Scammers Invent New Ways to Attack ICO Projects

Scammers become more creative, starting cyber-hate campaigns against the projects which are in their ICO phase and promising to stop false accusations only for the reward
05 March 2018   11111

Nowadays cryptocurrency gains more and more popularity as more people understand that digital currency is easy to use and can be really profitable. A lot of companies start Initial Coin Offerings, working on useful projects and offering tokens for the supporters of their concept. But at the same time, there are people who do not use fair methods to earn the money, and there is a shocking number of reports about scammers, hackers, money stolen from investors and other cases of fraud.

Technological progress goes forward, letting the scammers invent new ways of fraud. We have recently stumbled across the new criminal group specializing in extorting money from start-ups and ICO projects.

FireLotto is the project which became the victim of such attack.

    FireLotto scammers attackScammers emails to FireLotto

    As FireLotto representatives told us, the scammers use the same fraud scheme with all projects they attack. It goes as follows:

    • Firstly, scammers start a cyber-hate campaign in social networks and on the popular crypto community forum They write the different versions of the same accusations to all the projects, attack the members of the project team, the project itself, invent non-existent facts, trying malicious atmosphere around the start-up.
    • Further, the attackers send a letter to the corporate mail of the project or contact one of the project team members offering to stop the hate campaign for a reward. The amount of the reward varies depending on how greedy the scammers are.

    The attack on your project was organized by the company that is going to start its lottery ICO this summer. We offer you to overbuy the order. Waiting for the answer until the evening.

    The email sent by scammers to FireLotto

    Here is exactly what happened:

    • FireLotto team received an email from a group of individuals, who reported that the attack was ordered by another project, which launches its ICO in summer of 2018
    • Scammers attempted to attack the server and site of Fire Lotto project
    • Aftrewards, scammers began aggressive attacks on forum. From scammers profiles on bitcointalk Firelotto discovered that there were a lot of projects that have already been attacked
    • Finally, scammers requested a ransom to stop the attack and remove all the negative information

    Firelotto scammers emailsScammers emails to FireLotto

    The strategy of scammers includes attacking project's bitcointalk forum, DDOS attacks and a special webste dedicated to ICO project, launching groups in VK and Facebook promoting ICO project as a scam.

    We employ serious people and our support will be much more effective than any type of advertising. We don't insist because we have the order of your competitor who we have to answer tomorrow. We guarantee that they will not be able to find anyone else working in this area. Send your answer until 20:00.

    The email sent by scammers to FireLotto

    Scammers went further, and even provided the examples of their work on other projects:

    • ICO Worldcore

    After reviewing the emails sent to the representatives of FireLotto ICO it becomes clear that people sending such letters are scammers and not trustworthy crypto industry experts as they present themselves on the forum.

    scammers emails to firelottoScammers emails to FireLotto

    Tomorrow morning we will send a notice to the Singapore police claiming that you are collecting funds for terrorist activities. The same notice will be sent to similar services in Russia and USA. Your english language branch on bitcointalk forum will soon be sent to the trash can. We will send warnings to your followers on Twitter and Facebook. 

    The email sent by scammers to FireLotto

    Fire Lotto project decided not to encourage scammers and respond to what they ask for, so the project team informed the community about extortion and hating campaign from the attackers. After that was done, the scammers created new accounts and started sending threats to project administrators in Telegram, corporate mail, and writing defamatory posts on bitcointalk.

    It is crucially important to protect yourself, your funds and the projects you believe in from all types of fraud. We recommend our readers to trust only official channels of the projects they invest in, and be careful in choosing the one that can be really trusted.

    Do not let scammers mislead you!

    TOP-3 Ongoing ICO 14 - 21 Mar According to Our Readers

    Let’s check which ongoing ICOs from 14th to 21st March are considered the best according to our readers
    22 March 2018   88

    Our readers are dedicated cryptocurrency enthusiasts and fans of blockchain technology. We provide them with the ability to express their opinion regularly. Let’s check top three ongoing ICO according to our readers.

    1. BitCar

    Hyper car asset tokenization. BitCar is the first platform in the world that will allow you to P2P trade fractions of exotic cars using your crypto. Owners can peg their crypto to these hard assets for protection during times of high crypto volatility. Users will have access to this historically outperforming asset class for the first time through BitCar. BitCar will then also seek to provide fractional ownership services to the very large automotive industry using this new decentralized blockchain technology.

    Bitcar ICO
    Bitcar ICO

    At the moment of press, tokens worth SGD 9.2 Million were sold during ICO. Great result!

    2. Datarius

    Datarius cryptobank is a decentralized partially closed system. As a P2P platform, the system enables users to decide themselves whether to use any of variable services and applications. This in turn allows to almost completely reduce transaction costs. Datarius serves as a direct link between lenders, borrowers, and the related services – managers, analysts, insurance companies, funds, trading terminals.

    Datarius ICO
    Datarius ICO

    At the moment, $888 737 raised during the Datarius ITO. Good result!

    3. ADAMANT 

    The ADAMANT project is made to respond to the question of trust in private data transfer security, since it is based on a proven to be robust Blockchain conception, and its program code is open and public. The project uses modern encryption methods and unique Blockchain technology and provides a high guarantee of confidentiality of the information transfers among all users within the system.

    Adamant ICO
    Adamant ICO

    Adamant team was able to reach soft cap! $532 949 raised! And the sale is still going!

    We will keep our eye on these campaigns and we hope that their projects will be successful. We are really grateful to our readers for your opinion expression. Please, check the updated Top Ongoing ICO and take part in new poll!