallet also advised its customers to notify them about the phishing bot as the MetaMask app has this option on its platform.

How it Works?

The phishing bot seeks to guide users to an ”instant support” portal, and then it prompts them to enter personal information into a Google Doc. This form then asks for the secret recovery phrase that can be used to respawn users’ crypto wallets. MetaMask stated that it does not have a Google Docs-based support system, urging users to seek support from the “Get Help” option within the MetaMask app itself to avoid being scammed.

Popularity Invites Attacks?

MetaMask has seen real progress recently. The wallet is now being used by more than 5 million people – a substantial milestone, showing the growth in the entire ecosystem and especially in DeFi.

Interestingly enough, MetaMask finds huge popularity in southern countries where many people experience problems with the local banking system and see the wallet as a safe and trustworthy option. Some of the nations in the top 10 list include India, Indonesia, Vietnam, and Nigeria.

But with the increased total of MetaMask users comes the problem with security as it is hard to protect a number of customers from the wit of hackers. The new phishing bot is not the first attempt to scam people out of their crypto.

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