According to the latest findings by blockchain security firm PeckShield, the top two gas spenders on the Ethereum network are zero transfer scammers.

The scammers are using fake wallet addresses to trick users into sending money to these addresses, with the aim of compromising the victims' wallets.

It is known that zero transfer scammers are mainly targeting Ethereum Virtual Machine (EVM) chains.

Fraudsters create fake wallet addresses that resemble their potential victims' real addresses. They transfer zero tokens from any wallet with the help of the “TransferFrom” feature via a smart contract. In such a way, they are able to create a fake wallet history with zero transfers to trick innocent victims.

(By Alex Dovbnya)