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 real Bitcoin (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. The scam relies on asking for a small fee to accrue gains.

The wallet address of 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. Another address has claimed up to 0.8 BTC, while a third has received 4.54 BTC. Additionally, one of the addresses collecting the fees is part of a wallet that 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.

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