Yearn Finance’s copy fraud tries to steal the keys from visitors

Yield Farming’s decentralized financing platform Yearn Finance has a stuntman who trick visitors into sharing the private keys of their cryptocurrency wallets.

Yearn Finance’s fraudulent website perfectly copies almost every aspect of the original yearn.finance website except for the design, website copy and even the domain name. The scammers behind the website chose the domain name “yaerm.finance”, which makes it look very similar to “yearn.finace”.

They also advertised their landing page for the search term “Sehnsuchtsfinanzierung”, which is why it appears at the top of search results when looking for the actual website.

The fake address (in red) above the real address (in green).
Yearn Finance’s copy fraud tries to steal the keys from visitors
Yearn Finance’s copy fraud tries to steal the keys from visitors

As soon as a user clicks on the ad, they are taken to the yaerm.finance page, which looks exactly like the official Yearn Finance website. However, after scrolling down from the first window that appears, you find that the website has a strange guide to “seven easy hairstyles”.

Similar to the original website, The fraudulent website also offers six different options in the first window. These include Board, Vaults, Win, Zap, Hedge and Statistics.

Regardless of which option a user clicks, they’ll be taken to a page asking users to plug in their wallets.

When users try to link their wallets, the scam site will display a list of crypto wallets for them to choose from.. A pop-up window will then appear asking users to release the private key or passphrase.

Copy fraud is relatively common in the crypto space. Another website disguises itself as a trust wallet to mislead cryptocurrency users.

Crypto india wrote On Twitter, scammers have sent dust – a very small part of a cryptocurrency that cannot be traded or transacted – from Binance Coin (BNB) to random cryptocurrency wallets. Each of these transactions had a memo informing users that they had earned 30 or 50 BNB tokens and included an external link to “claim” those tokens.

The Trust Wallet-like website has a call-to-action that says “Claim Prize” and, when clicked, opens a window asking users to enter their private keys.

Users who are new to the world of cryptocurrencies and are unaware of the importance of keeping their private keys “private” can easily fall for these scams and give scammers easy access to their funds.

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