Identifying Telecom Fraud and Preventing Phishing Attacks

With the growing adoption of encrypted assets, scam tactics are also evolving. From telecom fraud impersonating customer service to phishing websites disguised as official platforms, the methods of attack are becoming increasingly stealthy.

To help users enhance their security awareness, NewCoin has compiled the following common scam techniques, key identification points, and preventive measures to assist you in better protecting your account and asset security.

I. Common Telecom Fraud Techniques

1. Impersonating Customer Service / Official Personnel Scammers often proactively contact users impersonating the following roles:

• Customer service personnel of exchanges

• Staff of project teams or partners

• So-called "regulatory agencies" or "risk review departments"

• Airdrop or event administrators

Common scripts include:

• "Your account is experiencing abnormalities and requires immediate verification."

• "A large transfer has been detected and frozen; please provide the verification code."

• "Assisting you with upgrading your account permissions."

• "Providing your seed phrase can help us recover your assets."

⚠️ Please note: No legitimate NewCoin official will ever ask you for your password, verification codes, private keys, or seed phrase.

2. Phishing Links / Phishing Websites Attackers may forge the following pages:

• Fake exchange app download pages

• Fake official event or airdrop pages

• Fake wallet connection (Connect Wallet) pages

• Fake announcement or bonus pages

Their goal is typically to trick you into:

• Entering your seed phrase or private key

• Approving high-risk wallet permissions

• Signing a malicious contract

Common characteristics include:

• Domains extremely similar to the official address, differing by only one or two characters.

• Emphasizing phrases like "act now" or "limited-time upgrade."

• Guiding you to sign unknown contracts or grant full approvals (Approve).

3. Community Scams (Telegram / Discord / X, etc.) Scammers may claim via private messages that they can:

• Help resolve account or transaction issues

• Have access to "insider information" or "guaranteed profit opportunities"

• Invite you to join so-called "VIP profit groups"

• Guide you to participate in high-yield investments or transfers

Once you trust them and proceed, funds can easily be transferred away and are difficult to recover.

4. Fake Apps / Fake Browser Extensions Some malicious software disguises itself as:

• Wallet browser extensions

• Exchange apps

• Project team tools

Once installed, they may steal your private keys, seed phrases, or directly transfer your assets.

II. How Can Web3 Users Quickly Identify Scams?

1. Legitimate Officials Will Never Ask for Sensitive Information Never provide the following information to anyone:

• Seed phrase

• Private key

• SMS / Google Authenticator codes

• Wallet screenshots containing private information

Anyone asking for this information can immediately be identified as a scammer.

2. Carefully Verify Domains and URLs Legitimate websites must have a domain name exactly matching the official one.

Recommendations:

• Confirm the use of HTTPS.

• Access sites only via the official website or official app.

• Avoid clicking links provided by third parties.

• Be vigilant against fake domains like:

  • newco1n.com (letter 'i' replaced with number '1')

  • newcoin-exchange.net (non-official suffix)

3. Verify Information Through Official Channels Scammers often copy official profile pictures and bios. Always obtain information from:

• Official NewCoin announcements

• Links redirected from the official website

• Verified official social media accounts

• Links within the NewCoin App

4. Be Wary of Suspicious Information Characteristics The following behaviors are highly suspicious:

• Proactive private messaging

• Urging you to act immediately

• Promising high returns or risk-free gains

• Guiding you to join unfamiliar groups

• Offering "insider information"

• Sending shortened links (e.g., bit.ly)

III. How to Effectively Prevent Phishing Attacks?

1. Do Not Click Unfamiliar Links Casually Especially those from:

• Private messages

• Community QR codes

• Search engine ad results Always access platforms through official entry points.

2. Check Authorization Details Before Signing Contracts Avoid blindly signing:

• Unlimited amount approvals (Unlimited Approve)

• Unknown contract calls

• Permissions allowing spending of all tokens You can use the following tools to review and manage authorization risks:

• Revoke.cash

• Etherscan Token Approval Checker

• DeBank's Approval Manager

3. Implement Asset Segregation Management Recommendations:

• Use a hot wallet for daily operations.

• Use a cold wallet for long-term asset storage.

• Avoid connecting your main asset wallet to unfamiliar websites.

4. Enable Two-Factor Authentication (2FA) Apply 2FA to exchange accounts, email, and social media accounts. Recommended tools:

• Google Authenticator

• Authy Using only SMS verification is not recommended to prevent SIM swap attacks.

5. Regularly Update Software Versions Keep the following up to date:

• Operating System

• Wallet extensions

• Browser

• Exchange App This effectively reduces risks from vulnerabilities.

IV. What to Do If You Suspect You've Encountered a Scam?

• Stop all operations immediately. Do not approve, transfer, or click links.

• Change your account passwords as soon as possible.

• Use authorization management tools to revoke any suspicious permissions.

• Contact official customer support only through the NewCoin official website or App.

Remember: It's never too late to seek help. Asset security should always be the priority.

V. Summary: Golden Rules for Identifying Scams

🚫 Officials will never ask for your seed phrase or private key. 🚫 Do not resolve account issues via private chat. 🚫 Do not easily believe promises of high returns. 🚫 Do not casually click unfamiliar links. 🚫 Do not blindly sign contract approvals.

By adhering to the above principles, you can avoid the vast majority of Web3 scam risks.