Every day, thousands of cryptocurrency users lose their funds to phishing sites that look indistinguishable from legitimate wallet services. But what happens behind the fake “Connect Wallet” button? Where does your seed phrase actually go?

We intercepted live HTTP traffic from 5 active phishing sites, downloaded their complete source code, and traced every data exfiltration endpoint to its final destination. This investigation reveals the full anatomy of modern crypto phishing — from the social engineering tricks that make you type your seed phrase, to the Telegram bot that delivers it to the attacker in real-time.