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Lol a doubling scam. These scams have existed since MMOs began and you could trick people into giving you items/currency under false pretenses. Ironically a sm

Lol a doubling scam. These scams have existed since MMOs began and you could trick people into giving you items/currency under false pretenses. Ironically a smart contract is probably the safest way for a customer to engage in a doubling scam.

lostmsu 5y ago
That existed before MMO (Diablo parody) https://www.youtube.com/watch?v=qPsxIqawYpo https://www.youtube.com/watch?v=qPsxIqawYpo
Aunche 5y ago
It's hard enough for most people to read a contract written plain English. How do you expect to read one written in code?
- LaundroMat 5y ago
  To me, this (together with the fact that software will always have bugs) is why smart contracts are a very bad idea.
tbezman 5y ago
For those that aren't aware. It's pretty easy to write an escrow smart contract which ensures both parties got what they signed up for. But anyone falling for this scam definitely isn't going to ask "Can we use an escrow contract to double my money?"
- YATA0 5y ago
  >For those that aren't aware. It's pretty easy to write an escrow smart contract which ensures both parties got what they signed up for. Press F [0][1] to doubt. [0] https://hackingdistributed.com/2016/06/18/analysis-of-the-dao-exploit/ https://hackingdistributed.com/2016/06/18/analysis-of-the-da... [1] https://hackingdistributed.com/2017/07/22/deep-dive-parity-bug/ https://hackingdistributed.com/2017/07/22/deep-dive-parity-b...
tootahe45 5y ago
Not only was the doubling part from Runescape but this kind of live stream-replay tactic was also first used for phishing Runescape accounts when Twitch first got popular. They would replay developer live-streams with 'use the link below to log in for free RS membership' subtitles, and view-bot the streams to the front page of RS twitch. I wouldn't be surprised if it's the same guys who pivoted to crypto to target much more foolish victims.
YATA0 5y ago
>Ironically a smart contract is probably the safest way for a customer to engage in a doubling scam. Press F [0][1] to doubt. [0] https://arstechnica.com/information-technology/2021/12/hackers-drain-31-million-from-cryptocurrency-service-monox-finance/ https://arstechnica.com/information-technology/2021/12/hacke... [1] https://www.zdnet.com/article/poly-network-hackers-potentially-stole-610-million-is-bitcoin-still-safe/ https://www.zdnet.com/article/poly-network-hackers-potential...
- charcircuit 5y ago
  Are you just trying to say the smart contracts can have bugs in general? It's trivial to write a bug free money doubler smart contract. The logic needed is VERY simple.
  - ninthcat 5y ago
    If somebody is smart enough to verify that a smart contract does what it says on the tin, they should be more than smart enough to realise that crypto doubling is always going to be a scam.
    - charcircuit 5y ago
      The idea is that it is possible to set up an actual doubler smart contract that is not a scam. Sure it's not profitable to do, but it is a little funny.

lostmsu 5y ago

That existed before MMO (Diablo parody) https://www.youtube.com/watch?v=qPsxIqawYpo https://www.youtube.com/watch?v=qPsxIqawYpo

Aunche 5y ago

It's hard enough for most people to read a contract written plain English. How do you expect to read one written in code?

LaundroMat 5y ago
To me, this (together with the fact that software will always have bugs) is why smart contracts are a very bad idea.

tbezman 5y ago

For those that aren't aware. It's pretty easy to write an escrow smart contract which ensures both parties got what they signed up for. But anyone falling for this scam definitely isn't going to ask "Can we use an escrow contract to double my money?"

YATA0 5y ago
>For those that aren't aware. It's pretty easy to write an escrow smart contract which ensures both parties got what they signed up for. Press F [0][1] to doubt. [0] https://hackingdistributed.com/2016/06/18/analysis-of-the-dao-exploit/ https://hackingdistributed.com/2016/06/18/analysis-of-the-da... [1] https://hackingdistributed.com/2017/07/22/deep-dive-parity-bug/ https://hackingdistributed.com/2017/07/22/deep-dive-parity-b...

tootahe45 5y ago

Not only was the doubling part from Runescape but this kind of live stream-replay tactic was also first used for phishing Runescape accounts when Twitch first got popular. They would replay developer live-streams with 'use the link below to log in for free RS membership' subtitles, and view-bot the streams to the front page of RS twitch. I wouldn't be surprised if it's the same guys who pivoted to crypto to target much more foolish victims.

YATA0 5y ago

>Ironically a smart contract is probably the safest way for a customer to engage in a doubling scam. Press F [0][1] to doubt. [0] https://arstechnica.com/information-technology/2021/12/hackers-drain-31-million-from-cryptocurrency-service-monox-finance/ https://arstechnica.com/information-technology/2021/12/hacke... [1] https://www.zdnet.com/article/poly-network-hackers-potentially-stole-610-million-is-bitcoin-still-safe/ https://www.zdnet.com/article/poly-network-hackers-potential...

charcircuit 5y ago
Are you just trying to say the smart contracts can have bugs in general? It's trivial to write a bug free money doubler smart contract. The logic needed is VERY simple.
- ninthcat 5y ago
  If somebody is smart enough to verify that a smart contract does what it says on the tin, they should be more than smart enough to realise that crypto doubling is always going to be a scam.
  - charcircuit 5y ago
    The idea is that it is possible to set up an actual doubler smart contract that is not a scam. Sure it's not profitable to do, but it is a little funny.