‘Bitcoin Diamond’ is the Grinch That Will Steal Your Bitcoin

· December 25, 2017 · 4:45 pm

Hardware wallet Ledger has warned of scams using Bitcoin Diamond (BCD) to defraud users as suspicions around the hard fork start to mount.

‘They’ll Steal Your Assets’

In tweets late last week, the wallet manufacturer cautioned followers about fake websites purporting to let Bitcoin holders claim BCD coins.

Bitcoin Diamond is one of a growing number of promised Bitcoin hard forks to be formally announced since November.

A relatively unknown project, vague promises of faster network transactions and other fringe benefits are yet to see implementation, with only futures trading on around 20 exchanges.

Certain rogue actors are now enticing Bitcoin holders who are technically entitled to equivalent balances on the BCD chain to claim them, ostensibly by reuiring entry of sensitive security information.

Calling Time On ‘Scam Of Epic Proportions’

The warnings compound existing suspicions about Bitcoin Diamond’s developers and ethos, with a recent Medium post asserting the hard for itself is a “scam of epic proportions.”

Citing unusual social media activity, a lack of verifiable technical data and possible collusion with exchanges, the post warns Bitcoin holders to stay away.

“Bitcoin Diamond is unlike the previous forks of Bitcoin (Bitcoin Cash and Bitcoin Gold). Bitcoin Diamond is scam with huge red flags,” it begins.

Bitcoin diamond

While multiple forks are due to take their network snapshots this month with a view to a later launch, their reputations are frequently called into question.

Bitcoin Cash (BCash), perhaps the best-known of the forks currently on the market, has caused considerable contention through its erratic price behavior and the public activities of its major proponents such as Bitcoin.com owner Roger Ver.

Diamond, however, could yet stall before it reaches an audience.

“There is no blockchain and code for Bitcoin Diamond. It is a scam designed to steal your Bitcoins. If you have Bitcoin Diamond sell them immediately. You are holding Bitcoin Blood Diamonds,” the blog post concludes.

What do you think about Bitcoin Diamond? Let us know in the comments below!

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