The integration of web3 wallets into mainstream trading platforms heralds a new era in digital finance, blending the realms of cefi and defi while also raising concerns about increased vulnerability to crypto fraud.

According to Bitrace and WuBlockchain, the integration of web3 wallets into mainstream trading platforms like OKX and Binance signals a significant shift. This fusion of centralized finance and decentralized finance is reshaping user interaction with digital assets and decentralized applications. However, this transition is not without its pitfalls, particularly regarding fraud risks.

The convenience of integrated wallets comes with a hefty price: an upsurge in cryptocurrency fraud. Notable cases include fake BNB yield fraud, where scammers offer high returns for depositing Ethereum (ETH) into a fake liquidity pool, and the holding USDT mining L1 token scam, where victims are lured into transferring asset permissions under the guise of lucrative mining protocols. The prevalence of selling fake USDT scam further highlights t

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Author: Bralon Hill

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