The Russians created a fake wallet Electrum: How to identify a Scam and not to fall into the trap

Kriptonyte always been the target of criminals and hackers. This is a new form of money allows you to move them around the world without any obstacles, what makes the niche so popular among hackers. Right now, the ratings GitHub is gaining new Electrum wallet, which in reality is not what it claim to be.

Another fake crypto

Most cryptocurrency enthusiasts and veterans know that not all programs on the Internet can be trusted. The community has repeatedly recorded many attempts to deceive the naive cryptonomicon by using fake purses, which are simply stealing the money. It seems that the trend is on the decline is not going to go. Recently there were reports about a new purse-a copy of Electrum, which is actively promoted on GitHub.

If someone does not know, Electrum is an open-source crypto code. The application code can be downloaded from GitHub. Savvy cyber criminals from Russia used this opportunity and created its own wallet, which quietly steal the money of users.

According to information NullTX, a fake web wallet is hosted on Russian hosting Exodus. The main difference from the original blast zone .one, while the real purse is running on the domain .org. It is likely that Russian hosting was hacked, but the problem may be much more serious. The repository in GitHub called “Electrvm” instead of “Electrum”, and this is a direct indication of a malicious intent.

Fortunately, Metamask, and EthAddrLookup already brought this host in the blacklist. As a result, most users will not be able to download a fake wallet.

Now that the secret is out, will be interesting to see how long will last this website and the wallet. Since fake domain Electrum.one was a few months ago and it still works, its complete elimination may require a little more time than expected. It should be noted that until now, information about the victims from the hands of fraudsters is no.

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Definitely not a Scam: more than 50 percent Hasrat Bitcoin Cash controls one pool

The centralization of Bitcoin Cash has reached a new level — now half Hasrat cryptocurrency controls only one pool. According to experts CoinDance, mining pool BTC.TOP today responsible for 50.2 per cent Hasrat BCH. Its total capacity is 679 peachesa per second. BTC.TOP shares money with BTC.COM (257 of peachesa), ViaBTC (215 peachesa), AntPool (125 peachesa) and Bitcoin.com (187 peachesa).

Centralization as it is

Today the main topic of discussion in the Bitcoin community Cash is a high probability of an attack 51. Earlier cryptocurrency Roger Faith have not once criticized for being too centralized. The project has not passed the “stress test” an anonymous developer under the name Bitpico. The programmer found out that 98 percent of all the BCH node connected to one server, which could lead to a potential break-in.

The Central aspect of any decentralized blockchain is the ability to withstand pressure on the system and to prevent the intervention of any centralized organization. Attack 51 itself carries a great danger for the cryptocurrency, as it can totally destroy any project.

Recall another fork of Bitcoin Bitcoin Gold has suffered from the attack. 51 in 2018. Hackers for several days to re-spend coins BTG and the total amount stolen $ 18 million.

In some cases crossing the 50 percent barrier may occur unintentionally. In 2014, the GHash pool.io has “captured” more than half Hasrat Bitcoin. After a wave of disturbances in cryptocommunist the pool management decided to reduce their capacity so as not to undermine a lucrative business.

BTC.TOP can go on the same way. If a large miner will agree to reallocate processing power within the network of cryptocurrency, it will increase investor confidence in Bitcoin Cash. Otherwise, the BCH may be endangered.

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Stellar: Stellar Activity Hardwork — an outright Scam

Fourth place in the ranking Coinmarketcap is, of course, a good result. That’s just the growing popularity of the asset cause activation of Scam — Stellar claims that the material with detailed analysis of different kinds of fraudulent schemes was typed on a series of publications, which is the platform I decided a detailed analysis of “hard forks” Stellar Activity.

Sad news for those who managed to believe in the promises of the unknown, raskruchivaya so-called hardwork Activity in the network. December 9, it did not take place. For one simple reason — nobody was going to make any hard forks, it was only a pretext to get to token of Stellar gullible cryptoendoliths.

Or inexperienced — it is worth considering that not so long ago, Stellar announced and began to carry out large-scale airdrop, promising XLM $ 25 for each user account Blockchain.com who signs up to participate in the promotion. Perhaps the scammers, in anticipation of an influx not too experienced captainvalor who have free crypt, also decided to take advantage of this chance.

“The Stellar Activity — cute logo, website, average attendance Telegram channel. They promise (for free) two new token XLA for every single XLM. All this is not uncommon for the world of cryptocurrency. So there was a Bitcoin Cash and most other clones of Bitcoin. However, this is 100% Scam, designed to lure your hard-earned XLM”, — stated in the message of the official account of the Stellar Guard.

