Scam Warning
Watch-only wallets can be a tool for scammers – be aware!
It is impossible to retrieve funds from a watch-only wallet without the private key. If anybody is pressuring you to send them money to "unlock" or "access" the funds in a watch-only wallet, they are scamming you. You will lose your money and will NEVER be able to access those funds.
If the person contacting you promises to give you access to the account, they are scamming you – you will lose your money and it cannot be recovered.
What is a Watch-only Wallet?
Watch-only wallets are "view-only" accounts in Nova Wallet. They allow you to monitor any public address by adding it using only the account's public address – no private keys or seed phrases required.
This feature is designed for:
Testing Nova Wallet before importing your real accounts
Tracking your portfolio across multiple wallets
Monitoring cold storage balances without exposing private keys
Following public figures or friends' on-chain activity
Important: Watch-only wallets are for viewing only. You cannot send transactions or access funds because you don't have the private key. If anyone contacts you with the promise that they will give you access to funds, they are trying to scam you.
How the Scam Works
Unfortunately, Watch-only Wallets have started to be used by scammers:
Contact: A scammer contacts you (via social media, messaging apps, or email) claiming they have a "crypto opportunity" or "locked funds".
The Setup: They guide you through adding a watch-only wallet to Nova Wallet that displays significant funds (often $10,000+).
The Hook: They tell you that for a small fee (typically $100-$400), they will give you "full access" to this wallet.
The Scam: You send them money, expecting to access thousands of dollars
The Reality: The scammer disappears with your payment. You can never access the watch-only wallet funds because you don't have the private key – and neither does the scammer
Common Red Flags for Scams
Someone asks you to add a watch-only wallet and promises you'll get access to the funds
They pressure you to send money to "unlock," "activate," or "verify" an account
They claim you need to pay fees, gas, or taxes before accessing funds
They found you unsolicited on social media or messaging apps
They're rushing you or creating urgency ("limited time offer")
They ask you to keep the "opportunity" secret
They tell you an emotional story about how they urgently need your help
Stay Safe
✅ Too good to be true: If something seems too good to be true, it is. No one is going to give you free money.
✅ Remember: If you didn't create the wallet and don't have the seed phrase or private key, you will NEVER be able to access those funds – no matter how much money you send to someone.
✅ Never send money to access funds in a watch-only wallet. It's impossible, and you will lose your money.
✅ Block and report anyone who approaches you with this type of scheme.
✅ When in doubt, ask the official Nova Wallet support via email: [email protected]
✅ Admins will never DM you – no one from the Nova Wallet team will ever DM you, they will NOT ask for any private information or your passphrase. Be aware that scammers will try to impersonate Nova Wallet team members.
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