With the price of Bitcoin (BTC) increasing dramatically in recent months (at the time of writing) and the blockchain network busier than ever, thieves, con artists, and fraudsters are all profiting from the boom. In this post, we’ll look at the top three Bitcoin scams currently being perpetrated and how to prevent being a victim for btc transaction accelerator.
Why Does This Occur?
Even though Bitcoin and other cryptocurrencies have been available for well over a decade, they have only recently been widely known. Many middle-aged moms and pop types are getting interested in them for their profit potential. Bitcoin demand and price have been fueled by stories of friends earning large profits by purchasing and selling cryptocurrency. As with every gold rush, there is a negative in the shape of unscrupulous actors looking for a quick buck via more illicit ways. When it comes to cryptocurrencies, this typically refers to a case of theft or fraud. A few significant strategies widely employed by certain nefarious persons online have come to light in the previous 18 months.
Generators of Fake QR Codes
When sharing a Bitcoin wallet address with someone, it’s typical to utilize a QR code. Trying to memorize up to 35 strange characters and digits isn’t appealing to anybody, and a single typo in the address might result in your crypto being gone forever. Instead, the consumer scans your QR code with their mobile wallet software, which quickly converts it to your real address; however, you must first build that QR code to share with your friends or customers.
While numerous good web tools may make this chore easier, there are also dangerous ones. Instead of providing a legal QR code for your website, these rogue websites generate the identical code every time, which goes to the tricker’s wallet. It’s a simple but efficient method for them to take the currency supposed to be sent to you instead.
The fraudster is known to run nine different websites, which you should avoid. We’ve also written to the web hosting business responsible for these sites, requesting that they be taken down, which may or may not have occurred by the time you see this:
bitcoinaddresstoqrcode.com \sbitcoins-qr-code.com \sbtc-to-qr.com
freebitcoinqrcodes.com \sqr-code-bitcoin.com \sqrcodebtc.com
The same web provider also hosted almost 450 additional websites, all of which were being utilized for questionable bitcoin-related schemes like bitcoin casinos (which never payout). Other domains included Google Mail, covid-19, and a slew of others. However, a huge number of them seem to be inactive at the moment.
Accelerators for Bitcoin Transactions
The second scam is a network of websites claiming to be btc transaction accelerator. This usually occurs when someone uses a low mining fee to transmit bitcoins elsewhere (or is waiting to receive bitcoin from somewhere else). The blockchain mining pools will not execute your transaction since the fee is lower than the fee for other transactions that are currently pending. This implies that your transaction becomes stuck or delayed when waiting for confirmations as part of your bitcoin transaction. Bitcoin transactions may seem blocked on the network when the blockchain becomes overburdened.
While there is a handful that function, there are also a lot of fakes. They take your TXID (transaction ID) and ask you to transmit a little bitcoin to a wallet address – nothing happens after that, and they retain your money. When this occurs, using a bitcoin transaction accelerator may be beneficial.
a bogus bitcoin accelerator
The most popular ones we discovered on the network are listed below. Some have already been taken, but the first was still active in writing. Please do not transfer any bitcoin to them! One way to test this is to input any random TXID, or even make one up, and it will read ‘transaction discovered,’ which is impossible since the transaction likely never occurred in the first place.
The wallet addresses for the four ‘transaction accelerators’ are likewise identical. Another strategy to avoid being a victim is to do the following:
The fact that so many people appear to have fallen for it is maybe the most astonishing part. Especially because it has already received a lot of attention. Since January 2018, the wallet has received nearly $246,00! See the scam-alert.io report: Link to a Scam Alert for additional details.
Suppose you want to speed up your bitcoin transaction. In that case, our bitcoin transaction accelerator will perform admirably, often lowering the time spent waiting in the mempool (the holding queue) from days to hours or minutes. There are others as well – bit accelerate uses a similar approach. Still, if you look at the network console window in Google Chrome, you’ll discover that at least 5 of the 10 nodes they utilize are no longer operational… Even the blockchain testnet is being used to rebroadcast your TXID! (which is for development purposes only and won’t do anything to help you here). ViaBTC is another alternative. However, BTC Accelerators already contains this server. We utilize at least 10 nodes to speed up your transaction, including our private blockchain nodes if any of the public ones fail.
Thieves of Wallets
The last scam I’ve seen lately is crookedly attempting to steal your whole bitcoin wallet’s contents. They do this by promising to assist in speeding up your delayed transaction (typically on forums), which might be beneficial for the same reasons I mentioned before. They then inform you that all they require is the seed keywords to your wallet to speed up your transaction for free. NEVER, EVER, Anyone with one of them may easily access your wallet from anywhere by restoring a local duplicate of it before emptying it into their bitcoin wallets, from which you’ll never get it back. This scam irritates me the most since some individuals have lost tens of thousands of dollars in cryptocurrencies due to it. It’s a sad moment.
That concludes my overview of the three most prevalent scams and how to prevent them. If you find this information interesting or useful, please share it with your friends! If I can spare even one person from spending bitcoin just to have it stolen, it was well worth my effort to write this for you.