Bitcoin (BTC) Generator Scam Keeps Making the Rounds

A rather simple scam is still attempting to grab small amounts of Bitcoin while promising to generate coins and send them to any address.

A long-running scam is still live, promising to run an “exploit” and generate realBitcoin (BTC)balances on the blockchain. The Bitcoin Generator (www.bitcoingenerator.pro) operates on a simple principle - the promise of a small amount of Bitcoin sent directly to any public address.

The exploit runs a .js script, appearing to make a connection to the Bitcoin blockchain. The site works with any address, even with the public ones of large exchanges.

The script asks for a small amount of BTC to cover transaction fees. Of course, no real BTC has been generated, otherwise the site could have taken a cut. Thescamrelies on asking for a small fee to accrue gains.

Thewallet addressof the scheme has collected just around 0.018 BTC. The scam somewhat resembles the Twitter giveaways, which first asked for an up-front fee to claim the reward. Anotheraddresshas claimed up to 0.8 BTC, while athirdhas received 4.54 BTC. Additionally, one of the addresses collecting the fees is part of awalletthat lists MoonBitcoin as the owner. MoonBitcoin is one of the most visited spots on the internet and is seen as a legitimate service, which begs the question of why the organization has decided to get involved in a scam.

However, the scam is relatively harmless as it only asks for a public address instead of phishing for a private key.

BTC prices are starting to perk up again, making the asset attractive for fraudsters. In the latest rally, the coin extended its gains to reach $3,812, breaking out of the $3,200 range within a few days.

Additional Bitcoin can only be generated through the creation of a new block. The scam site never sends out a transaction, simply collecting the small fees.