๐จ Beware of the Seed Phrase Honeypot Scam! ๐
This clever scam preys on curiosity and greed โ and ends with users losing real money.
๐ How It Works:
1. A seed phrase appears in a Telegram group or tweet โ often with a screenshot showing a wallet holding thousands of dollars in tokens.
2. It looks like someone accidentally leaked their wallet backup phrase. Some users fall for it and try to โrescueโ the funds.
3. They import the wallet into MetaMask and see the balance โ but canโt transfer anything because thereโs no ETH for gas.
4. So, they send a small amount of ETH to the wallet...
๐ฅ Thatโs the trap.
A bot, owned by the scammer, is monitoring the wallet 24/7. As soon as ETH hits, it instantly drains the funds. The tokens were just bait โ fake, unsellable assets made to look valuable.
โ ๏ธ Why it works:
The wallet does belong to the scammer. The โleakedโ phrase is intentional. The fake tokens are smart-contract traps. Itโs all designed to lure you into funding the scam yourself.
๐ซ Never trust a public seed phrase.
If a wallet really held thousands of dollars, ask yourself โ why hasnโt the owner recovered it? Simple: itโs a trap, and youโre the target.
๐ Share this post to protect others.
Knowledge is your best defense in crypto.
#CryptoScamAlert #SeedPhraseScam #CryptoSafety #BinanceSquare #BTCWhaleMovement