Hackers Attempt to Phish ArcBlock ICO

Hackers Attempt to Phish ArcBlock ICO

The ArcBlock ICO has become the victim of the latest attempt by hackers to attempt a phishing manoeuvre on its upcoming token sale.

Using a similar domain name, fraudsters have created an imitation of the original website and are hoping an unsuspecting public will send their ETH to a fraudulent wallet address.

Common Problem

A common phishing technique, the imitation website appears on a similarly named domain name that is otherwise practically indistinguishable.

The address for the official website is arcblock.io whilst the phishing site had replaced the ‘io’ portion of the domain name with another domain name extension, platforming at the same time the false contributions address to which the fraudsters have been hoping to divert funds from unwitting investors. 

In an ironic twist, the phishing site platforms a warning alerting investors to “be aware of scammers.”

At the time of writing, however, the Ethereum address platformed by the phishing site appears to have received zero contributions – a sign, perhaps, of growing awareness within the investment community of these kinds of attacks. However, it is unknown at this stage if fraudsters have employed more than one false contributions address. 

ArcBlock is a project which, whilst otherwise sharing many similarities with EOS, is not intending to create a new blockchain but is aiming instead to create a bridge between existing blockchains. As such, it is more of a platform built upon existing protocols and utilising cloud computing to achieve cross-platform applications.

In addition these Dapps, using ArcBlock’s own token (ABT), other projects will be able make their own token generation event.

While registration has now closed the actual sale will start in 10 days. Early signs are that the ICO is likely to be heavily oversubscribed.