FBI warns before Web 3 games scams

In a precautionary warning, the FBI has issued an alert to users who are consumers of Web 3 games. The FBI has communicated that some fraudulent applications seek to steal money from users.

In the same statement, FBI agents ask all users to use unique wallets for Web 3 applications and verify the application’s authenticity. In addition, the FBI turned on all its alerts after nearly $4 billion in cryptocurrency scams in 2022.

FBI warns before Web 3 games scams

After receiving countless complaints about Internet scams, the U.S. Federal Bureau of Investigation, known as FBI, has issued a statement warning Web 3 users about possible scams.

The FBI reports that scammers exploit users by playing games to win money. The fraudulent games promote generous reward prizes to entice victims to deposit their money into some wallets. After the victim falls into the trap of depositing money, the scammers provide fake rewards; the person then loses all the money they have in that wallet.

Given the numerous scams that are occurring, FBI agents recommend the following to users:

• Create unique wallets where unauthorized third-party access is prevented.
• Implement blockchain-independent browsers.
• Use token verifiers to check the legitimacy of applications.

Cryptocurrency frauds of nearly $4 billion

In 2022, cryptocurrency fraud will reach almost $ 4 billion. This fact alarmed the FBI and encouraged it to help Web 3 users with some preventive measures.

Of the losses in Web 3 scams, the two blockchains that have been targeted the most are:

• Ethereum
• BNB Chain

Probably the scam of the largest magnitude occurred when a hacker group backed by the North Korean government stole $620 million. They executed this theft by implementing social engineering in the Axie Infinity game; they employed fake job offers on the LinkedIn platform to steal so much money.

According to data provided by DeFiYield REKT, a database that tracks cryptocurrency scams and thefts, this heist was the largest financial hack ever.

Recently, a Forbes publication described several types of cryptocurrency scams, among which are the following:

• Investment scams
• Digital wallet fraud
• Phishing
• SIM-Swap fraud
• Upgrade fraud

According to the Forbes publication, regardless of the method they use to carry out the scam, the goal is to deceive the victims; thus being able to obtain personal information or have people transfer their money to the scammer’s account.

It is important to note that in most cases, cryptocurrencies are produced outside the country where the victim resides, so the country’s authorities cannot help the victims recover their money. So it is extremely important that all users take care of their data and thoroughly study the applications they decide to play on the web 3.

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