One lesson you must learn in the cryptocurrency industry is that money doesn’t grow on trees. Those that have not learnt this lesson are the reason why crypto scams such as ETH Now thrive. For some reasons, I wouldn’t place the link of this site here so that many others would not be fooled by what this scammer does.
Someone just reported that they lost $10,000 to this scam giveaway site because the scammer impersonated a Youtube influencer they know and trusted. Now the question is
“Why should you trust strangers you met online and just pass them money?”
A Scam Giveaway
There are many people out there who cannot think of any other way to make a living besides stealing from others. The fellow behind ETH Now is obviously one of them. According to the victim, he had been following a YouTube channel in a bid to invest in cryptocurrency having quit his job after making some savings.
According to a post he made on BTT,
“I got into crypto to make money. I followed some of the great YouTube channels to learn all great information.
One night I went out, watched a movie in theatre and came back home. It was around 1 AM, I got a YouTube notification from a channel I was following, I was reading the comments of the video where a scammer posted a comment saying, there is a free crypto giveaway happening right now from one of the biggest crypto companies, go and participate as soon as possible as it is closing in a hour.”
The scammer used the exact profile picture and the username of the channel owner so he was convinced that it was the owner and proceeded to make a deposit on a site that the scammer said was giving away ten times the deposit.
“ I sent all my crypto expecting 10x returns, waited an hour, two hours, three hours but i didn’t get my crypto back.
I started to get really worried and went back to the channel to see the comment again but i noticed it was deleted, I was shocked.”
The summary of his experience is that he donated his savings of $10000 in Ethereum to the scam phishing site, ETH Now. A view of the site shows that the scammer has used the strategy to steal more than 4 ETH from other victims and has even changed the receiving Ethereum wallet.
The reason why you must not allow yourself to be tricked into sending your cryptocurrencies to scammers is that there is little chance that you could recover your coins if ever lost because it is far more expensive to track crypto cyber criminals than it is for other thieves.
This is why you must never permit greed to rule you when you’re faced with enticing offers of overnight riches. It just doesn’t work that way. You have to understand that the first rule to growing your digital assets is by never sending it to scammers and shady sites.
This is why we always recommend the regulated investment sites such as this.
You should be conscious of what you do on the internet because there are misleading information online. Do not trust everything you read but always conduct your own research to verify that the opportunity offered by any site is valid and verifiable.
How ETH Now Fools People
The phishing site, ETH Now has a countdown timer that gives the visitor the impression that it is giving away 10,000 ETH. When I visited the site, the counter read that it had given away about 6000 ETH with 4000 left. Leaving the browser window open showed the supposed remaining ETH drop steadily to 342 ETH and stopped.
Obviously, the objective was to create a sense of urgency in the prospect and cause them to send the fund quickly. Other enticing strategies employed are promises of getting between 10 and 100 ETH.
The “Hurry up, there’s not much ETH left” advice sought to accomplish the same purpose of making the visitor send the fund.
Bear in mind that scammers are creating and launching websites daily because the crypto industry is still largely unregulated. There is little protection for you if you lose your funds to scammers.
This is why we recommend that whenever you think of making a crypto investment, you should use a regulated platform such as this.
Scammers are always innovating on how to steal from people. The ETH-Now site has been around for barely one month. It is a concept that many cyber criminals would likely adopt so it is essential that people are careful of believing such tricks.
If you’re keen on making any investments, please check our recommendation. This is a regulated platform which as the only secure investment strategy you could adopt in the crypt industry.
You can also share your experience on similar scam using the comment box below.