{"id":25421,"date":"2023-03-24T02:00:39","date_gmt":"2023-03-24T06:00:39","guid":{"rendered":"https:\/\/www.kaspersky.co.in\/blog\/bitcoin-cloud-mining-scam\/25421\/"},"modified":"2023-05-10T00:51:27","modified_gmt":"2023-05-09T19:21:27","slug":"bitcoin-cloud-mining-scam","status":"publish","type":"post","link":"https:\/\/www.kaspersky.co.in\/blog\/bitcoin-cloud-mining-scam\/25421\/","title":{"rendered":"Bitcoin-cloud mining scam"},"content":{"rendered":"

Despite some instability<\/a> over the past six months, the cryptocurrency market is still seen by many as a get-rich-quick scheme. Accordingly, the stream of scammers feeding off this topic won\u2019t be running dry any time soon. To lure victims into their traps, they continue to come up with new ploys, each more innovative than the last. Today we look at a novel scheme that invites victims to withdraw funds supposedly mined by their accounts on some kind of \u201cautomated cloud-mining platform.\u201d\n<\/p>\n

While you were gone, your account got mined<\/h2>\n

\nIt all starts with an e-mail with an attached PDF informing the recipient that nearly a year has passed since they last logged in to their \u201cBitcoin Cloud Mining\u201d account, which they supposedly created once upon a time. In the interim, the scammers write, 0.7495 BTC (worth around US$15,000) has accumulated in the account. But here\u2019s the rub: since the account has been dormant for almost a year, it will be blocked very soon \u2014 after which the mined cryptocurrency will be distributed among other platform users. Time is of the essence, though it\u2019s not clear precisely how much of it the user actually has: the e-mail states \u201c2 days 23:58:38\u201d in a large font, while the small print reads \u201cwithin 24 hours\u201d. Either way, not everything is lost: the user still has time to log in and withdraw the funds.<\/p>\n

<\/a>

In the attached PDF, scammers promise a large payout if the victim logs in right away; otherwise the account will be blocked<\/p><\/div>\n

After clicking the button in the file, the user is taken to the mentioned \u201cBitcoin Mining\u201d website (the word \u201cCloud\u201d has been dropped out of the name by this point). There, two pieces of good news await. First, it turns out that the platform remembers the user by their IP address, so there\u2019s no need to recall the username and password. Second, the payout has now gone up to 1.3426 BTC \u2013 a little more than US$30,000 at the time of posting.<\/p>\n

\"Fake<\/a>

Fake Bitcoin mining platform claims to remember the user\u2019s IP address<\/p><\/div>\n

Now for the bad news: even less time now remains than was specified in the e-mail. The account will be blocked in precisely 18 hours, 39 minutes, 54 seconds \u2014 so get those skates on!<\/p>\n

\"Fake<\/a>

Scammers rush the victim: no time to lose!<\/p><\/div>\n

The username and password are already auto-filled in the form; all that remains is to click the login button.<\/p>\n

\"Form<\/a>

There\u2019s no need to remember the username and password, they are auto-filled<\/p><\/div>\n

The fake site is surprisingly detailed, with lots of different sections to explore. For example, there\u2019s a monthly history of accruals, a history of rewards for individual mining operations, a colorful page showing the current balance, and even a news section. Besides, occasional notifications pop up in a corner of the window stating that some other user just got a large payout.<\/p>\n\n

There\u2019s a \u201csettings section\u201d for changing the password, subscribing to various services, enabling auto-withdrawal of funds (not specified where to), and even allowing other users of the platform to send you money (on the notification settings tab, for some reason).<\/p>\n\n

The focal point for the victim, of course, is the \u201cGet payout\u201d button. Clicking this button initiates what seems to be a chat between the user and a certain Sophia, who appears to be the Head of Payout Operations. Another form has to be filled out, this time with personal data, including card number (presumably the site creators collect this information to sell on).<\/p>\n\n

Of course, the scammers\u2019 goal is to squeeze real money out of the victim. So pretty soon they get down to brass tacks. The victim is offered to convert the cryptocurrency into dollars by paying a small commission of 0.25%. In monetary terms, the fee turns out to be even less than that \u2014 just $64.03.<\/p>\n

\"Fake<\/a>

A small commission is charged to convert bitcoin into regular money<\/p><\/div>\n

The \u201cfee\u201d must be paid in cryptocurrency, so the user is transferred to a page explaining how to purchase it.<\/p>\n

\"Helping<\/a>

Customer care: the scam site kindly explains how to buy bitcoin<\/p><\/div>\n

After clicking the \u201cPay\u201d button, a page appears with the wallet address for sending the \u201cfee\u201d.<\/p>\n

<\/a>

Send the payment here<\/p><\/div>\n

Sure, after paying the \u201cfee\u201d, the victim receives not a penny of the promised payout, but has handed their payment and personal information to the attackers, who can then use it in other schemes or sell it on the dark web.\n<\/p>\n

How to stay safe<\/h2>\n

\nNow for a few tips on how to protect yourself from this and other scams:\n<\/p>\n