Telegram Verification Bots Stealing Crypto Private Keys

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The Rise of Telegram Verification Bots Stealing Crypto Private Keys

Written by Aaron S.,

Editor-In-Chief

Last Updated: December 11, 2024

Key Takeaways

Scammers use fake Telegram bots to steal crypto by installing malware that compromises wallets and private keys;
Fraudsters impersonate crypto influencers on social media to lure victims into Telegram groups with fake investment advice;
Advanced scam tools and "scam-as-a-service" models make these cyber threats harder to detect and prevent.

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The Rise of Telegram Verification Bots Stealing Crypto Private Keys

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Scammers have upped their game, combining manipulation tactics with fake Telegram verification bots to steal cryptocurrency.

According to Scam Sniffer, a blockchain security firm, these fraudsters are impersonating well-known crypto influencers on social media and using these fake profiles to lure victims into private Telegram groups under the guise of offering exclusive investment advice.

The scammers introduce a so-called verification bot named “OfficiaISafeguardBot” once someone joins the Telegram group. This bot creates a false sense of urgency, pressuring users to act quickly by completing a short verification process.

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However, instead of safeguarding users, the bot executes malicious PowerShell scripts. These scripts are designed to install malware that infiltrates systems, stealing sensitive information such as private keys from crypto wallets.

The idea of using malware to target individuals is not new, Scam Sniffer points out. However, the tools and infrastructure supporting these scams have become much more advanced.

Although this specific Telegram bot is at the center of recent cases, Scam Sniffer warns that the method could easily be adapted to mimic other bots, making the threat difficult to contain.

Additionally, scammers have transitioned into a "scam-as-a-service" model, where they supply tools to other criminals. This model enables broader phishing attacks and wallet-draining exploits.

As crypto scams grow increasingly sophisticated, they are not just limited to Telegram. Just recently, a LinkedIn scam led to a $135,000 loss, with authorities shutting down dozens of NFT fraud sites. How did this scheme unfold? Read the full story.