tl;dr
GoPlus Security revealed a sophisticated crypto scam involving multi-stage deception where scammers build trust by sending small USDT rewards before tricking users into granting token approvals. Once approved, bots rapidly drain victims' wallets. Users are warned against unlimited token approvals an...
GoPlus Security has uncovered a sophisticated crypto scam that uses staged micro-transactions to build trust before exploiting token approval processes to drain victims’ wallets. The scam starts by sending small USDT rewards over several days to create a false sense of legitimacy. Once users grant token approvals—often to externally owned accounts—bots rapidly drain their wallets by front-running and burning gas at high speeds.
This multi-stage deception emphasizes the dangers of granting unlimited token approvals and highlights the necessity of employing on-chain security tools to monitor and revoke suspicious permissions.
Alongside this, the rise of deepfake AI is introducing a new frontier in crypto fraud. Scammers are producing fake endorsements of fraudulent platforms using AI-generated videos of authoritative industry figures. Notable examples include deepfake videos circulating in Ghana, falsely promoting scams with fabricated endorsements from respected individuals.
Cybersecurity firms report that AI-powered scams have caused losses exceeding $200 million in early 2025. These scams employ urgent tactics, fabricate celebrity endorsements, and demand private keys or upfront payments, exploiting trust and urgency to deceive investors.
GoPlus Security’s findings highlight two converging threats: patient on-chain scams that execute careful, long-term deception, and highly convincing AI deepfakes that manipulate reputations and amplify fraud. Investors are urged to remain vigilant by scrutinizing token contracts, limiting approval permissions, verifying project legitimacy, and watching for warning signs such as unrealistic promises and suspicious urgency.
The crypto community faces an elevated risk landscape where evolving technologies empower scammers to innovate and scale their attacks rapidly. Awareness, caution, and proactive security measures remain the best defenses against these advancing threats.