Be Cautious of a Network of Fake Bitcoin QR Code Generators, $45,000 stolen

Suzat

March 29, 2020 1:11 pm

Be Cautious of A Network of Fake Bitcoin QR Code Generators, $45,000 stolen
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A network of fraud QR code generators has stolen more than $45,000 from Bitcoin (BTC) users in one month.

Around nine websites provided users with the ability to enter their Bitcoin address, a long sequence of text where Bitcoin funds are deposited, and convert it into a QR code image they could save on their PC or smartphone. 

These fake Bitcoin-to-QR code generators have been recognised in recent weeks, with the security researcher, Harry Denley, first tweeted on March 22, that he had named two domains hosting fake QR code applications.

Above 7 BTC Stolen by Fake Bitcoin QR Code Generators 

Harry Denley, Director of Security at the MyCrypto platform, ran across a suspicious site that converted Bitcoin addresses into QR codes last week, many services like this exist, Denley realized that the website was hostile. These hostile programs promise to change a user’s Bitcoin address into a QR code, pretending to eliminate the risk of the user losing their funds and when entering or sharing their address — a service given by every popular block explorer and most mobile wallet applications.

However, converting an entered Bitcoin (BTC) address into its QR code equivalent, the website always generated the same QR code — for a scammer’s five different wallets, which have absorbed more than seven BTC, likely from the apps’ victims. 

Denley later recognised seven additional domains sharing the same interface and advising that they are all designed by the same developer.

The hostile websites are:-

bitcoin-barcode-generator.com, freebitcoinqrcodes.com, qr-code-bitcoin.com, and qrcodebtc.com, bitcoinaddresstoqrcode.com, bitcoins-qr-code.com, btc-to-qr.com, create-bitcoin-qr-code.com, free-bitcoin-qr-codes.com.

Also Claimed to be a Bitcoin transaction accelerator 

The hostile websites are hosted by three distinct servers that collectively host approximately 450 other websites that seem inadequate holding terms like Gmail, coronavirus, and the brands of other cryptocurrency-related articles, ads for cryptocurrency gambling sites, where users can place a bet for the chance to win a bigger prize.

Besides the QR code generators and websites showing ads for the gambling sites, the same three servers also hosted a so-called “Bitcoin transaction accelerators.” Such as bitcoin-transaction-accelerator.com, transaction-accelerator.com, bitcoin-tx-transaction-accelerator.com, viabtc-transaction-accelerator.com.

These types of sites invite users to enter the ID of a Bitcoin transaction and ensure to “accelerate” the transaction’s approval process on the Bitcoin blockchain in exchange for a 0.001 BTC. 

and according to another tweet by Denley, the BTC addresses where fees were collected had received more than 17.6 BTC, which accounted for a whopping $117,000.

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