The Ethereum Scam database (EtherScamDB), which records and documents Ethereum (ETH) scams, recently filed about 700 active scams, out of a total of 4,237 detected since its inception in 2017. The addresses specified for receiving the funds from the fraudsters have so far accumulated more than 8,140 ETH, the equivalent of more than $3.87 million at the current ETH price.
EtherScamDB was created in 2017 to document the various scams linked to Ethereum (ETH), and also as a means of trying to stop them. Currently, the database is managed by the MyCrypto team.
When each of the ongoing scams is examined in detail, EtherScamDB allows you to access the respective website. It is also possible to view in Etherscan the transactions of the recipient wallet, or at least those made more recently by the person carrying out the fraud.
One of the programmers who analyzed the data through EtherScamDB’s APIs, John Backus, published on his Twitter account the amount accumulated by the scams so far, which reaches 8,140 ETH.
From the date of the tweet, it appears that more than 200 additional active Ethereum (ETH) scams were added in only five days prior to his tweet.
About 700 Ethereum (ETH) scams are active and rise thousands of ETH
On the other hand, Brandon Arvanaghi and Bryce Crawford processed all transactions for each wallet involved in the scams and, through the use of the Etherscan APIs, obtained information for each fraud from those reported by EtherScamDB, such as the total scam, the most affected victims, and the most recent victims.
Arvanaghi and Crawford’s interactive report shows, for example, that the most affected victim lost 880 ETH, and the most successful scammer (OmniseGO.com) scammed people of 3,291 ETH.
Assuming that two other scammers identified as OmiseGO.net (1,731 ETH) and omisegotoken.com (1,694 ETH) are associated with the most successful scammer, then the group’s spoils rise to 6,718 ETH, 82% of the total scammed amount.
The scammers’ preferred resource, a website where the misleading offer appears, is promoted through social networks, predominantly with Twitter ads, after Facebook and Google adopted cryptocurrency ads bans.