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• How it Works: Scammers send fraudulent communications (email, text, social media DM) that appear to come from a legitimate, trusted source, like a major exchange (Binance, Coinbase, Kraken), a DeFi protocol, or a wallet provider (MetaMask, Ledger).

• The Crypto Twist: The message creates extreme urgency or fear (e.g., “Suspicious withdrawal detected on your account! Click here immediately to cancel it”) or leverages greed (e.g., “You have been whitelisted for a massive airdrop! Connect your wallet now”).

• Goal: To make the victim click a malicious link that directs them to a fake login page that perfectly clones the real one, where the victim enters their username, password, or even their 12/24-word Recovery Phrase (Seed Phrase).