The authors give three sign pointing to the fraudulent nature of the scheme.

1) Scamera promise a reward for the dissemination of information on Stellar Activity. The more potential victims of the Scam, the better, so the scammers do not skimp on the promise.

2) Special conditions. Two new token for each XLM is a good deal. But if someone is looking for special conditions, we can now list the XLM kindly provided by fraudsters address, then to obtain 30 new token for each Stellar Lumen. While scameron managed to collect 9.6 thousand XLM, which at the current rate accounted for slightly more than $ 1 thousand That is, people voluntarily moved them a cryptocurrency with real value, hoping to get 30 for each new token, which today do not venture to identify anybody. However, the authors themselves Stellar Guard note that in itself such a scheme has no fundamental differences from the average ICO.

3) the Presence of “special wallet for hard forks”, that is the most serious warning signal. Shortly before the date hard forks of scamera announced the creation of the “official wallet Stellar Activity”. Users are prompted for a private key, to get their tokens XLA. What happens to a user whose secret key from the purse, where he keeps Stellar, goes straight on xlawallet.com to explain in detail is not necessary.

A similar fate has befallen users Stellar, who believed the organizers of the “hard forks Dolphin” that evaporated along with their crypt. Stellar Guard believes that this may be the same people that Activity — at least, special purses Scam both projects use a similar method of extracting data of the user.

Team Stellar notes that Activity — definitely not the first and hardly the last Scam-a project of this kind. And encourages users to pay attention to suspicious signs, like the three mentioned items, do not hesitate to ask questions and not to neglect the additional security measures, such as, for example, purses with multipoles.

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Elon Musk: Ethereum is a Scam, but I want him, too

Elon Musk — the man, the myth or the legend? What would you about it or thought it is difficult to deny that, though indirectly, but it affects the cryptocurrency. According to recent reports, Elon now jumps on the train Ethereum, though, and suspects it may be a Scam.

In fact, everything that happens is connected with epidemic of fake accounts on Twitter, according to which Musk is actively promoting Ethereum. As we all know, Twitter was flooded with fake accounts offering free Ethereum, provided that they send a small amount of cryptocurrency to the purse (of course, owned by the scammers).

The Twitter team have taken great care to eliminate impostors, but to this day this problem has not been solved, and with her face. Only so Elon Musk allegedly called Ethereum a Scam. In fact, he was joking, but his words were misinterpreted.

In his last tweet Musk wrote a response to the comment of one user who asked whether Elon to send them ETH. Musk, who is aware of the activities of bots, jokingly responded to the question, solemnly promising that all will receive the promised ETH. Since his answer came as a surprise to all Twitter users quickly flocked to a branch of discussion to continue the conversation. After receiving hundreds, if not thousands of posts about ETH other cryptocurrencies and Blockchain technology, a world-renowned entrepreneur made a last remark about the situation:

“I also want ETH, even if it is a fraud.”

The fake accounts is a very big problem that has plagued the crypto community on Twitter. The best way to protect yourself from imposters and fake hands — just ignore them. Nobody gives away expensive cryptocurrency for free, the world doesn’t work like that. Use Twitter to publish their research focus on the websites you are interested in projects. Don’t be naive and you will be safe.

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Scheme of earnings on masternode: reality or Scam?

Each cryptocurrency investor has its own strategy for work during the rising and falling of the market. Some invest in the ICO and await the recovery of the market; some are doing day trading, and part of investing in masternode.

Dash is the most popular cryptocurrency for masternode. When the cryptocurrency was worth just a dollar per unit, the developers abandoned the model of the proof-of-work and introduced a system of proof bets.

This scheme has been extremely successful, both in terms of network management, and as investment for the people who invested in masternode. Especially during the rise of cryptocurrencies in 2017. At the peak of prices was necessary to invest 1.5 million dollars in the Dash in order to create your own masternode.

Read also – How to earn cryptocurrency: an introduction to masternode

Thanks to this success, many other cryptocurrencies have decided to copy this model. But unlike Dash, which is at least the minimum demand in real life, most of these cryptocurrencies are absolutely useless as a means of payment.

The illustration below shows the top 10 coins that use the system mastered. Most of these volumes are virtually absent.

Crypto winter of 2018, with particularly negative impact on these investors. Peak prices on Dash was fixed at $ 1,580 per coin, and today it is trading at $ 320. Little-known coins still showed the worst results.

Although the cryptocurrency cannot be called fraudulent in its pure form, it is clear that work on such a scheme is profitable only in a bullish market.

