Scammers Target ICO Investors with Fake Token Sales Offers

Cyber criminals have been targeting the cryptocurrency ecosystem for years now - Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term and wallet hacks, exit scams, double spending, ransomware attacks, exploiting vulnerabilities and more.

Learn how to buy Bitcoin and Ethereum safely with our simple guide!

The latest trend that investors need to look out for is fake ICO offers, where scammers send messages via email, Slack or Telegram falsely claiming to be related to a project and presenting their own address to send funds.

One such email received by Finance Magnates - entitled "#1 ICO Of 2017 - Join Now" - falsely claimed to be related to CoinDash:

"**Official Announcement from the Coindash team**

Coindash Token Last-Sale is OPEN NOW!

We are pleased to announce that all the registered members can now buy the last tokens left at a special rate of 30000 per 1 ETH.

Last-sale ends in 48 hours or when the hard cap is reached (2000 ETH).

This is the last change to buy our tokens, only 60,000,000 tokens left!

The minimum contribution is 0.1 ETH and the maximum contribution is 500 ETH.

Contribution Bonuses:

20+ ETH = 5% BONUS

50+ ETH = 12.5% BONUS

100+ ETH = 30% BONUS

200+ ETH = 70% BONUS

300+ ETH = 100% BONUS

CONTRACT ADDRESS - 0xF87B0A637f33398e312Eac43Cb76AB3527DD52ec

Please note that you will see your tokens on your ETH address where you sent from.

Recommended - Gas limit: 200,000 | Gas price: 21 Gwei

Our website - https://www.coindash.io/

Thank you for your continuous support,

Your Coindash Team"

Alon Muroch, CEO and co-founder of CoinDash, confirmed that the email is fake and called it a scam. He commented: "People need to be careful about phishing and scams, especially in the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term space."

Earlier this month Swiss blockchain company Lykke, issued a warning to the public against clone ICO website 'Ykke', that appropriated the look and feel of the Lykke website, the Lykke logo, and other elements of its brand identity.