Dash-Coin.net scam wallet steals funds

Dash-Coin.net scam wallet steals funds from its users' accounts

15 September 2017 1963

Dash cryptocurrency holders fell prey to the fraudulent Dash-Coin.net service, which pretends to be a web wallet and gets access to individual users' keys, stealing their money.

The threat message was posted at the official Dash Core forum on Reddit.

The official Dash Core forum on reddit.com

The problem has drawn the attention of the administrator of the online games website Dash.red, Edward Stover. As the man explains, several users registered on the website had the same address associated with a fraudulent wallet-service.

The man goes on, saying that the Dash.red website has many security settings, one of which is the blocking of transactions from different users to the same Dash address. Thus, one of the users complained that his transaction was blocked. He said that during this operation, he went to the address of Dash Public from the "web-wallet" Dash-Coin.net. That's when Stover realized why different users use the same Dash address.

Very simple, but effective fraud.

Edward Stover
Administrator of Dash.red

The Dash Core team, in its turn, urges its users to be vigilant and trust only proven official wallets.

Blockchain

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe

19 February 2019 93

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.