The dark side of Ethereum: why it became the favorite coin of scammers

Ethereum Biggest Opportunity (Why These Altcoins Will Explode)

Ethereum has become the most popular coin among scammers according to Kaspersky Lab reports.

In addition to exposing the dizzying earnings of scammers in the second quarter of this year, a recently published report from Kaspersky Labs showed that Ethereum has become a favorite coin for cryptocurrency scammers. Ethereum — an obvious choice for criminals, as the coin is part of a huge network filled with the potential to commit cryptocrime. Crypto circles have repeatedly compared the ethereum blockchain with a sewer for hackers and cybercriminals, a breeding ground for which allows them to pull funds from their victims..

Kaspersky Lab specialists agreed on the following opinion: «Ethereum (ETH) is currently the most popular phishing cryptocurrency. The demand for ETH among cybercriminals is growing in direct proportion to the popularity of the ICO launch on the Ethereum platform».

The dark side of Ethereum: why it became the favorite coin of scammers

The report also reveals that Ethereum has become increasingly used on social media. In most cases, attackers offer the coin as «gift» for committing any action — joining a group or repost.

Experts note: «The most popular work style used by cybercriminals, — This is a fake distribution of cryptocurrencies on behalf of celebrities. The user is prompted to transfer a small amount of cryptocurrency to a specific wallet in order to get back the amount of two, or even three times more. To increase trust, the wallet can be located on a separate site containing a list of fake transactions that the victim can see by refreshing the page in real time. Through visualization, fraudsters reinforce in people’s minds that anyone who transfers money to a fake wallet can get back a much larger amount. Of course, in reality, the victim remains at a broken trough. While the scheme is actually very simple, it brings in incredible amounts of money to cybercriminals. Over the past four months, cybercriminals managed to use the names of Ilona Mask, Pavel Durov and Vitalik Buterin for their own purposes.».

Of course, Ethereum was not created for these purposes, but at the same time, society also cannot deny the resulting problem. As a warning, experts urge users to refuse to participate in sweepstakes related to ETH.

Earlier we wrote about how Thai actor Jiratpisit Jaravijit stole $ 24 million from foreigners.

The dark side of Ethereum: why it became the favorite coin of scammers

text: Evgeniya Likhodey

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