If you’ve been on the internet lately, you’ve probably run into a comment that might look something like this:
“I really appreciate your efforts! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?”
Or this:
“Great analysis, thank you! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?”
Now, if you know anything about crypto, you’d know that this comment breaks the golden rule of crypto- NEVER share your seed phrase, especially in YouTube comments!
However, when I first saw this, I was very interested as to how this scam worked. I did a bit of research, and found that these crypto wallets do in fact hold some crypto! So, all you need to do is open the wallet using the seed phrase provided, send that wallet some gas, and transfer the money to your own wallet, right? Right?…
How the Scam Works
I hate 99% of scams, but this one in particular interests me, and I actually kind of like it. Why? For this scam, you need to do the wrong thing to get scammed.
These wallets are using some type of custom code, where when you send it the gas required to transfer the funds, you can kiss that money goodbye. The scammers will not allow you to take the funds out of the wallet.
For that reason, you have to do the wrong thing to get scammed here. Honestly, I don’t really mind that!