The scams on Satoshi CORE Mining as MainNet launch is drawing closer, bad players are devising strategies to defraud many participants.
Every miner such read and kindly share to others, let’s create awareness. Here are popular types of scams that all CORE miners should be aware of, especially as the Mainnet draws near.
Phishing Site Scams
Phishing scams are one of the oldest tricks in the book, and with CORE as a highly valuable crypto asset with massive adoption, utilities, and hype surrounding it, you can expect them to skyrocket.
To those unaware, phishing scams attempt to steal funds from your wallets by providing fake yet incredibly well-done prompts that look a lot like the original. The most common example is a phishing email or some other type of message you receive online to ask you to click on links that re-direct to imitation websites. In most of the cases, they would also ask you to either input your seed phrase or to sign wallet permissions, which would allow the hacker to essentially drain your funds.
Others might ask you to unknowingly install some sort of software that would turn out to be malware and infect your phone or computer, thus giving scammers access to your files.
As a general rule of thumb, especially in regards to opening emails from unknown senders, you should:
🔰 Never open an attachment or a link from an email address you don’t recognize, nor provide personal information or passwords (including recovery phrases & private keys) to anyone. Immediately delete emails from unknown senders.
🔰 Be aware that scammers are getting more elaborate in their ways to get to your Satoshi CORE, so stay woke and be security cautious.
Airdrop Hunting Scams
Airdrop hunting scams are also likely to run rampant as we approach the CORE Mainnet launch. Know this:
🔰 There are no official airdrops confirmed by the Core DAO yet.
🔰The way these scams work is the bad actors would send some tokens to your wallet. From there, some wallets are likely going to depict their worth and you can find yourself surprised to see that you have thousands worth of some tokens you’ve never seen before nor request for.
This is where the scam begins as you are likely to be prompted to sign in with your Core chain Wallet and approve a transaction while trying to claim your airdrop. What this does is essentially giving control of your keys to the scammer and as a result, all your CORE will be stolen.
There’s another alternative to this where you would have to sign a transaction that actually sends the funds to the scammer’s account. Of course, it’s also worth keeping in mind that there are legitimate airdrop tokens built on the Core Chain Network that will be given out once CORE has been launched. However, Core DAO has already announced that it will be using it’s *official Twitter handle* to announce airdrops to the Core miners & hodlers community.
🔰 Note that, any airdrop you participate in aside the ones which will be announced by the Core DAO is at your own risk. Connecting your Wallet to unverified/ untrusted dApp links in the name of wanting to participate in an Airdrop is highly risky. As a safety protocol, it is highly advisable that you create a different wallet on your metamask for Airdrop hunting.
🔰 Whenever you discover that you connected your wallet to a scam or untrusted site while trying to get an Airdrop, simply go to your metamask *settings* . Select *security and privacy*, then click on *clear privacy data*. This will automatically disconnect the permission you granted the site & other sites to access your wallet.
Customer Service (Support) Scams
Customer Service Support scams are common in the cryptocurrency industry and they, much like most of the scams, target people who are new to Crypto.
For instance, there are already cases where people get contacted by Twitter accounts claiming to be Core DAO Support. They would fish for some details, which often times include private keys, seed phrases, or passwords. Their target is to steal your CORE or any other crypto assets in your wallet. So be at alert and vigilant. Core DAO so far are anonymous, hence they don’t communicate with individuals instead to the general public with only their 3 official accounts (Twitter, Discord & Medium).
🔰 Never share your passwords or recovery phrases or private keys with anyone.
🔰Never give anyone access to your mobile phone, wallet or remote access to your computer, nor communicate with anyone outside of the designated official Core DAO channels through the official links.
🔰 Note that, customer support service whatsoever, will never extend the first contact and they surely won’t ask for any private details, especially recovery phrases, private keys or passwords.
Validator Community Scams
Node mining: CORE uses the Delegated Proof of Stake (DPoS) consensus algorithm, which implies that CORE once mainnet is launched, Core will be mined by delegating CORE to Validators. The validator is in charge of confirming transactions on the network and also distributes rewards to everyone who delegates CORE to his/her validator node. To become a validator, a minimum of 10,000 CORE is required.
Therefore, it is quite likely that there will be many scammers who will be trying to take advantage of ignorant miners and scam unsuspecting victims out of their CORE by asking them to contribute CORE together so they can form a validator node & be sharing the profit from the percentage commission a validator received from every payouts to delegators.
Scammers can even make claims and stay in contact with their victim for as long as it takes, and they would try and convince more that they should join to form a validator node Mining community.
They will even assure their unsuspecting victims to send a small amount of CORE and that they will be generating some profits. Beware of this scheme❌ ⚠️ This is done to lure miners into sending them CORE. Once this is done, the scammers are likely to abscond with your CORE, never to be heard from again💔.
However, anyone who wishes to have a validator node on the core Network should use his or her CORE because there is a jailing & slashing (cutting) mechanism as a punishment for any validator node which misbehaves. This is one of the major risk of becoming a validator. So never contribute your CORE to any community pool in the name of wanting to form a validator nodes. It’s highly risky & dangerous❗.
🛑As a general rule of thumb, if you want to mine during node mining, only delegate your CORE directly to any validator nodes listed on the Core Validator network or website, and you will still be getting your profits daily.
As a key point to remember here, you should be mindful of anyone contacting you about making money off your CORE during node mining. Anyone contacting you to invest, trade, contribute your CORE, or whatnot into something of this kind, is trying to scam you🚩.
As we explained, CORE miners don’t have to do contribute CORE to anyone for node mining. Instead you are to delegate it on any available validator node on the Core Node mining Website.
In conclusion, we understand that a huge event as Satoshi CORE mainnet launching often times attract lot of scammers and cyber fraudsters. This will surely increase the scam attempts and underestimating how creative and elaborate hackers are is the biggest mistake you can make. Be wise and careful on the strangers you interact with henceforth.
We do advise that everyone adopt a rigorous (tough) security management for their crypto wallets to safeguard their assets. You can join the Satoshi Core mining TeleGram GroupChat with over 100,000 other participants for exchange of HashCard and valid updates regarding the project.