[PSA] WARNING: HOW TO AVOID MASTERNODE SETUP SCAMS

[SwissBoo]

WE ADVISE: you should NEVER ALLOW anyone access to your server or masternode wallet (with or without Remote view).

There are reports coming in that people will hijack coins when you least expect it.

Author Magvie wrote: "Learnings from being scammed for 70,000 USD"
He was scammed through Discord when a stranger offered to help him setup his masternode.
https://steemit.com/zcoin/@magvie/learnings-from-being-scammed-for-70-000-usd

We created a service called SetupMasternodes in collaboration with the Crypto Dragon team to assist in the demand of the masternode space of crypto. We do not need any access to setup your masternodes!
The SetupMasternodes.com team created an ANN thread about the service: https://bitcointalk.org/index.php?topic=3213738

Please discuss if you've been in a similar situation or what your thoughts are on this topic

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[FrankWatsonJr]

There are people getting scammed left and right because of giving up their access to the masternode. I highly suggested users who do not know how to setup a masternode that you seek help from the community. Make sure to never give access. NEVER.

[masterhodl]

Unsophisticated or unskilled people better not risk it with running full masternodes. It's a hassle of running and securing them and yet your coins are in constant risk. Think about shared/crowdfunded/managed masternodes if you don't have the skillset to admin your wallets.

[Commie]

Unsophisticated or unskilled people better not risk it with running full masternodes. It's a hassle of running and securing them and yet your coins are in constant risk. Think about shared/crowdfunded/managed masternodes if you don't have the skillset to admin your wallets.

Not true at all. There's nothing risky about it and setting it up is quite easy. What constant risk are you talking about?

[Commie]

There are people getting scammed left and right because of giving up their access to the masternode. I highly suggested users who do not know how to setup a masternode that you seek help from the community. Make sure to never give access. NEVER.

I lost count how many times people in Discord DM'd me asking to help them set up and offering full remote access etc. None of them realised how crazy this was, some didn't believe me even after being told to never do this.

[SwissBoo]

There are people getting scammed left and right because of giving up their access to the masternode. I highly suggested users who do not know how to setup a masternode that you seek help from the community. Make sure to never give access. NEVER.

I lost count how many times people in Discord DM'd me asking to help them set up and offering full remote access etc. None of them realised how crazy this was, some didn't believe me even after being told to never do this.

oh my. These people need to be careful man. It is just like giving someone the keys to your home, and saying, "I'll be right back. Please don't steal anything."

[FrankWatsonJr]

no one knows of this

[Severos]

Unsophisticated or unskilled people better not risk it with running full masternodes. It's a hassle of running and securing them and yet your coins are in constant risk. Think about shared/crowdfunded/managed masternodes if you don't have the skillset to admin your wallets.

Not true at all. There's nothing risky about it and setting it up is quite easy. What constant risk are you talking about?

Constant risk because your coins are on a server that's connected to the internet 24/7 with open port, there are cracker programs running all the time scanning for servers and trying to crack their login, not to mention 0-day attacks (altho less likely)

[BillCoin]

Cool idea, I like the fact that you only have an access to the server's gen key.
I still can't understand people who want to set up a masternode but has no basic knowledge in crypto , setting up a masternode is not so hard if you follow a youtube video and there are many, and if you actually pay for the installation and you give to the service provider your private key, I guess that you deserve to lose your funds as it's like completely throwing it away.

[SwissBoo]

Cool idea, I like the fact that you only have an access to the server's gen key.
I still can't understand people who want to set up a masternode but has no basic knowledge in crypto , setting up a masternode is not so hard if you follow a youtube video and there are many, and if you actually pay for the installation and you give to the service provider your private key, I guess that you deserve to lose your funds as it's like completely throwing it away.

Actually, our services do not have access to the server's gen key. There is stil lsome risk, that we believe, that leaves the user open for issues, by having access to the Gen Key. We prefer not to help with that area.

I would say that people aren't educated enough to know the importance of their private keys and server access yet. This is why we believe it is in our duty to educate people in the process.

[FrankWatsonJr]

It is crazy that many people are still not aware of the scams that are going on in the masternode section.

It is recommended to NEVER allow anyone access to your masternodes.

[ferall]

he said it “Do not trust anybody”

Like cannabis cultivation

Rule 1 - tell nobody
Rule 2 - tell nobody
Rule 3 - 20 million - tell nobody

[SwissBoo]

he said it “Do not trust anybody”

Like cannabis cultivation

Rule 1 - tell nobody
Rule 2 - tell nobody
Rule 3 - 20 million - tell nobody

right, because giving up that info is like accessing your funds. do not do it

[checkmatesir]

WE ADVISE: you should NEVER ALLOW anyone access to your server or masternode wallet (with or without Remote view).

There are reports coming in that people will hijack coins when you least expect it.

Author Magvie wrote: "Learnings from being scammed for 70,000 USD"
He was scammed through Discord when a stranger offered to help him setup his masternode.
https://steemit.com/zcoin/@magvie/learnings-from-being-scammed-for-70-000-usd

We created a service called SetupMasternodes in collaboration with the Crypto Dragon team to assist in the demand of the masternode space of crypto. We do not need any access to setup your masternodes!
The SetupMasternodes.com team created an ANN thread about the service: https://bitcointalk.org/index.php?topic=3213738

Please discuss if you've been in a similar situation or what your thoughts are on this topic

I don’t really think this is a kind of thing that requires the help of anyone to setup, most especially strangers. It is an easy task, and if you can’t do it, then it’s best you don’t. Or maybe if the op’s system is legit, you can follow it. As for. Me I need nobody’s help in doing this kind of thing.

[SwissBoo]

WE ADVISE: you should NEVER ALLOW anyone access to your server or masternode wallet (with or without Remote view).

There are reports coming in that people will hijack coins when you least expect it.

Author Magvie wrote: "Learnings from being scammed for 70,000 USD"
He was scammed through Discord when a stranger offered to help him setup his masternode.
https://steemit.com/zcoin/@magvie/learnings-from-being-scammed-for-70-000-usd

We created a service called SetupMasternodes in collaboration with the Crypto Dragon team to assist in the demand of the masternode space of crypto. We do not need any access to setup your masternodes!
The SetupMasternodes.com team created an ANN thread about the service: https://bitcointalk.org/index.php?topic=3213738

Please discuss if you've been in a similar situation or what your thoughts are on this topic

I don’t really think this is a kind of thing that requires the help of anyone to setup, most especially strangers. It is an easy task, and if you can’t do it, then it’s best you don’t. Or maybe if the op’s system is legit, you can follow it. As for. Me I need nobody’s help in doing this kind of thing.

everyone is different

[SwissBoo]

i wonder if anyone who setup masternode using rented/leased vps (aws etc) end up being hacked by the employees/workers of the companies that own the actual machines.

There doesn't seem to be any hacking abilities that a server can do on its end. Even if an employee goes Rogue. The wallet remains with the masternode user.

[FrankWatsonJr]

this is still being missed my friends

[SunJAB]

Cool idea, I like the fact that you only have an access to the server's gen key.
I still can't understand people who want to set up a masternode but has no basic knowledge in crypto , setting up a masternode is not so hard if you follow a youtube video and there are many, and if you actually pay for the installation and you give to the service provider your private key, I guess that you deserve to lose your funds as it's like completely throwing it away.

Really be wary of all the social media sources. It may be helpful or not advisable to consider before tracking them. Learn how to protect your property and choose good sources to join. Reducing risk of losing money in investment is not fun at all.

[SwissBoo]

Cool idea, I like the fact that you only have an access to the server's gen key.
I still can't understand people who want to set up a masternode but has no basic knowledge in crypto , setting up a masternode is not so hard if you follow a youtube video and there are many, and if you actually pay for the installation and you give to the service provider your private key, I guess that you deserve to lose your funds as it's like completely throwing it away.

Really be wary of all the social media sources. It may be helpful or not advisable to consider before tracking them. Learn how to protect your property and choose good sources to join. Reducing risk of losing money in investment is not fun at all.

There you go. Well stated here. Be extra safe.

[FrankWatsonJr]

we can help you investigate users