A Major Scam Targeting Cryptocurrency Investors on TikTok – Watch Out for These

23pds, Chief Security Officer (CISO) of crypto security firm SlowMist, revealed a major cryptocurrency theft case that came to the fore with an emergency call made during the night.

According to information obtained, approximately 50 million yuan (approximately 6.9 million USD) worth of crypto assets were stolen overnight through a cold wallet purchased by an investor on TikTok.

It was reported that the private key of the wallet in question was seized while it was still being created. After the theft, the digital assets were quickly washed off the platform called Huiwang, and all traces were lost.

Following the incident, 23pds warned investors about fake hardware wallets. It stated that 99% of the devices sold on the internet under the names of “new, unopened” or “special campaign” could be fake and may have been tampered with in advance. The security expert emphasized that investors should only obtain cold wallets through official and reliable channels.

Many listings on social media feature wallets being offered for sale for slightly less than the value of the assets inside, and almost all of these listings are being targeted by scammers at unsuspecting investors.

*This is not investment advice.