Fake scam Etherdelta clone steals users' data

Scammers put their website above the real one and inattentive users may not notice it
24 July
Ethereum

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

Reddit user with nickname "frenchhoudini" had found a scamming website, that uses the name of popular decentralized exchange platform "Etherdelta".

Fake EtherData
Fake EtherDelta

As you can see from a Google search screenshot, scammers created a phishing website with almost similar domain name; inside website is a full clone of a real one.

Fake websiteFake website

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Users had already reported about this website, and now a "gLthub" version is out of search. But we made our own investigation, and scammers now using another website, which is available as an advertisement link from Google.

New Fake EtherDelta
New Fake EtherDelta

As you can see from a screenshot, hackers now using new fake domain, "gitLhub". There is no information about when this search issue will be fixed. We can only recommend beeing extremely careful and double-check domain names before using any websites.

Meanwhile hacks become more and more popular in blockchain world. For example, due to Parity hack, many Ethereum-based projects lost a lot of money. Or let's remember an Ethereum Classic Wallet hack, when hackers used "social engineering" to steal user's data and withdrow funds.

Gibraltar launches license for firms using blockchain

The license would formally recognize the use of blockchain records as an accepted mechanism for transmitting payments
14 December

The Gibraltar Financial Services Commission (GFSC) will introduce the world’s first bespoke license for fintech firms using blockchain technology from next month in in attempt to attract start-ups.

The license is the first of its kind and would formally recognize the use of blockchain records as an accepted mechanism for transmitting payments, paving the way for broader adoption.

This is the first instance of a purpose-built legislative framework for businesses that use blockchain or distributed ledger technology.

 

Nicky Gomez

The head of risk and innovation, GFSC

GFSC will publish guidance on Friday for applying its new law for firms that use blockchain to “transmit or store” cash and assets belonging to others - much in the same way as a bank is authorized.

According to Nicky Gomez, Gibraltar expects firms numbering well into “double digits” to seek authorization after the new rules come into force on January 1. Firms will have to treat customers fairly, and must have adequate IT systems and controls to comply with anti-money laundering and terrorist financing rules.