Major warning when mining new coins!

FP91G

legendary

Activity: 1834

Merit: 1136

Quote from: ccplz on September 08, 2024, 06:30:51 AM

What's up with projects straight up asking for your private key in order to mine nowadays? Had 2 projects do that, FRY and EMC.
Really fucking stupid and an instant red flag.

I saw similar projects where you had to add a private key in the solo miner settings, but the project did not prohibit sending mined coins to another address.
I would not immediately hang red flags if it is possible to send coins to other wallets.

swogerino

legendary

Activity: 3318

Merit: 1247

Bitcoin Casino Est. 2013

Quote from: ccplz on September 08, 2024, 06:30:51 AM

What's up with projects straight up asking for your private key in order to mine nowadays? Had 2 projects do that, FRY and EMC.
Really fucking stupid and an instant red flag.

Do they think after 15 years that crypto is with us there are still stupid enough people to know that giving out the private key is the same as giving out your physical wallet to a thief, nowadays there are not such persons anymore, everyone who is involved in mining from some years now, I mean real mining and not phone scam projects would not fall for it. What is interesting for me is that there are people who think that this type of social engineering will work for them, this shows belief from these guys to be getting cheap crypto if people fall for it, no wonder why the number of fake developers in Telegram is on an exponential rise.

ccplz

full member

Activity: 258

Merit: 116

What's up with projects straight up asking for your private key in order to mine nowadays? Had 2 projects do that, FRY and EMC.
Really fucking stupid and an instant red flag.

FP91G

legendary

Activity: 1834

Merit: 1136

Quote from: swogerino on September 07, 2024, 11:27:23 AM

This is as good as a sticky thread and because we already know how many scammers and cheaters with new accounts and only one post were pretending to be like the Phoenix miner in the Phoenix miner official thread, some of them had even gone a step further and had setup a website similar to the original of that of Phoenix miner and at least a few individuals have fallen prey of these cheaters, based on such level of scams it is always a good idea to be creating new threads about the risks of cybersecurity which is always on the rise and people education about it which is not at the same level most of the time.

Useful list of links to miners from safar1980
https://bitcointalksearch.org/topic/m.60507261

Always check the links in the 1st post, and you will never be deceived. And it is better to use OS for mining, in which all updates are checked by the developers of these systems.

swogerino

legendary

Activity: 3318

Merit: 1247

Bitcoin Casino Est. 2013

This is as good as a sticky thread and because we already know how many scammers and cheaters with new accounts and only one post were pretending to be like the Phoenix miner in the Phoenix miner official thread, some of them had even gone a step further and had setup a website similar to the original of that of Phoenix miner and at least a few individuals have fallen prey of these cheaters, based on such level of scams it is always a good idea to be creating new threads about the risks of cybersecurity which is always on the rise and people education about it which is not at the same level most of the time.

doubletheprof

jr. member

Activity: 179

Merit: 1

Nice thread! Gotta keep the new miners infromed!

FP91G

legendary

Activity: 1834

Merit: 1136

Fraud will always be there and the methods will always be repeated. But many miners now have many free computers for experiments due to the unprofitability of mining.

adaseb

legendary

Activity: 3808

Merit: 1723

I remember back in 2015 this used to be a big issue. With the rise of Dogecoin, there was tons and tons of Litecoin clones, and many of them didnt have a pool yet, so many launches were done by solo mining. So you had to download the actual client wallet and from there you would solo mine. You would basically mine with the daemon and could configure your miner software to mine directly on your network. Everyday there was a few coin launches such as this.

What happened was, many people were VERY eager to start mining as soon as possible because they wanted to instamine, many were scams and they had backdoors to steal your crypto. I got lucky because my mining rigs were basically empty, no bitcoin or anything sensitive was on those rigs but it was still not pleasant getting a virus that way.

Its crazy that these scams still exist today.

logfiles

copper member

Activity: 2170

Merit: 1827

Top Crypto Casino

Nice thread. Might need a few more details to guide the newbies who might think about mining new coins.

Such threads are educative and should be pinned in the respected board. I surely don't know what criteria the forum administration use before they decide to make a thread a sticky in a given board

FP91G

legendary

Activity: 1834

Merit: 1136

I often make announcements of new coins. These coins can be a scam and a fraud. Experienced miners know this, but for beginners I will quote important security basics:

Important: In order to maintain digital, information and financial security, when mining new coins, it is recommended:

1️⃣DO NOT INSTALL a wallet from a new coin on your main computer, where important information and wallets from other coins are stored. Such as, for example, Kaspa, Nexa and others.

2️⃣INSTALL the wallet from the new project on a separate computer where important information and wallets from other coins are NOT stored.

3️⃣Refuse to mine a new project if rules No. 1 and No. 2 are not followed. Otherwise, all funds and important information stored on the main computer may be stolen.

4️⃣If you don’t want to mine a project, but want to buy it, then you need to buy it for the amount you are ready to lose (a recommendation, not financial advice).

5️⃣It is important to assess all risks and make an informed decision.

https://t.me/journalmainera/2523

Topic: Major warning when mining new coins! (Read 463 times)