Ethereum's virtual currency generates the largest number of cryptocurrency scams

August 19, 2018 at 3:41 pm // News

  Being the well-known cryptocurrency behind Bitcoin, Ethereum seems to be the perfect choice for scammers to do illicit business and remain anonymous.

Kaspersky Labs recently conducted research showing that Ethereum is the most commonly used digital currency for fraudulent activity. Being the well-known cryptocurrency behind Bitcoin, Ethereum seems to be the perfect choice for scammers to do illicit business and remain anonymous.

"Ethereum (ETH) is currently the most popular cryptocurrency with phishers.The popularity of Ethereum with cybercriminals increases as more funds are attracted to ICOs on the Ethereum platform.According to our very rough estimate (based on data received from over a thousand ETH portfolios used by criminals), during the Q2 2018, cybercriminals exploiting ICOs managed to make $ 2,329,317 (exchange rate at the end of July 2018), the traditional phishing not included "Kaspersky
Services .

Among other points in its quarterly report, Kaspersky Lab has devoted a series of comments on the situation of the encrypted market, in particular the virtual currency of Ethereum. A cyber security and anti-virus provider pointed out that Ethereum is the best cryptographic currency for hackers and criminals.

Schemes of fraud in social networks

A particular attention in the report was dedicated to the tributes of Ethereum organized in social networks by "celebrities". However, all these sweepstakes are normal fraudulent schemes performed by fake accounts or bot scams. The names of Pavel Durov, Vitalik Buterin and Elon Musk were very favored by scammers for their malicious adventures.

The scheme is simple and simple. The fake account of celebrities asks users to transfer a small amount of money to a specific portfolio and promises to double or even triple the number of coins in return. A scammer also creates a separate website with a portfolio, in which the list of false transactions is found. It is no surprise that a naive crypto owner receives nothing at the end.

It is obvious that Ethereum's blockchain was not designed to become part of fraudulent schemes, but users need to be more cautious with this token, especially when it comes to gifts.

Source link