Ethereum Classic Cooperative Warns Public of Apparent Hard Fork Scam

An Ethereum Classic (ETC) development organization is warning the public of a potential scam that attempts to exploit users the day after the altcoin has completed its hard fork.

In a tweet Posted by the ETC Cooperative on January 13, they unseated an alleged scam calling itself “EAgharta” in resonance with ETC’s genuine “Agharta” hard fork:

“It goes without saying that ‘EAgharta’ is a complete scam, probably from the same people who did something very similar with Atlantis. Stay away. ETC Agharta did not result in new ‘Agharta coins’. They are just trying to rip you off. “

Scammers Say “Make Ethereum Classic Great Again!”

On January 12, Ethereum Classic active the Agharta hard fork, which aims to improve interoperability with the protocol changes introduced to its blockchain through its Constantinople and St. Petersburg updates last year.

The hard fork occasion appears to have spurred the evil actors behind EAgharta to attempt to exploit the event and sell fraudulent “Agarta” proprietary coins. The new tokens, as ETC Cooperative emphasizes, have not been created as part of the network’s hard fork.

To warn users, ETC Cooperative published a screenshot of EAgharta’s Twitter handle and its requests to users to “safely claim Ethereum Classic’s #Agharta (ETC’s hard fork).”

Twitter handles links to site of the scam and its Trump-style signature of “Agharta Hard Fork: Make Ethereum Classic Great Again”

Once users enter the site, they are asked to enter and save a password to apparently create a new dedicated wallet. Etcagharta.org maintains that it does not save users’ keys on its behalf:

“We cannot access accounts, recover keys, reset passwords, or reverse transactions. Protect your keys and always check that you are at the correct URL [sic]”

The ETC Cooperative is an organization that oversees and deploys funds from Grayscale Investments for the development of the ETC network. The cooperative’s spending policy supports the development of the Ethereum Classic network, infrastructure and related applications.

Historical forks

The name Ethereum Classic stems from the highly controversial fork of the Ethereum Network in 2016 following the DAO scandal.

“Classic” refers to the fact that the altcoin works with the original version of the blockchain (before the time of the fork) and was added to the name of the cryptocurrency to distinguish it from its finally more famous successor, Ether (ETH).

With Ether currently ranked as the biggest altcoin by market cap, Ethereum by market capitalization, Ethereum Classic lags a bit behind in the 19° place. It is trading at $ 5.42, seeing virtually no change in the 24 hours leading up to this issue.

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Ethereum Classic Cooperative Warns Public of Apparent Hard Fork Scam

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