Ethereum Classic Development Organization Warns Public Against Apparent Hard Fork Scam
Ethereum Classic Development Organization Warns Public Against Apparent Hard Fork Scam
January 14, 2020
Ethereum Classic Development Organization Warns Public Against Apparent Hard Fork Scam
Ethereum Classic Development Organization Warns Public Against Apparent Hard Fork Scam
January 14, 2020

An Ethereum Classic (ETC) Development Organization is warning the public against a possible scam that is attempting to exploit users the day after the altcoin completed its hard fork.

On January 13, it has been reported from a tweet posted by the ETC Cooperative that they ousted an alleged scam calling itself “EAgharta” in resonance with ETC’s bona fide “Agharta” hard fork.

However, on January 12, Ethereum Classic had activated the Agharta hard fork, which aims to improve interoperability with protocol changes introduced to its blockchain through its Constantinople and St. Petersburg upgrades last year.

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The occasion of the hard fork appears to have spurred the malign actors behind EAgharta to attempt to exploit the event and peddle fraudulent proprietary “Agharta” coins. As ETC Cooperative emphasizes, new tokens have not been created as part of the network’s hard fork.

To warn users, ETC Cooperative posted a screenshot of EAgharta’s Twitter handle and its solicitations to users to “safely claim Ethereum Classic #Agharta (ETC Hard Fork).” 

Likewise, the Twitter handle links to the scheme’s site and its Trumpian byline of “Agharta Hardfork – make Ethereum Classic great again!” 

It has been analyzed that once users enter the site, it prompts them to enter and save a password in order to ostensibly create a new, dedicated wallet. Etcagharta.org maintains that it does not hold users’ keys on their behalf.

Etcagharta.org added:

“We cannot access accounts, recover keys, reset passwords, nor reverse transactions. Protect your keys & always check that you are on correct URL [sic.]”

The ETC Cooperative is an organization that oversees and deploys funds from Grayscale Investments for the development of the ETC network. However, the cooperative’s spending policy supports the development of the Ethereum Classic network, infrastructure, and related applications.

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It has also been analyzed that Ethereum Classic’s name itself derives from the highly contentious hard forking of the Ethereum Network in 2016 in the wake of the DAO scandal. 

With Ether currently ranked largest altcoin by market cap, Ethereum Classic lags some way behind in 19th place.

Thus, it is trading at $5.42, seeing virtually no change over the 24 hours before press time.

Source: etcagharta.org | cointelegraph.com


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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