- ETH-Skip is offering free ETH, which uses the classic “send ETH, get ETH” scam trick.
- “if you contribute 500+ ETH, you will receive 1000+ ETH back.”
Crypto giveaway scams are designed to persuade uninformed people to contribute cryptocurrency to scammers. Scammers usually try to mislead consumers into believing that they can receive twice as much cryptocurrency as they send.
ETH-SKIP is another webpage where the scammers behind this giveaway fraud utilize Vitalik Buterin’s name (co-founder of Ethereum) to lend respectability to the scheme. Their primary purpose is to convince people that by contributing 0.5+ ETH, they will receive 1+ ETH back and that this dynamic will continue to the point where if you contribute 500+ ETH, you will receive 1000+ ETH back.
Such giveaway frauds are designed to get individuals to send Ethereum (ETH) cryptocurrency to the given wallet. It’s worth noting that such scams are frequently pushed on YouTube, Twitter, and other social media platforms.
The website’s User Interface and User Experience appear genuine. It has been skillfully crafted to include essential data such as “the rules” of the giveaway and “How long will it take me to get my bonus?” to make it appear credible.
It’s also vital to keep in mind that practically all crypto giveaways are phony scams that follow a similar pattern: they’re disguised as giveaways sponsored by legitimate people (e.g., Changpeng Zhao, Elon Musk, Steve Wozniak, and in this case Vitalik Buterin)
Communities about crypto on Reddit have also grown suspicious of this website, confidently asserting that it’s a scam.
The crypto world does not work this way; once you transfer assets in crypto, you cannot reverse the transaction until the receiver reverts the asset to you. As a result, victims of such frauds have no way of recovering their cryptocurrency.