Obviously, to maintain this scheme in the operating state, the cryptocurrency should be used for something other than investment. So developers is extremely important to focus on making their own cryptocurrency and to pursue its use in the Commission of transfers, P2P payments, etc., and not to enter system mathsrand and hope that people will start using this cryptocurrency. Newer projects, such as the Origin Protocol, Dadi, Essentia, REMME and Zencash plan on adding masternode in the future. But it is not the defining function, but only an addition to other, more useful functionality.

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Break the pattern: German cryptocurrency project, which drew $ 50 million, pretended to be a Scam to attract more investment

18 APR Frankfurt startup Savedroid popular, which grossed over $ 50 million investment just disappeared with the money collected during the ICO. CEO and founder of the project and Yassin Hanker after arisen among investors panic, have issued the following tweet:

“Thank you all! The end… #savedroidIC”

Savedroid German ICO, collecting money from February 9 to March 9, 2018. The description reads: “the Ecosystem of crypto-savings for everyone.”

Savedroid promised to develop a service for portfolio investments in the cryptocurrency, which enables even inexperienced traders to successfully invest. It was also stated on the release card to output tokens and pay for the goods.

The project pages in social networks were available, however, the new publications were not. The project site showed a meme from South Park: “IIiii… he’s gone!”

Runaway businessman on communication did not leave. Almost every user of cryptocurrency, decided that such a promising and ambitious project was the most common fraud. Especially all struck by the arrogance of the organizer, who shamelessly showed investors a selfie from the airport as well as the sea.

Was organized by the “search expedition”, for example, representatives of the blog Cryptobriefing claimed that they were able to track the location of a cheater for the above tweet. The combination of Egyptian beer and the background in the photo pointed to the fact that it is located on the red sea coast, Movenpick resort in the Egyptian El Quseir. The authors of the blog to an aggressive form called to track and capture the criminal. About the project wrote CCN, Finance Magnate, Cryptovest, Crowdfund Insider, Bloomberg. Perhaps the hype over Hanker can be compared only with references to Vitalik Buterin and Charlie Lee.

But a day later the situation has changed dramatically. Yassin Hanker he made contact with a loud statement that his escape is a prank and a way to show investors how the scope of the ICO needs to change. The changes that Savedroid can realize with the help of their new services.

The first service is as simple to use, and most importantly — free, a list of items that will allow “just a few minutes to evaluate any ICO to make an informed investment decision”. The second product is already paid and intended for the organizers of the ICO. The service will allow them to design a campaign that corresponds to antisamos policy.

This method of promotion of new services have caused anger cryptocurrency community that it is not momentary prilnula to bring down on the heads of Ancira and his team:

“What a horrible idea! Do you know what experiences your trick was worth to investors? And now you’re going to give advice on the ICO”.

“What you did was unethical, immoral and absolutely disgusting. You robbed people enough time. People donated money to those who said that went bankrupt because of your project. Your so-called “lesson” was ill-conceived and will cause the petition to remove you from the position of CEO!”

In his video on YouTube and Yassin Hanker explained that just wanted to show investors how easy it is ICO-startup to hide their money. According to him, the current situation threatens the future success of cryptocurrency startups and requires actions. Savedroid willing to share their knowledge with regulators and authorities to change things for the better, says Hunker.

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In India arrested the organizers of cryptocurrency Scam project cheated investors for $300 million

Amit Bharadwaja and his brother Wijekumar, the founders and leaders of GainBitcoin, established in 2013, cloud-based platform for mining and trading bitcoins, appeared before the court. They are accused of large scale fraud.

The organizers assured users that GainBitcoin provides reliable trading environment for the more than one million of its customers. However, according to International Business Times, the site was a Ponzi scheme where investors were promised a 10 percent monthly profit for 18 months.

Swindlers charged with fraud 8000 investors across the country, in the amount of $ 300 million.

According to the police Commissioner of Pune Rashmi Shukla, the defendants were arrested immediately after the arrival from Bangkok to Delhi. She also added that in case are still a few people who are currently on the run. Finding them engaged in the three units of the police.

In addition GainBitcoin, Bharadwaja opened its first online retail store in India — Highkart, which allowed him to pay in bitcoins. However, the project ceased operations in 2016. This year he created Amaze Mining & Blockchain Research, CoinBank Wallet and GBMiners — all of these are somehow connected with bitcoin and bloccano.

In addition, Amit Bharadwaja has written several books about the blockchain and cryptocurrencies, including the “Cryptocurrency For Beginners”, “Cryptocurrency Trading” and “Cryptocurrency Mining”. Looks like Bharadwaja, he could not stop and always want more. Unfortunately, to achieve their goals, the brothers decided to go fraudulently to usurp the means of thousands of people.

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