Home Scam Ethereum classic organization warns public against hard fork scam

Ethereum classic organization warns public against hard fork scam


An Ethereum Classic (ETC) organization has come out to warn digital asset holders against a possible scam. Reportedly, the scam is to exploit users the day after the altcoin completed its hard fork.

Etherum classic said on popular social medium Twitter on Monday that they ousted an alleged scam calling itself EAgharta alongside ETC’s bonafide Agharta hard fork.

Needless to say, ‘EAgharta’ is a complete scam, probably from the same people who did something very similar at Atlantis. Stay away. ETC Agharta did not result in new ‘Agharta coins.’ They are just trying to scam you the tweet read.

ETC also posted a screenshot that has EAgharta’s Twitter handle to warn users. The screenshot has the scammers’ solicitations to users to “safely claim Ethereum Classic #Agharta (ETC Hard Fork).”

Users who visit the site are prompted to enter and save a password to create a wallet.

Reportedly, the Twitter handle of these hackers links to their site and its Trumpian byline of “Agharta Hardfork make Ethereum Classic great again!”

Towards the end of 2019, global accounting firm Deloitte in a research revealed that cryptocurrencies are susceptible to quantum attack. Quantum computing being a secondary level of computing poses a lot of threat to crypto and blockchain technology the research revealed.

Scam alert

While Agarata was not a contentious hard-fork, which means that no new coins had been created, some fraudsters try to scam traders out of their money, offering to claim some Agarata coins. They post under “Ethereum Classic Agharta” Twitter account, which was registered only in January 2020.

How the scam works

The hard fork Ethereum classic activated originally is meant to improve interoperability with protocol changes that were introduced to its blockchain.

The hard fork attracted the scammers to hide behind Eagharta to exploit the hard fork event and sell fraudulent proprietary “Agharta” coins.

On the other hand, Ethereum classic claimed the new token is yet to be created as part of the network’s hard fork.

Muhaimin Olowoporoku
Muhaimin is a journalist and a crypto enthusiast. He believes in the Africa project and sees blockchain technology as a possible solution alongside developmental journalism

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Uganda MPs urges restraint over crypto adoption

Speaker of Uganda Parliament, Rebecca Kadaga, has admonished Members of Parliament to be cautious about the rampant crypto pyramid schemes in the...

BABB, crypto platform to launch Feb 12,

The BABB platform (Bank Account Based Blockchain) having shutdown external communication and entered “dark mode” at the end of...

$1M Bitcoin price prediction, irrational ― Josh Rager

While McAfee seemingly had belief in this $1Million Bitcoin price prediction, a leading analyst has asserted that this prediction and others like...

Yet again, YouTube deletes crypto videos

The popular online video platform, YouTube has once again begun mass deletion of crypto videos from its platform.  Making...

Tezos Foundation launches mainnet faucet for users

Tezos Foundation has launched a cryptocurrency faucet to dispense a small stream of XTZ tokens to users. According to...