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Scammers Get Scammed, Crypto Worth Thousands Stolen

04
Oct
2022
Scammers Get Scammed, Crypto Worth Thousands Stolen

image credit: adobe stock

The best way to steal money is by piggybacking onto other thieves, is the apparent motto of a cryptocurrency threat actor who drained hundreds of thousands of dollars worth of digital assets destined for scammers.

Analysts from Trend Micro dub the thief robber “Water Labbu,” and peg its takings as 316,728 USDT filched from nine scammers so far. USDT is a stablecoin whose value is pegged to the U.S. dollar.

Water Labbu targets fraudulent decentralized applications crated by scammers who entice victims into investing into a cryptocurrency mining scheme.

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