Scammers post a private key / seed phrase of a malicious wallet (honeypot) into a group (or to selected members within a private message), like a telegram group or discord channel, to get some of the members to send gas coins to the wallet to move the tokens in the wallet to their own wallets. The wallet is connected to a malicious smart contract, which immediately sends out the gas tokens sent to the wallet. Therefore, the people sending gas tokens to that wallet cannot move the tokens in the wallet and they lose the gas coins sent to it, too.
Avoid / turn off direct messages / Ingore strangers
Investors, who use messenger apps, should use restricting settings. Users should never trust anyone they do not know and who is contacting them in a private message. Legitimate admins of real projects will never send a direct message first.
M20
Do not send coins/tokens to unknown wallets
Users should not send coins or tokens to wallets they do not know since they may lose them.
