4 out of 5 Bitcoin QR Code Generators are Scams
|Ján Repa|source|8061x
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4 out of 5 Bitcoin QR Code Generators are Scams

They are the following websites which have already been reported to the competent authorities:

• mybitcoinqrcode.com

• bitcoinqrcodegenerator.net

• btcfrog.com

• btc-qr-code.net

 

According to ZenGo, these bitcoin QR code generating websites are scams. If you type “bitcoin QR generator” into Google, the first four out of the five results are links to these scam sites.

 

The method used by scammers is very simple. When a user tries to generate a QR code for his bitcoin address, malicious websites generate a QR code for the scammer’s own wallet. They just substitute the address of the wallet of the user with their own one.



One website collected 0.58 bitcoin in two months - equivalent to around USD 5,500. In total, over USD 20,000 was found in the four addresses listed. However, it is probably only a fraction of the total amount stolen.

 

Malicious websites are very adaptive, too - they generate fake addresses for any format out of the various bitcoin formats, making it even harder to detect the fake ones. An analysis of the code that forms the basis of the websites revealed that some scammers do not even use their own QR generators. Instead, they import the generator used on the popular Blockchain.com website.


In the past few years, the QR code has become a staple in the entire online cryptocurrency space. Instead of typing a 34-character address for each transaction, crypto users can just generate a QR code. The QR code essentially functions as a personal barcode linking back to the address of the user’s wallet. When a vendor is to receive a transaction, the buyer can just scan it with his smartphone.

 

ZenGo recommends people not to use Google if they want to generate QR codes for bitcoin but, instead, to use trusted websites, such as blockchain explorer (most of them are free).

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