Short Glossary of Hacks or Scams

(will be updated)

Rug Pull

A Rug Pull occurs when an individual or group deletes their online foot print after accepting investor funds. It is the same as an exit scam where the goal is to run off with investor funds.

Ukraine Donation Scam

Attempts to appear like a legitimate business that accepts cryptocurrency donations to assist Ukrainian efforts.

Fake Coin Listing

A Fake Coin Listing involves a token that claims to be associated with a real project or product but has no real affiliation.

Hacker

A Hacker in the cryptoverse is someone that steals funds from users or protocols.

Malware Scam

Malware is malicious code intended to provide disruption or unauthorized access to computer systems.

Sextortion

Sextortion occurs when individuals claim to hold sensitive or revealing information on a target that they will threaten to release unless they receive payment in crypto.

SIM Swap

A Sim Swap occurs when an individual takes control of your cell phone.

Phishing

Phishing is a tactic used by criminals to trick individuals into providing personal information that typically is associated with login information.

Seed Phrase Theft

A Seed Phrase Theft occurs when an individual gains control of your seed phrase and with it the ability to steal your crypto.

Social Engineering

Social Engineering occurs when someone attempts to gain access to accounts by impersonating a company or individual. These attacks are very common in the cryptoverse and often result in seed phrase compromises or Sim Swaps.

Ransomware

Ransomware occurs when an attacker locks up a computer system and demands payment.

Ponzi Scheme

A Ponzi Scheme in the cryptoverse involves an individual or company promising returns on products that are not sustainable. Early investors typically see success due to funds taken from later investors.

Contract Exploit

A Contract Exploit occurs when an individual exceeds access to a contract or cryptocurrency wallet, often leading to large losses.

NFT Scam

A Non-Fungible Token (NFT) Scam occurs when investors pay a mint price but never receive the item developed by a particular project.

Airdrop Scam

An Airdrop Scam occurs when scammers send fake tokens in mass to users in hopes they will visit a website that is set up to steal user funds.

Romance Scam

A Romance scam involves a criminal assuming a fake identity in order to gain a victim’s affection, which often leads to financial loss through manipulation and deception.

Pigbutchering

The pigbutchering (a.k.a. “sha zhu pan”) scam is a cryptocurrency romance investment scheme that targets victims all over the globe.

Blackmail

Blackmail occurs when a scammer threatens to release information or target an individual if they fail to pay a specific amount in crypto.

Solana Drain Attack August 2

Reports related to a widespread vulnerability involving a private key compromise that targeted the Solana ecosystem on August 2, 2022.