Scammers are targeting crypto users with new ‘zero value TransferFrom’ trick

Data from Etherscan shows that some crypto scammers are targeting users with a new trick that allows them to confirm a transaction from the victim’s wallet, but without having the victim’s private key. The attack can only be performed for transactions of 0 value. However, it may cause some users to accidentally send tokens to the attacker as a result of cutting and pasting from a hijacked transaction history.

Blockchain security firm SlowMist discovered the new technique in December and revealed it in a blog post. Since then, both SafePal and Etherscan have adopted mitigation techniques to limit its effect on users, but some users may still be unaware of its existence.

1. “Exercise caution and verify the address before executing any transactions.”
2. “Utilize the whitelist feature in your wallet to prevent sending funds to the wrong addresses.”
3. “Stay vigilant and informed. If you encounter any suspicious transfers, take the time to investigate the matter calmly to avoid falling victim to scammers.”
4. “Maintain a healthy level of skepticism, always stay cautious and vigilant.”

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