Today we received a report of a sneaky trick that scammers use to steal your crypto assets. It revolves around "masking" a network's name to make it seem like you're sending some inconsequential token, while you're actually sending valuable assets 😱

We've all seen popups like these, when a website prompts us to switch our wallet to the required network. But in this case there's something weird going on: we're adding the network called "Totally Not A Scam" with symbol "SCAM", but it has the same chain ID as BNB Chain 🤔

This is possible because the name and symbol are not specified onchain. So if you add this network and then the website prompts you to send a transaction, it might seem like you're sending worthless "SCAM" tokens, while in reality you're sending your valuable BNB to the scammers.

Now MM does offer some warnings when adding a network that doesn't match their records (see left). But they also provide some pretty similar warnings for valid network names (see right). So it can be hard to miss the extra warning about the currency symbol.

So make sure to always double check what it's actually adding when a website requests to add a new network to your wallet. Use your best judgment and stafe safe out there! 🫡

Today we received a report of a sneaky trick that scammers use to steal your crypto assets. It revolves around "masking" a network's name to make it seem like you're sending some inconsequential token, while you're actually sending valuable assets 😱

We've all seen popups like these, when a website prompts us to switch our wallet to the required network. But in this case there's something weird going on: we're adding the network called "Totally Not A Scam" with symbol "SCAM", but it has the same chain ID as BNB Chain 🤔

This is possible because the name and symbol are not specified onchain. So if you add this network and then the website prompts you to send a transaction, it might seem like you're sending worthless "SCAM" tokens, while in reality you're sending your valuable BNB to the scammers.

Now MM does offer some warnings when adding a network that doesn't match their records (see left). But they also provide some pretty similar warnings for valid network names (see right). So it can be hard to miss the extra warning about the currency symbol.

So make sure to always double check what it's actually adding when a website requests to add a new network to your wallet. Use your best judgment and stafe safe out there! 🫡