FBI: New crypto scam involves NFT developer spoofing

The FBI has warned about ongoing phishing attacks involving the impersonation of non-fungible token developers to facilitate cryptocurrency and digital asset theft, The Hacker News reports. Attackers have been either leveraging NFT developers' social media accounts or establishing spoof accounts to create misleading ads of new NFTs, which include links that redirect to a phishing site resembling a certain NFT project's extension, according to an FBI advisory. Potential targets are then lured by the spoofed website to link their cryptocurrency wallets and proceed with the NFT purchase, with attackers then exfiltrating cryptocurrency assets that are then obfuscated through the use of various mixers and exchanges. Users have been urged by the FBI to verify the legitimacy of social media accounts promoting NFTs to prevent compromise. Such a warning follows an FBI advisory warning about the significant increase in pig butchering scams, which resulted in $2 billion in losses last year.