[Warning] Trust wallet tron multi signature scam.. - page 2.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

I am absolutely confused with the explanation.

Quote

Tron Multi-signature has 2 separate ways of working. In the case of the scam, it’s usually accessed by 2 Private Keys. However one of the Private Keys can control the funds in the wallet, and one cannot, although both will be able to access the wallet.

Or the scammer has the two private keys or seed phrases, but give only one to the victim to be scammed while the multisig wallet is 2-of-2 or 2-of-N.

Secondly, Trustwallet is a single key wallet. Or is it multisig? I downloaded the wallet again on my mobile device few days ago to check if the wallet is multisig or not, I found it to be a single signature wallet, with no changing addresses.

Even without the other private keys or the other public keys, how can the multisig wallet be successfully imported by the victim.

If I am wrong, that would be because I do not know much about altcoins or close source Trustwallet, and if this is true, it is really flawed.

Sorry khaled0111, thanks for the merit. I deleted the post to edit it, I couldn't see your merit before I deleted it, I wouldn't had.

348Judah

hero member

Activity: 700

Merit: 521

This is not their first time of attacks on trust wallet or any other form of centralized wallet/exchange, they keep improvising on techniques to deceive users that are not carefully minded, these are tricks that turned into something else at the long run, consider it that no one will seek for your assistance without knowing or meeting you from somewhere or platform related occasion and required your help, if he could acquire such a huge amount of coins in his disposal then there's no doubt he's an experienced user that only seek for meat to their teeth by caughting preys unaware, let's be vigilant on all forms of phishing attacks being used to device a means of an attack on users by avoiding some updates coming in forms of messages either by text or through mail requesting our help in cryptocurrency.

ScamViruS

hero member

Activity: 1694

Merit: 719

Top Crypto Casino

I got a message on Twitter yesterday from someone asking me for help! He gave all his trust wallet information, that's when I realized it was a trap designed by scammers to fool inexperienced crypto users. With the wallet information provided by him, I accessed that wallet and saw his activities. And then confirmed that it is a scam. Then I searched online and found an announcement about this scam which was updated by trust wallet team. So inexperienced new crypto users please refrain from sending any funds by being lured by someone like this.

You can also check :

Code:

12 Mnemonic Phrase Tron:                                                               
board range direct ship napkin false pilot adjust vicious small festival major                                                                                                                                   
                                                                                                 
Private key:                                                                                       
348c16ec953726b1b7be86cc04c40407c87a329f6fb54146949aab55de3944c3

How does this scam work?

Quote

What is Tron Multi-Signature?
The normal crypto wallet is single-signature. One set of Secret Phrases which have access to the wallet and one point of authority to confirm smart contracts/transactions from.
With Multi-Signature, you guess it! This adds multiple access points by having multiple private keys to access the same wallet. There are 2 methods of access to the Multi-Sig wallets.
For all you Harry Potter fans out there; imagine Lord Voldemort splitting his soul into multiple Horcruxes. Lord Voldemort is the wallet and the Horcruxes are the private keys. You have to have all the Horcruxes to control the wallet. (I’ve always wanted to use a Harry Potter reference to explain crypto… anyway!).

You can have 2 or more Secret Phrases for a Multi-Sig wallet.

The second way is to simply transfer ownership of the wallet from one set of private keys to another.

What is a Tron Multi-Signature Scam? Part 2.
Tron Multi-signature has 2 separate ways of working. In the case of the scam, it’s usually accessed by 2 Private Keys. However one of the Private Keys can control the funds in the wallet, and one cannot, although both will be able to access the wallet.
The scammer will give out the Secret Phrase that can access the wallet, but cannot control the funds, and the scammer will keep the Secret Phrase that can both access and also fully control the wallet (see the scam-explanation near the top).

The user being scammed will send Tron funds to the wallet to be able to withdraw the $USDT funds out. However the user being scammed doesn’t know that they don’t control the wallet at all. The scammer will just keep withdrawing the Tron funds that the person they are scamming sends into it. The scammer will continue to do this to multiple users, withdrawing the funds out into their own separate wallet and repeat.

So, to ensure people that are using this method with malicious intent don’t scam people - we’ve added a security warning! This will act a a way of people identifying the wallet which has control of the funds.

Source: https://community.trustwallet.com/t/trust-wallet-adds-support-for-tron-multi-signature-wallets/534456

Topic: [Warning] Trust wallet tron multi signature scam.. - page 2. (Read 474 times)