Recently, while reviewing data from the SlowMist Security Team, I discovered a serious issue— the number of users harmed by mining pool scams is clearly increasing. After carefully examining the stolen fund reports they submitted, I realized that these scams are more cunning than I thought.

Honestly, the tactics used in mining pool scams are not complicated, but they are extremely damaging to Web3 newcomers. The scammers target users who lack understanding of the crypto market and are eager for high returns. They craft a story that "the longer funds are stored in the pool, the higher the returns," making users unaware of being scammed in the short term. Once users can no longer continue to invest, the scammers start threatening that this will prevent their principal from being recovered. Under layered pressure, users are gradually exploited.

On Telegram, scammers impersonate well-known exchanges to create scam groups, which often have thousands or even tens of thousands of members. Many newcomers judge authenticity based on group size, thinking that a large official group is genuine. But this logic is flawed—I've seen a group with over 50,000 members, yet fewer than 100 online at a time, which is obviously suspicious. Scammers rely on such deception to confuse users.

Even more ruthless, scammers provide detailed tutorials on how to check mining pool status, download wallets, and transfer funds. After users make payments and receive rebates, they want to invest more to earn higher returns, only to fall into the trap. Some scammers even send fake coins that newcomers can't distinguish from real ones, only realizing their tokens are worthless when they try to trade.

Another covert mining pool scam involves phishing links that induce malicious authorization. Scammers impersonate official promotions for "super node mining activities." When users follow the instructions and click the links, they are directly tricked into granting authorization, and their funds are stolen instantly.

The most outrageous scams first lure users to fake platforms, manipulating data to create a false appearance of profit. Once users are deceived, scammers invite them to participate in mining pool activities, requiring daily deposits of 5% or 8% of their total USDT assets to activate the pool. Under the pressure of "if you don't keep depositing, you can't withdraw your principal," users are forced to add more funds daily, which means funds only go out and never come in, ultimately losing everything.

In the end, these mining pool scams don't rely on advanced technology; rather, their novelty and seemingly legitimate processes are highly confusing for newcomers. My advice is: first, beware of unrealistic profit promises—overly enticing opportunities are often scams; second, avoid granting permissions or clicking unknown links; third, stay skeptical—don't judge by group size alone, verify the authenticity of activities through multiple channels. I hope everyone can avoid falling into these mining pool scam traps.