Crypto thieves are resorting to stealing from themselves, after a new scam has been making rounds mainly on Youtube that would bamboozle even the trickiest tricker out there.

The whole scam begins with a simple question that says:

"I have USDT stored in my wallet, and I have the seed phrase. How do I transfer my funds to another wallet?"

Security firm, Kaspersky, noted that specific wallet held over $8,000 worth of stablecoins on the Tron blockchain, making victims believe that this is in fact a novice who is in need of help.

But this is not just a crypto novice, but a cleverly laid trap, because these stablecoins are help in a multi-signature wallet, and theoretically require a gas fee to be able to withdraw funds.

This trap would often attract the attention of thieves, who would try to gobble up the funds by sending Tron's TRX tokens to the wallet, only to find their tokens mysteriously evaporating into another wallet controlled by the scammers of the trap.

Because the bait wallet is set up as a multi-signature wallet, the authorisation of ongoing transactions in such wallets would require the approval of two or more people, and the money that is transferred to the personal wallet won't work and instead gets transferred to somewhere else.

The predator becomes the prey

In a turn of events, the scammers who are impersonating beginners who foolishly share access to their crypto wallet are actually tricking naive thieves, who end up becoming the victim.

There are some who are even calling these scammers Robin Hoods because of how these schemes primarily target other crooked individuals.

This scam is lone event, with several instances across the internet teeming with similar comments from new accounts, all of which dangled the same seed phrase.

But these gas fees are typically cheap adn cost less than $10 across most blockchains, meaning that the hustle is likely to target wannabe thieves instead of being a complex operation that is aiming to steal thousands, or even millions of dollars.