One of everyone’s worst fears is to log into one of their financial or investment related accounts only to see a big fat zero looking back at you. Unfortunately, that’s what happened to the users of the bitcoin gold wallet called MyBTGWallet which turned out to be a scam after it robbed its users of more than $3 million.

The exact number is believed to be close to the $3.3 million mark. Bitcoin Gold was there second derivative coming from bitcoin and it has not had the best of starts to its release was its website has been under almost constant DDoS attacks since it was launched.

Details of How MyBTGWallet Scammed Its Users

It is believed that this theft was completed by the owners of MyBTGWallet and the website has been removed. It appears that they managed to falsely lead their users into a trap by telling that the bitcoin gold could be claimed in an easy and cheap manner, which allowed them to be trapped by this malicious scheme.

They had been required to submit their private keys in order to create their bitcoin gold wallets. As soon as these people had agreed to this requirement, the website owner had access to all of the funds that were in their wallets, which they proceeded to send to their own addresses.

It is believed that the developers of bitcoin gold are currently looking into this matter and are liaising with a number of different security experts.

This is what they had to say on the matter “When we receive verifiable reports that a website or app is a problem, we removed it from our site… It appears the mybtgwallet online wallet site was modified by unknown parties long after it was originally published.”

Bitcoin Gold had been enjoying a new surge last week after a major crypto wallet manufacturer called Satoshi Labs, who created Trezor, made the announcement that they would be integrating bitcoin old into their Trezor wallets.

After this news was released, there was a new introduction of cash into the market and the liquidity improved, with prices rising from $1650, up to over the $300 mark.

Satoshi Labs have already outlined how it is possible to claim bitcoin gold if they already have a wallet with Trezor.

It was on November 12 that bitcoin gold initially went live and due to the high level of interest it initially garnered, a lot of wallet manufacturers decided to integrate it into their offerings. FreeWallet has even launched their dedicated bitcoin gold wallet.

MyBTGWallet Scam Conclusion

After the news about the scam at MyBTGWallet was announced, many people involved in cryptocurrency investing got a wakeup call as they were shown just how easy it is to be stripped of your cryptocurrency if you give away sensitive data. It is hoped that users learn their lessons after this scam.

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