Ethereum’s Istanbul Hard Fork Is Providing Scammers A New Scheme To Steal ETH, Stay Aware

There’s a new scam circulating on YouTube and Telegram, a scam that involves Ethereum (ETH) holders sending their ETH in order to get a 10 times more valuable reward. Unfortunately, the crypto space is not at all free from scams.

The fraudulent attacks are more and more complex and hard to discover. While some fraudsters are asking for the holders’ cryptocurrency holdings directly, others are using phishing command line interfaces like they did with Monero (XMR).

The Ethereum’s Istanbul Update Celebrated by Scammers

Ethereum’s Istanbul Hard Fork has been considered a success yesterday. However, it wasn’t long until some Telegram users were added to a very strange chat using the Ethereum Foundation’s name and official logo.

Even the Vitalik Buterin’s first and last names were used in the messages that were being sent in his name and announcing a 20.000 ETH (about $3 million) airdrop for the Ethereum’s Istanbul Hard Fork success and the celebration of how powerful the ETH is all over the globe.

Similar to the Litecoin YouTube scam, the fraudsters were offering about 10 to 1,000 ETH to those transferring 1 to 100 ETH to an Ethereum address. Even people in countries with harsh regulations, like the US, were invited to participate.

The Scammers Had Everything Set to Fool People

The fraudsters made a website and the previously mentioned Telegram chat only yesterday, according to the Whois Service. More than this, they broadcasted on the website a false API integration from an exploreR similar to Etherscan. According to the same Etherscan.io, only 2 transactions have been sent so far.

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Oana Ularu
Oana Ularu
Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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