GoPlus Security has exposed the latest strategies used by a sophisticated scam network to target unsuspecting cryptocurrency users, promising easy USDT earnings. At the same time, the rise of deepfake AI poses a growing concern, with malicious actors using trusted voices within the crypto industry to deceive victims, highlighting an alarming trend in crypto fraud sophistication.

The examination conducted by GoPlus Security reveals a complex deception scheme involving multiple stages, starting with small transactions to build trust and culminating in the gradual draining of victims' wallets.

The scammers operate through addresses associated with seemingly legitimate projects that offer enticing rewards in USDT for completing simple tasks. By gradually sending small tokens and minimal USDT over several days, they aim to establish credibility before ultimately deceiving users.

The primary objective is to persuade users to grant token approval permissions, often to external accounts, enabling the scammers to continue sending rewards while closely monitoring the wallets. Once certain conditions are met or suspicious activity is detected, high-speed bots swiftly siphon off the funds, emphasizing the calculated nature of the fraud.

GoPlus Security warns against granting excessive token approvals, especially to external accounts, and advocates for the use of proactive security measures on the blockchain to protect against such scams.

In addition to these findings, the article highlights the concerning trend of deepfake technology being exploited in crypto fraud, with bad actors utilizing manipulated videos to deceive investors. The dangers of deepfake AI are underscored by examples where public figures have been impersonated to promote fraudulent schemes.

By combining traditional on-chain scams with AI-assisted deception, scammers are evolving their tactics to exploit unsuspecting victims, emphasizing the need for heightened vigilance and robust security measures within the crypto community.