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Hackers Tricking People to Participate in Bitcoin Pre-sale, Stolen Nearly $150,000

Shahid Mondal
Shahid Mondal
A sports lover. Love exploring and writing about new technology. Avid follower of digital transformation.

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$150,000 have reportedly been stolen by a hacker. This was done by tricking people & making them participate in a cryptocurrency Initial Coin Offering (ICO) pre-sale. Their payments made by the participants were then guided to a vague fraudulent wallet address. The head of this job targeted the ICO, known as a token sale. Its purpose was to collect funds for a Skype-like voice and video application. It was using blockchain to receive payments securely.

The interested users had to sign up in order to receive the required information about the ICO sale of Experty. These people received emails containing a pre-ICO sale announcement of Experty (EXY) tokens. For those who don’t know, EXY is an application based on the blockchain. It’s created to encourage the adoption of cryptocurrency globally.

Ethereum is a type of cryptocurrency like Bitcoin. The users were instructed to send money to an Ethereum wallet if they were interested in buying the “EXY” tokens in order to participate in the ICO. Now this email was fake & was designed & sent by the hacker. The Experty ICO, mentioned about, is to be held tomorrow, on January 31.

This phishing mail had several grammatical mistakes in it. It provoked these people by promising extra tokens if the purchase is made within the next 12 hours. People stepped right into the trap & 74 Ethereum funds, valued at approximately $150,000 in total, were transferred to the wallet address mentioned in that fraud email.

It’s been hardly a month since the hackers broke into the digital wallet provider BlackWallet. At that time they stole the “Stellar” cryptocurrency worth $400,000. In December, another similar incident happened when a Bitcoin hack made the Slovenian Cryptocurrency mining market NiceHash lose over $60 million.


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