Bitcoin Global News (BGN)
August 17, 2018 -- ADVFN Crypto NewsWire -- Today, a new kind of
Crypto scam came to light which may have been around since as early
as some of the first Ethereum based projects.
Based on research done by Coin Desk,
since this July, Ethereum Dapps which look like simple games and
are run like Ponzi schemes, have been rising to the top in terms of
being the most popular Crypto scams.
One example of such a game is
called PoWH3D, and can easily be found with a quick internet
search.
Essentially, these games may be
called schemes just as much as casino games may be called schemes.
With PoWH3D, their main draw is promising users that they will earn
Ether, simply by holding their Ether on the network. In
short, all of these games try to get you to play to win money and
in all cases, there is a very small chance that this will
happen.
Now, we have an even newer form of
these schemes, which manifests itself as one of these games, when
it is really just an even worse scheme. To be clear, judging by
the testaments of the
developers behind one of the true versions of these Dapps,
what this means is that Dapps have surfaced which are copies of
these games, with the design of taking as much Ether from users as
possible.
How they do this involves
simulating game activity with bots or, basically quick,
efficient, computer generated transactions which mirror the same
activity that would happen in such a game if a lot of users were
present.
While the original games are not
much better and seem to make their money based on users attracting
other users, these copies are even worse, because based on this
information, they usually have no real users.
With this in mind, it is logical to
say that anyone who joins runs the risk of losing whatever funds
that he or she spends on the game, forever.
With all of this in mind, gambling
is enough of a risk, without adding schemes masquerading as
gambling to the already confusing mix.
Why not stay away from supporting
any of this, altogether?
By: BGN Editorial Staff
News:
Ethereum
(ETH)
Cryptocurrencies