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Phishing For Trouble: Ethereum Tops Scammers List

  • Darryn Pollock
    📰 News

    It has become apparent, and now with a study backing it up, that Ethereum is the firm favorite when it comes to phishing scams


Phishing For Trouble: Ethereum Tops Scammers List
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A brief look at Twitter will show a fair reflection of scams that are trying to use Ethereum to entice people, to sham giveaways and other such malicious hacks. It has even led to a number of prominent figures on Twitter indicating in their name that they are not giving away ETH.

However, it is not only these types of giveaways that are piggybacking off the second-biggest cryptocurrency by market cap, a report by Kaspersky Lab has stated that Ethereum is currently the most popular cryptocurrency with phishers.

Q2 report

In its ‘Spam and Phishing in Q2 2018’ report, Kaspersky Labs said that malefactors actively used General Data Protection Regulation, the Football World Cup, cryptocurrency themes, and links to malicious websites, as well as in marketing messages served by large search engines, in the second quarter.


In terms of the cryptocurrency scams, it reported blocking as many as 58,000 user attempts to connect to phishing websites that were masquerading as cryptocurrency wallets and other related sites.

These phishing scams usual center around either cryptocurrency giveaways or exploiting the names of ICO projects to siphon funds.

Mostly from Ethereum

The report also found that the most popular cryptocurrency to use in phishing scams was Ethereum and that the popularity of Ethereum with cybercriminals increases as more funds are attracted by ICOs on the Ethereum platform.

Over the second quarter of 2018, the report stated that criminals made away with about $2.3 mln from exploiting ICOs.

The permanence of attacks targeting financial organizations reflects the fact that more and more people are using electronic money,” said Nadezhda Demidova, lead web content analyst, Kaspersky Lab. “Still, not all of them are sufficiently aware of the possible risks, so intruders are actively trying to steal sensitive information through phishing.”

Cover image via u.today
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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

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