imToken on Security: Actions on scam prevention
In response to fake App security incidents, we have made a series of actions. Let us show you, with the help of SlowMist, our efforts in security and scam prevention.
The blockchain security auditing company SlowMist analyzed recent user feedback to catch the attention of wallet users and prevent them from frequent scams. They mentioned 1.3 billion US dollars being involved in recent scams. From the scam victim survey, 61% loss of funds is caused by fake wallet scams.
Our team made the guide in detail to explain the reason for the fund loss: token approval:
There are the following ways to trick users into fake app scams:
-Scammers send posters or links to users to ask users to download fake apps;
-Scammers use ad banners and drive natural traffic from search engines to trick users into visiting fake official websites;
-Scammers send a link to the victim to download the App and encourage the victim to buy a cryptocurrency and transfer their assets to the scammer’s wallet. The scammers kept finding excuses to ask the victim to deposit more funds and continue to steal the assets.
Besides fake wallet scams, there are some common scams that we saw in:
- Fake Discord support:
2. Elaborate scheme / rubber ducky:
3. Phishing mails:
4. Metamask QR scam and Google form scams:
5. Fake airdrop scam:
The call-for-action from imToken
- Our product team has been dedicated to the design of the features, with the details to help users from misleading fraud and wrong actions.
For example, users will get a warning sign when they try to send the token to the wrong address in imToken:
2. We reacted on time once we received user feedback on scams, and contacted Apple Store and search engine to unlist the fake app and fake websites.
For example, we release the warming message in time on most of our social channels:
3. We worked with many partners to raise the awareness of users when it comes to scam alert and prevention actions:
We worked with Tron Foundation on the scam cases and reported them in our channels:
https://twitter.com/tronfoundation/status/1467725642703978498
4. For educating beginners, imToken released security newsletter #1, which explained fake websites and wallets:
https://medium.com/imtoken/wallet-security-newsletter-1-fake-websites-and-wallets-9b4b0b59558d
imToken Wallet security letter #2: Exchange customer service scams
imToken Wallet security letter #3: Crypto wallet scams: Fake apps, texts and Mnemonics:
5. We also make user feedback analyses from time to time and write reports in more advanced ways according to incidents prevention.
imToken on Security: How to Tell if a Website or an App is Fake?
imToken on Security:10 Steps to Secure Your Computer
imToken on Security: Why Computer Encryption Helps
In the end
With more users’ trust and support in imToken, we wish to deliver a reliable and welcoming environment for our community. We will keep providing consistent customer care and work to improve our user’s sense of security. However we will need more actions from our community to join us in this journey of security improvement, we are calling all users to help to report relevant incidents and on-chain suspicious actions, become our security ambassador in Discord (https://discord.gg/EtyuwhaNkA) and Twitter @imTokenOfficial.
If you wish to know more information on security, we suggest reading carefully MyCrypto’s Security Guide:
https://medium.com/mycrypto/mycryptos-security-guide-for-dummies-and-smart-people-too-ab178299c82e
Binance academy about security issues：https://academy.binance.com/en/articles/general-security-principles
For future information about the scam report and security issues, stay tuned with our imToken on security articles:
