Bitcoin Forum
April 16, 2024, 09:44:11 AM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Scammed by TORWallet!  (Read 2137 times)
DannyHamilton
Legendary
*
Offline Offline

Activity: 3360
Merit: 4570



View Profile
January 22, 2013, 04:03:39 PM
 #21

. . . If I'm not mistaken, the people behind TORwallet won't be able to access the individual wallets . . .
Why would you think that?  I'm pretty sure they can.

Because of that unique address you need to access the wallet. Of course, it was setup to be a scam from the beginning they could harvest that someway on registration, but the coins I deposited are still sitting in my unique wallet so I'm not sure what is what Smiley
The way it works is:

They give you a unique address.
This address is associated by them with a bitcoin address (or addresses) in their wallet.
Because the bitcoin addresses are in their wallet, that have the private keys and full access to send the coins wherever they like.
This means that when you add bitcoins to TORWallet, you are giving them your bitcoins and trusting them to give them back on request.
The unique address allows you to see how many of their bitcoins were sent by you to them.
When the scam hadn't been activated yet, it also allowed you to request that they send some of those bitcoins elsewhere.
When the scam hadn't been activated yet, your request would be honored, and they would send their bitcoins to the address you requested them to be sent to.
The unique address keeps someone else (other than you and them) from requesting that those bitcoins be sent somewhere.
After the scam is activated, they no longer honor requests from you to send their bitcoins anywhere, they can still send them anywhere they like, anytime they like.
1713260651
Hero Member
*
Offline Offline

Posts: 1713260651

View Profile Personal Message (Offline)

Ignore
1713260651
Reply with quote  #2

1713260651
Report to moderator
1713260651
Hero Member
*
Offline Offline

Posts: 1713260651

View Profile Personal Message (Offline)

Ignore
1713260651
Reply with quote  #2

1713260651
Report to moderator
1713260651
Hero Member
*
Offline Offline

Posts: 1713260651

View Profile Personal Message (Offline)

Ignore
1713260651
Reply with quote  #2

1713260651
Report to moderator
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1713260651
Hero Member
*
Offline Offline

Posts: 1713260651

View Profile Personal Message (Offline)

Ignore
1713260651
Reply with quote  #2

1713260651
Report to moderator
constitution
Newbie
*
Offline Offline

Activity: 28
Merit: 0



View Profile
January 22, 2013, 05:56:31 PM
 #22

So many scammers in BTC world hard to trust anyone.
DannyHamilton
Legendary
*
Offline Offline

Activity: 3360
Merit: 4570



View Profile
January 22, 2013, 05:57:15 PM
 #23

So many scammers in the world hard to trust anyone.
FTFY  Wink
sorped
Newbie
*
Offline Offline

Activity: 13
Merit: 0



View Profile
January 22, 2013, 11:31:52 PM
 #24

. . . If I'm not mistaken, the people behind TORwallet won't be able to access the individual wallets . . .
Why would you think that?  I'm pretty sure they can.

Because of that unique address you need to access the wallet. Of course, it was setup to be a scam from the beginning they could harvest that someway on registration, but the coins I deposited are still sitting in my unique wallet so I'm not sure what is what Smiley
The way it works is:

They give you a unique address.
This address is associated by them with a bitcoin address (or addresses) in their wallet.
Because the bitcoin addresses are in their wallet, that have the private keys and full access to send the coins wherever they like.
This means that when you add bitcoins to TORWallet, you are giving them your bitcoins and trusting them to give them back on request.
The unique address allows you to see how many of their bitcoins were sent by you to them.
When the scam hadn't been activated yet, it also allowed you to request that they send some of those bitcoins elsewhere.
When the scam hadn't been activated yet, your request would be honored, and they would send their bitcoins to the address you requested them to be sent to.
The unique address keeps someone else (other than you and them) from requesting that those bitcoins be sent somewhere.
After the scam is activated, they no longer honor requests from you to send their bitcoins anywhere, they can still send them anywhere they like, anytime they like.

Got ya, thanks for the explanation! Smiley
entreprenr
Newbie
*
Offline Offline

Activity: 9
Merit: 0


View Profile
January 23, 2013, 08:30:08 AM
 #25

I made the mistake once to trust a BTC mixing service (though with a small amount) on the darknet. Never again. Just to save newbies time and trouble: They are ALL scams, no exception.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!