Fake QR Code Generators Scam Users Out of $46,000
Last week, experts from the MyCrypto platform discovered a suspicious website that converted Bitcoin addresses into QR codes. While there are many similar services, researchers quickly realized that this particular site was malicious. Instead of converting the entered Bitcoin address into its corresponding QR code, the site always generated the same QR code for the scammer’s wallet. This means that if a user shared such a QR code with someone else or posted it on their website to collect donations, all the money would end up being sent to the criminal’s address.
Photo: ZDNet
Soon after, researchers identified eight more similar websites with the same interface, suggesting that all these resources were created by the same scammer. The fake QR code generators can be found at the following addresses:
- bitcoin-barcode-generator.com
- bitcoinaddresstoqrcode.com
- bitcoins-qr-code.com
- btc-to-qr.com
- create-bitcoin-qr-code.com
- free-bitcoin-qr-codes.com
- freebitcoinqrcodes.com
- qr-code-bitcoin.com
- qrcodebtc.com
These nine sites generate QR codes for five different Bitcoin addresses. According to MyCrypto specialists, more than 7 BTC (about $45,000 at the current rate) have already been sent to these wallets, most likely from deceived users.
Using PassiveTotal, a threat analysis platform from RiskIQ, researchers were able to trace the malicious sites to three web servers. PassiveTotal also revealed that these servers host over 450 other sites, all with suspicious domains containing keywords like “Gmail,” “coronavirus,” and various brands, mostly related to cryptocurrency.
- 244.100.245 (list of hosted domains)
- 244.100.241 (list of hosted domains)
- 244.100.244 (list of hosted domains)
Most of the sites hosted on these web servers are inactive and simply display ads for cryptocurrency gambling sites, where users can place bets for a chance to win bigger prizes. Such sites are generally considered fraudulent, as they typically keep all bets and do not pay out any winnings to players.
The web servers also host so-called Bitcoin transaction accelerators. These sites ask users to enter a transaction ID and promise to “speed up” the confirmation process on the blockchain. These resources include:
- bitcoin-transaction-accelerator.com
- transaction-accelerator.com
- bitcoin-tx-transaction-accelerator.com
- viabtc-transaction-accelerator.com
All the discovered sites charge a fee of 0.001 BTC (about $6.50 USD). According to researchers, a total of 17.6 BTC, or approximately $117,000, has been sent to the addresses listed on these resources. Experts note that they were unable to determine where these accelerators were advertised or how they managed to earn so much money.
Photo: ZDNet