Home News Scammers are trying to take advantage of ETC and ETH hardforks

Scammers are trying to take advantage of ETC and ETH hardforks

Upcoming forks in Ethereum and Ethereum Classic blockchain networks have attracted scammers. Fraudulent project Ethereum Nowa pretends to be forking away from ETH, whereas Ethereum Classic Vision does the same with ETC. Both scams are trying to steal crypto assets from gullible users.

The researchers at Guarda informed CNN that Ethereum Nowa and Ethereum Classic Vision are nothing more than scams which attempt to capture private keys and steal cryptocurrency. Fortunately, Firefox and MetaMask firewalls identify both resources as “deceptive sites”.

As specified by Guarda experts, both fraudulent websites offer investors to fork their coins and get money on the alleged new chains but instead steal their private keys and transfer the data to the servers controlled by the frauds:

“When accessing the Ethereum Nowa website, the users can click on the ‘Wallet’ button – this will redirect you to the page of…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 crypto project’s servers, masking it as an API token,” – the report reads.

Back in May 2018, the developers of Ethereum Classic announced a hard fork purposed at the removal of the so-called “difficulty bomb”.

As for ETH, November 2018 saw Vitalik Buterin stating that Ethereum team had totally given up on the idea of implementing a hybrid consensus. The team is now working on Serenity global update which will set the stage for PoS-oriented Ethereum 2.0 network.