Today’s Crypto Minute includes: MyEtherWallet phishing scam, new film funded entirely by cryptocurrency, and Paypal’s founder calls bitcoin a pump-and-dump!?
Phishing Scammers Spoof MyEtherWallet; Steal 215 ETH ($150,000)
MyEtherWallet’s domain records on some DNS servers fell victim to a malicious hack and phishing scheme early Tuesday morning, redirecting some users to a fake MyEtherWallet website. According to Block Explorer, the wallet associated with the hack has sent the ETH to another wallet containing 24,100 ETH ($27 million) that has been linked to phishing scams in the past.
“This is not due to a lack of security on the @myetherwallet platform,” the company said on Reddit. “It is due to hackers finding vulnerabilities in public facing DNS servers”. Moreover, if you used MyEtherWallet to move funds yesterday between 7am (EDT) and 10 am (EDT), and those fund are still in your possession, MyEtherWallet suggests you immediately transfer those funds to another account. Remember to always double check that the URL you have entered is correct in the address bar, as well as always look for the green SSL Certificate next to the address.
Tribeca Film Festival’s “Braid” Funded by Cryptocurrency
According to CNET, a new psychological horror-thriller film called “Braid” was funded through the raising of Bitcoin. Mitzi Peirone, the film’s director and producer, began raising funds in June of 2017 with a goal of hitting $1.4 million. “I was facing either seeing my creative freedom taken away and having to compromise on the story, or not having enough money to make it,” Peirone said.
Those who participated in the token sale were offered a part of the film’s future profits. According to Peirone, the funding campaign hit its goal in two weeks. Briad was shown at the Tribeca Film Festival last night (April 24th). “If we can enable independent artists to truly follow their hearts … instead of having to fall back into pre-established algorithms of storytelling that we’ve heard and seen over and over, we can establish an entertainment industry that we want to see,” Peirone said Monday.
Founding CEO of Paypal calls Bitcoin “Colossal Pump-And-Dump Scheme”
Bill Harris, the former CEO of intuit and one of the founders of Paypal, claims that Bitcoin is a scam. According to an article written by Harris on Recode, he said “ it’s a colossal pump-and-dump scheme, the likes of which the world has never seen. In a pump-and-dump game, promoters “pump” up the price of a security creating a speculative frenzy, then “dump” some of their holdings at artificially high prices”.