Ethereum Classic Vision (ETCV) confirmed as scam, websites are now shutdown

12 Jan, 2019 | Updated: 15 Jan, 2019
by Fifi Arisandi
Ethereum Classic Vision (ETCV) confirmed as scam, websites are now shutdown

Ethereum Classic Vision (ETCV) is a confirmed scam, a victim shared his experience on Reddit. 

The Ethereum Classic Vision (ETCV) has been confirmed as scam after one victim confirmed the loss of 131 ETH on Reddit. Both of their websites, and have also been deactivated.

Previously, the Guarda Wallet team reported their suspicion on the ETCV project that claimed to be the first fork on the Ethereum network scheduled to happen on January 11th.

“The analysis on the code performed by our team has shown that the piece of code provided actually sends your private key data on the Ethereum Classic Vision servers, masking it as an API token,” said the Guarda Wallet team.

Using many alleged fake Twitter accounts that has many followers, they promoted that anyone who join will receive 3 tokens of ETCV for every 1 ETH.

According to a Twitter user with the handle, @FlyGuyInTheSky, there are many red flags on the ETCV projects.

The first one he noticed is the heavy promotion of the fake Twitter accounts, on which he said, “Something very fishy is going on with the ETCV #airdrop 100’s of accounts mainly of young busty women are pushing it very hard.”

On the requirement to download specific wallets to be able to receive the rewarded ETCV tokens, he warned not to do it as he said, "It says you will get the ETCV but it will be placed in one of these wallets first...."

For the record, in the previously active website, the malicious actor behind ETCV wrote the instruction on how to receive the ETCV tokens as follow:

“Regardless of which authorized wallet you use to hold your ETH, your free ETCV will be initially sent to the official Ethereum Classic Vision wallet. While we are currently in negotiations with a number of popular wallets, at the moment of the fork we will not be able to send ETCV to those wallets due to certain differences in the algorithms used,” 

Despite the many noticeable red flags, it seems like ETCV still successfully tricked people to fall into their trap.

A Reddit user, Chris Brearly said, "The website looks legit and even has a roadmap and white paper. They direct you to their online wallet to claim/view your ETVC coins where they steal your private keys and move your Eth on."

Ethereum Classic Vision Scam from r/ethtrader

It is so sad to see people still fall victim to obvious scam projects like this or ETH Nowa (ETN), quoting Fly Guy’s tweet, “STOP! Giving YOUR private keys away.... that’s why they are called private.”

Read more: Scam alert: all faces of the Ethereum Nowa team come from stock photos

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Read more about: Scam Ethereum (ETH)


Did you fall to ETCV scam?

(103 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage