EAgharta Scam Revealed By the Ethereum Classic Cooperative

News / 13.01.2020

A likely scam to exploit users following the completion of the Ethereum Classic (ETC) hard fork has been revealed. It was revealed by an Ethereum Classic (ETC) development organization while cautioning people.

The ETC cooperative tweeted on January 13, exposing an alleged scam claiming to be “EAgharta.”

The Agharta hard fork went live on January 12 towards improving interoperability with protocol changes introduced to its blockchain through its Constantinople and St. Petersburg upgrades in 2019.

The scammers behind EAgharta are trying to use the Agharta hard fork to exploit the event and peddle crooked proprietary “Agharta” coins. According to the ETC Cooperative, the Agharta hard fork did not involve the creation of new coins.

The ETC Cooperative uploaded a screenshot of the Twitter handle of EAgharta as well as its solicitations to users to “safely claim Ethereum Classic #Agharta (ETC Hard Fork).” A website was opened for the scheme and is available on the Twitter handle.

Upon entering the website, visitors are prompted to enter and save a password for the creation of a new, dedicated wallet. The website says:

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

Overseeing and deploying funds from Grayscale Investments to develop the ETC network are the roles of the ETC Cooperative.

The Ethereum Classic was derived from the remarkably contentious hard forking of the Ethereum Network in 2016 when the DAO scandal ensued.


Featured image courtesy of Shutterstock. Source: Cryptopress.

Born in Bucharest, Marius is the founder of Crypto Adventure. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.