Crypto Scams

Alert !! Ethereum Classic and Ethereum users loosing money due to fork concerns

Ethereum Classic

Scammers in Ethereum and Ethereum Classic are allegedly trying to steal money from users of both the chains. Additionally, Nowa will also fork away from ETH.  Guarda, an enterprise which offers web-based solution claims that both these forks are scams. The web wallets at both Ethereum Nowa and Ethereum are scams. They make attempts to capture private keys and several users have lost assets using this methods . Firefox and MetaMask have also witnessed the scam and identified Ethnowallet as a “ deceptive site”.

Stealing Private Keys

Users have been  promised that they will be able to fork their coins and get money on the alleged new chains.More importantly, Guarda discovered that both of these alleged crypto projects were capturing private keys and transferring the data back to their servers. This is a clear red flag. Any wallet implementation that doesn’t explicitly tell you that it’s storing your coins is not a good option. There are several other ways to fork coins.

Also Read: Report : Ethereum Classic 51% Attack and its Implications

But, we don’t have any reason to believe these chains will exist. But given their track record already of trying to capture people’s ETH and ETC private keys, it’s unlikely that any legitimate forks will result.

The report from Guarda states:

When accessing the Ethereum Nowa website, the users can click on the “Wallet” button – this will redirect you to the page of Ethereum Nowa wallet creation/importing your old wallet. This is exactly where the trap lies. Ethereum Classic Vision looked more solid at the first glace, but the analysis on the code performed by our team has shown that the piece of code provided actually sends your private key data on the Ethereum Classic Vision servers, masking it as an API token.

Also Read: Hackers turn Belgian Non-Profit FEB’s Twitter account Into Fake Coinbase Promo Account

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