Blockstack ICO defended the potential victims of phishing by counterattack on the scam sites

Criminals' technical ineptitude allowed the team to place the warnings right on the homepage banner of the phishing sites
30 November 2017   911

When the Blockstack team limited the token sales only to accredited investors, immediately several sites sprung up, promising the chance to get on one of the most anticipated ICOs of the end of 2017.

But the mask of looking exactly the same played a key role in later counterattack by the legitimate ICO team. The criminals copied all the code from the original website, including the header banner, which was connected to the Blockstack server. Its main role was to feed the header with adapted tweets from the company's Tweeter account.

When the developers suddenly found, that not only their website was requesting the info, but two others, they performed, effectively, man-in-the-middle attack on the scam sites, changing the banner feed from tweets to “THIS IS A PHISHING SITE” message.

Right now the legal action against the perpetrators is taking place, but one of the sites is still functioning, if redesigned to remove the implicating banner. So, customers, beware.

Blockstack is widely regarded as one of the most desirable ICOs this fall. Their project aims at creating decentralised app network for better privacy and security of the end-user's data. With over 75000 registered domains and more than 12000 developers in the community, it shapes to be a successful venture with quite a bright future ahead.

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CFTC to Issue ICO Investor Advisory

Before buying coins, you need to thoroughly study their nature and understand what factors can affect their price, CFTC advises 
17 July 2018   104

The US Commodity Futures Trading Commission (CFTC) published a document with recommendations for potential investors in ICO projects and token buyers. This is reported by Coindesk.

The agency's document says that before buying coins, you need to thoroughly study their nature and understand what factors can affect their price.

Also, a potential buyer should remember that, depending on the structuring, some tokens can be derivatives, commodities or securities.

Buying digital coins or tokens only because you expect to sell them at a higher price later is the definition of speculation and carries considerable risk, regardless of how good a white paper, application or business plan sounds. Unfortunately, fraud is another significant risk to consider. Your best protection is to thoroughly research digital coins or tokens and exercise caution. 

CFTC ICO Advisory

The guide also states that before investing in the ICO, it is necessary to find information about the organizers of the project, and also to find out whether they themselves participate in their  ICO.

Representatives of the agency also refer to the study, according to which more than 50% of ICO start-ups ceased to exist during the first four months after the end of the token.