Bitcoin Foundation Issues Fraud Alert Over Cloned Websites

The Bitcoin Foundation has warned that two unaffiliated fake websites are trying to con users out of their funds.

Dec 2, 2014 at 4:03 p.m. UTC
Updated Sep 14, 2021 at 2:03 p.m. UTC

The Bitcoin Foundation has issued a fraud alert over fake websites that are attempting to steal innocent visitors' bitcoin.

The bitcoin advocacy organisation said in a statement that it knows of two cloned websites, bitcoincompensation.com and bitsecuretransfer.com, which are cloning the legitimate Bitcoin Foundation site and spoofing web addresses and domains.

"Neither of these domains have anything to do with the Bitcoin Foundation," the foundation stressed.

How the scam works

Bitcoiners are directed to a fake page that looks like the legitimate Bitcoin Foundation website, where they are asked to submit their bitcoin address in order to receive a "gift" or compensation for losses incurred by the bitcoin price slump.

BF Fraud Alert

CoinDesk used a dummy bitcoin address to find out what happens next.

Firstly, the site brings up a notification that the user has won a certain amount of bitcoin, in our case 17.4439042675 BTC. They are then asked to "login with Blockchain".

Scam notification

The site then forwards visitors to a site (blockchcain.com) that mimics that of bitcoin wallet and data provider Blockchain. Users attempting to log in and redeem their 'free' bitcoin will actually be giving their password to the scammers.

It is worth noting, however, that the text on the fake Bitcoin foundation site is poorly written and likely not the work of a native English speaker. This makes it simpler for visitors to identify the site as a scam.

Appeal for vigilance

The Bitcoin Foundation urges users to report other similar sites they may come across to webmaster@bitcoinfoundation.org, with the subject line "SCAM SITE" and also suggests there may be fake sites in languages other than English.

The foundation said:

"We are taking steps available to us to help remove these offending websites from the Internet. While we only know of the two, we are continuing to monitor any other additional scam sites."

This is merely one in a long list of bitcoin scams, but what makes these sites notable is the sheer audacity of the perpetrators, who are trying to pass themselves off as some of the biggest names in bitcoin.

See CoinDesk's guide on how to avoid phishing scams here.

Scam alert image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Cash Management Firm Coinshift Closes $15M Series A Led by Tiger Global

Coinshift has outlined a new roadmap with the goal of building the most sophisticated treasury system for Web 3.

Coinshift has outlined a new roadmap with the goal of building the most sophisticated treasury system for Web 3.

2
Dutch Finance Official Wants to Ban Retail Investors From Trading Crypto Derivatives

The Dutch Authority for Financial Markets (AFM) doesn’t yet have the authority to issue a UK-style ban, however.

The Dutch Authority for Financial Markets (AFM) doesn’t yet have the authority to issue a UK-style ban, however.

3
Certora Raises $36M for Smart Contract Security Tools

Jump Crypto led the funding round for the firm, which secures $50 billion of DeFi assets.

Jump Crypto led the funding round for the firm, which secures $50 billion of DeFi assets.

4
Ransomware Gang Extorted 725 BTC in One Attack, On-Chain Sleuths Find

The infamous Conti ring’s internal messages, leaked in February, served as a jumping-off point for a new transaction analysis by Crystal Blockchain.

The infamous Conti ring’s internal messages, leaked in February, served as a jumping-off point for a new transaction analysis by Crystal Blockchain.