Singapore Entrepreneur Loses Six Figures in Crypto to Game-Testing Scam
A Singapore-based entrepreneur has lost a six-figure sum in cryptocurrency after unknowingly downloading malware disguised as a game-testing program.
Key Takeaways:
- A malware-laced fake game test drained more than $100,000 in crypto from an experienced Web3 investor within 24 hours.
- A polished website, active Discord and responsive team helped the scam bypass early suspicion.
- The incident highlights rising malware threats and the risks of keeping seed phrases in browser-based wallets.
Mark Koh, founder of victim-support organization RektSurvivor, shared details of the incident in an interview with Chinese-language outlet Lianhe Zaobao and in a LinkedIn post.
According to Koh, the scam began on Dec. 5, when he encountered a beta testing opportunity on Telegram for an online game called MetaToy.
Polished Website and Active Discord Helped Lure Victim Into Crypto Scam
Koh said he was convinced the project was legitimate due to its polished website, an active Discord server, and responsive team members.
As someone who has invested in and evaluated multiple Web3 projects, he said the setup did not initially raise red flags.
The situation changed after he downloaded MetaToy’s game launcher. Koh said the installer quietly uploaded malware onto his computer.
Although his Norton antivirus software flagged suspicious activity, Koh attempted to contain the issue by running full system scans, removing suspicious files and registries, and reinstalling Windows 11.
Despite those efforts, the damage had already been done. Within 24 hours, every software wallet connected to his Rabby and Phantom browser extensions was drained.
In total, Koh lost 14,189 USDT, or roughly 100,000 yuan, representing crypto he had accumulated over eight years.
Koh said the attack appeared highly targeted and urged others, particularly angel investors and developers who are more likely to download beta software, to take additional precautions.
He advised users to remove seed phrases from browser-based wallets when not actively in use and to consider using private keys instead of seed phrases to limit exposure across derivative wallets.
The fraud has been reported to Singapore police, which confirmed to Lianhe Zaobao that it has received a corresponding report.
The MetaToy incident comes amid a broader rise in malware campaigns targeting crypto users.
In October, McAfee warned that hackers were abusing GitHub repositories to keep banking malware connected to new servers.
This year has also seen fake AI tools, malicious Captchas and compromised Ethereum code extensions used to spread crypto-stealing malware.
Investor Loses $3M in Crypto Phishing Scam
In August, a cryptocurrency investor fell victim to a phishing scam, losing $3.05 million in Tether (USDT) after unknowingly signing a malicious blockchain transaction.
The loss, flagged by blockchain analytics platform Lookonchain on Wednesday, underscores the rising threat of phishing attacks targeting digital asset holders.
The attacker exploited a common habit among crypto users: validating only the first and last few characters of a wallet address while ignoring the middle.
Crypto investors lost over $2.2 billion to hacks, scams, and breaches in the first half of 2025, driven largely by wallet compromises and phishing attacks, according to CertiK’s latest security report.
Wallet breaches alone caused $1.7 billion in losses across just 34 incidents, while phishing scams accounted for over $410 million across 132 attacks.
You May Also Like
First family moves on from Wall Street as Eric Trump backs crypto
SEC Staff Clarifies Custody Rules for Tokenized Stocks and Bonds
