Several major banks in the crypto and NFT industry have issued warnings about a new banking scam known as “Jet Frog” that is affecting a growing number of banking customers. News.com.au has reported that millions of customers are being advised to be vigilant for pending withdrawals labeled “Jet Frog” on their credit and debit card statements.
The first signs of the scam were brought to light by a victim who noticed a pending Jet Frog transaction for $0, which is an indicator of potential fraudulent activity. Subsequently, other victims have reported unauthorized purchases following small initial charges from Jet Frog.
This scam, which is now surfacing in Australia, has also been reported in Europe and the US dating back to 2021. Experts in the crypto and NFT field speculate that the scam is using brute force attacks to guess potential debit/credit card numbers, which are then tested with small transactions. If successful, larger unauthorized purchases follow.
As a precaution, individuals are advised to monitor their bank statements closely and to contact their banks immediately if they notice any transactions from Jet Frog. Terminating the affected credit or debit card is recommended to prevent further unauthorized charges.
In light of the spread of this banking scam, individuals in the crypto and NFT industry should remain vigilant and stay informed about potential security threats in the financial sector. Keeping abreast of these developments is crucial to ensure the safety and security of digital assets in the evolving landscape of financial technology.
