- MetaMask warned customers against responding to or believing in any Facebook notification from what looks like the official Facebook page of the crypto-based platform.
- The popular Ethereum wallet, MetaMask, reported the scam on its official Twitter account.
Scammers are finding newer and more believable means to fool vulnerable people every single day. With their inherent decentralized character, crypto platforms have held the infamous reputation of being a home ground for criminal activity.
Scams dominate the crypto crime world with a whopping USD 8.6 billion’ worth cryptocurrency involved in just 2019. This has led to millions and millions of victims.
As law enforcement agencies struggle to detect, prevent and warn people about such scams, scammers have found another way to trick users and this time, using Facebook.
The popular Ethereum wallet, MetaMask, reported the scam on its official Twitter account. The scammers are targeting users using the social media platform, Facebook, and trying to scam them under the identity of MetaMask.io.
Be careful! Some scammers have realized that Facebook allows spamming anyone by sharing their photos. We are not conducting a FB giveaway, please exercise skepticism towards any crypto giveaway. pic.twitter.com/k35jttIpxG
— MetaMask (@metamask_io) January 31, 2020
The platform which is particularly famous for allowing users to access Ethereum enabled Dapps issued the warning for its users at around 11.30 AM on January 31st, 2020. The tweet read as below:
In a case of suspected phishing, MetaMask warned customers against responding to or believing in any Facebook notification from what looks like the official Facebook page of the crypto-based platform.
Phishing, according to the Oxford dictionary, is “the fraudulent practice of sending emails purporting to be from reputable companies to induce individuals to reveal personal information, such as passwords and credit card numbers.”
Scammers have reportedly created a Facebook page, which is a replica of any official MetaMask account. Then, they are using that account to spam users by sharing photos of users and thus entering their notifications.
Here, the fraudsters claim to be conducting a giveaway from the company to attract users to reveal their sensitive information. If sufficient care not taken, anyone may fall for the trap. The tweet also clarified that the platform is not conducting any giveaways.
In the replies to the above tweet, a user who goes by the name Dan Finlay questioned Facebook on its practices and effectiveness in handling Phishers. He doubted their ability to secure the platforms cryptocurrency venture, Libra from scams and other fraudulent activity.
The user also questioned the social media platforms’ structure where anybody can impersonate a business.
Was it @facebookdesign to let any scammer impersonate a business and notify users freely? Surely this is fixable if either the follower list was private or you didn’t get notifs from stranger shares by default. A warning to indicate a stranger?
— Dan Finlay (@danfinlay) January 31, 2020
He further talks about the ability of a stranger to send notifications to anyone and suggests the platform to fix the problem. Admittedly, it’s now up to Facebook to handle this menace.