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Scammers Jump on STEPN Craze, Private Keys at Risk -Breaking

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Fraudsters Jump on the STEPN Craze. Private Keys are at Risk

Numerous websites impersonating the highly popular move-to-earn NFT game ‘STEPN’ have flooded the internet and are targeting unsuspecting users, cybersecurity experts warned earlier this week.

Peckfield, a blockchain security company shared that the team discovered numerous phishing web sites designed to imitate Solana’s STEPN and steal private keys from NFT wallets.

According to experts at Peckfield, fake STEPN websites can contain fraudulent digital wallet plug-ins. These plugins could be used later on to steal private keys of unsuspecting victims.

According to them, phishing websites trick users into providing private information like their wallet’s private keys or seed phrases, which are required to access funds within the wallet. These websites often have the same domain names as legitimate ones but with slightly different domains. This is what imposters try to replicate.

The fraudsters typically promise giveaways and steal the private data once the unsuspecting victims connect their digital wallets to claim the advertised “free tokens”. They find that the majority of victims are unaware of their private keys and drain accounts, which allow fraudsters to access their digital holdings.

Peckfield warns that digital wallets such as MetaMask (NASDAQ:), Coinbase (NASDAQ 🙂 Wallet and Phantom Wallet are often used to launch malicious attacks against fake STEPN sites.

The STEPN Team has yet to comment on the attack against its users.

NFT gaming and the fitness app have taken cryptocurrency by storm since it launched a way for people to make passive income simply by exercising.

The price of STEPN rose by almost 3,600% since then and move-to earn has seen 1.7 million users.

The sprouting of these scams seems to have done little harm to STEPN’s price in the past 24 hours as the game’s governance token, GMT, climbed up by more than 8% to $3.47 earlier today. STEPN sits at approximately 11% under its April 20th record of $3.80.

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