Recently, a disturbing cryptocurrency scam has emerged where attackers disguise asset theft as innocent transfer tests. Victims report losing their entire wallet balances after scanning a QR code to send a small "test" transaction (often just 1 USDT).
This article exposes how these QR code transfer test scams operate through real-case blockchain forensics, providing crucial security awareness for crypto users.
How the Scam Works
At its core, this scam tricks users into granting wallet authorization through deceptive QR codes. Here's the step-by-step manipulation:
Trust Building Phase
- Scammers connect via social platforms posing as friendly OTC traders
They establish credibility by:
- Offering slightly better exchange rates
- Sending small USDT amounts first
- Providing "free" TRX for gas fees
The Trap
After gaining trust, they send a payment QR code with instructions to:"Send just 1 USDT as a test transaction"
Technical Execution
Our analysis reveals:- The QR code redirects to a fake third-party site (e.g., sktnid[.]com)
- Site mimics legitimate platforms with fake "OKX Verified" badges
When users enter amounts and click "Next", they're directed to:
- A wallet signing request
- Malicious smart contract interaction
- Unauthorized asset transfers
Case Study: Chain Analysis
Bitrace's investigation of address TT...m1mV1 shows:
- 27 victims in just 7 days (July 11-17, 2024)
- $120,000 USDT stolen
Funds laundered through:
- 5-layer address hopping
- 3 Huione money service accounts
👉 How to check wallet address risks
Protective Measures
OTC Trading Rules
- Never trade outside verified platforms
- Verify counterparty identity thoroughly
- Reject all unsolicited QR codes/links
Transaction Safety
- Always check receiving addresses with blockchain analyzers
- Never sign smart contracts from unknown sources
Recovery Options
- Immediately revoke suspicious token approvals
- Report to authorities with blockchain evidence
FAQ
Q: How do scammers steal funds through QR codes?
A: The QR codes contain malicious smart contracts that gain wallet approvals when scanned, allowing asset transfers.
Q: What should I do if I've scanned a suspicious QR code?
A: 1) Immediately transfer remaining funds to a new wallet 2) Revoke all token approvals 3) Report to blockchain security firms.
Q: How can I verify OTC traders safely?
A: Use platforms with identity verification and escrow services. Check the trader's transaction history and community reputation.
Q: Are small test transfers actually safe?
A: No. Any interaction with unknown smart contracts carries risk, regardless of transaction size.
👉 Secure crypto trading practices
Conclusion
This scam exploits users' willingness to perform "harmless" test transactions. Remember:
- Treat all unsolicited QR codes as potential threats
- Use security tools like Bitrace's upcoming risk-screening tool
- Report suspicious activity immediately
Stay vigilant - in Web3, your best security is knowledge and caution.