This is the latest crypto scam uncovered.

Prominent blockchain security company SlowMist recently exposed a sophisticated crypto scam targeting users through physical transactions with USDT.

This scam uses a deceptive modification of the Ethereum node's Remote Procedure Calls (RPC).

A new crypto scam has opened

Crypto fraud works by first gaining the trust of unsuspecting users. The scammer convinces the target to download a legitimate imToken wallet, then sends 1 USDT and a small amount of ETH as bait.

The trap is set when the fraudster convinces the user to change their ETH RPC URL to a node controlled by the fraudster. This hacked node displays a fake USDT account, tricking the user into believing that they have earned huge amounts of money.

Unaware of the scam, the user tries to transfer mining fees to withdraw the USDT, only to discover the scam after the funds fail to materialize and the scammer disappears.

“The trickiest aspect of such scams is exploiting users' psychological weaknesses. Users often only focus on getting the funds into their wallets, seeing the potential risks. Fraudsters use this trust and indifference, such as transferring small amounts of money, to trick honest users.” They use strategies,” said SlowMist analysts.

Read more: 15 most common crypto scams to look out for

The main technology misused in this scam is RPC, which is necessary to communicate with blockchain networks. It allows users to check balances, create transactions or engage with smart contracts. Typically, wallets connect to secure nodes by default.

However, connecting to an untrusted node may result in malicious changes to the displayed balance and transaction details.

Further investigation revealed that the fraudster's address transferred 1 USDT to three different addresses. All of these have previously committed similar fraudulent activities. This address is linked to marketing forums and linked to pork scammers.

SlowMist advises cryptocurrency users to maintain a high degree of skepticism and improve security measures to protect against such fraudulent financial schemes.