The continued rise of cryptocurrency popularity has created a breeding ground for malicious attacks, phishing attempts, and the occasional PC hacks. While a large popularity of crypto users is earning from their efforts, there is another group that has chosen to earn a living by stealing from the hard workers.
What Is EtherScamDB?
EtherScamDB was developed with the principal aim of protecting the people who are earning their crypto in an honest way. The platform works by collecting crowdsourced information pertaining to web-based scams.
The information is then compiled into a database to act as a guide for all crypto enthusiasts. It helps protect them by ensuring that they do not fall prey to schemes that may have been initiated with the primary goal of emptying their digital wallets or fleecing them of their precious coins.
It is a platform that was developed by the My Ether Wallet team. It was initially launched in 2017 as a way of providing a solution to the increasing number of ETH related scams.
Since inception, it has gone on to record thousands of pages suspected to have taken part in fraudulent transactions. These are pages that have overtime being linked to hundreds and at times thousands of different addresses that have in the past been used by scammers to hide, or store their stolen loot.
How EtherScamDB ETH Scam Database For Active Threats Works
When you first visit the platform, you will come across a table with different kinds of categories. These categories have their corresponding subtitles, with each showing the status of the report (active or closed), and the title of each report.
In addition to storing information in its database, it also shows the kind of attack that was carried out, the original URL where this scam was first identified, and additional information that can be used to describe the attack vector in more specific details.
On the website, you will also note that a field has also been provided to show you the company that was responsible for the malicious link in question. A search filter has been provided to make it easier for users to search for queries. This means that one can easily be able to look for the services that they regularly use, to determine whether they are linked to any particular scams.
Why Use EtherScamDB?
This website has a database that continues to grow with each passing day. The information in the database has been collected by its outsources, and if it continues to do so, it will be possible for other systems to use this data to make queries. It is something that will come handy for many cryptocurrency enthusiasts and owners.
Currently, the website is completely an open source and has been hosted at Github. Everything about it, including its documentation and datasets, is open-sourced. This means that any person or company that may have an interest in this kind of information is welcome to use it.
The reporting function is easy to use, and this means that any person can make a contribution. This makes it possible for this particular project to identify, and add new scams with ease.