Ethereum Wallet Scams and Phishing

It is well known that during a panicked state, high brain function stops and we are more vulnerable to scams. The current market dips definitely have an emotional toll and scammers are exploiting its. Scammers are using our weakened states to trick us into accidentally revealing our ethereum wallets and other logins. The most common form of the scam is the usage of fake websites, known as phishing attacks. These websites are malicious and will attempt to steal the keys to your wallet and take ALL of your hard earned crypto currency. For example:

This is a screenshot of a scam trying to disguise a fake website as MyEtherWallet. MyEtherWallet.com is safe, but the thieves managed to make an exact clone. The clone looks EXACTLY the same, but with one key difference, if you input your key and password, it will send that to thief and they will gain complete access to your account.

Beware of the familiar

Many of these attempts use familiar sounding names and use exact replicas of websites. This is why people fall for them EVEN though they have been warned or are vigilant. Sometimes we are distracted and accidentally click on it, then go through the mechanical motion of logging in with our private key.

“PLEASE NOTE: These links do NOT take you to MyEtherWallet. If you hover over the link it will redirect you to: “myetherwallet.ch, .tech, .com.de, etc.” Basically anything other than the official site!”

Fake emails

Whilst has been warned many times, it takes one time of dropping our guard before getting caught. Many emails are innocent and disguise themselves as warnings or informational articles.

Remember to stay vigilant, consider using well stored paper wallets or hardware wallets.

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Michael Gu, Creator of Boxmining, stared in the Blockchain space as a Bitcoin miner in 2012. Something he immediately noticed was that accurate information is hard to come by in this space. He started Boxmining in 2017 mainly as a passion project, to educate people on digital assets and share his experiences. Being based in Asia, Michael also found a huge discrepancy between digital asset trends and knowledge gap in the West and China.