Vanity address scam rising

[dkbit98]

So is it profitable for hackers and how much easy it is generate such vanity address? And its cannot be done by a single individual because it's require much processing power and other things.So what are your thoughts on this?

It is not that hard and there is a step by step Guide to create your customized Vanity Bitcoin-Address and Guide How To Create Vanity Address with Vanitysearch.
There is also VanityPool for requesting vanity address, and websites like Originaladdress.net that can generate it but not sure how legit and safe it is to use.
To create address starting with musk it takes about 20 hours, with sat takes 20 minutes, and I created address starting with 69 in 1 minute.

I have no idea why people like Vanity addresses so much that they are even willing to send Bitcoin to scammers like it happened few days ago when someone sent 5 BTC to fake giveaway address starting with 1EMusk...

WhaleAlert reported it and they probably used youtube and fake websites Elon Musk websites like this:

Code:

elon2x.com
elonceo.com

https://twitter.com/whale_alert/status/1366510689720803330

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[Silberman]

--snip--
I'm not really sure how people think Elon Musk needs donation. Probably the same way as a Nigerian Prince scam.

LOL. Those scams generally don't ask for donations. They advertise themselves with something like "Elon Musk decides to giveaway bitcoin in celebration of SN10 landing". Then they'll have some explanation about how the most tech-savvy man wants you to "learn" bitcoin. So, as a proof, you need to send some BTC and Musk will send you double of that.

There generally are lot of supporting replies saying, "OMG, My life has changed. Thank you so much @elon"..

It is indeed funny that people still fall for these scams.

I do not really use social media as I do not have a need for it so I find interesting how they can justify asking for money in a scam when the person they are impersonating does not need money at all, this is why I have always thought that while it is important to protect yourself from hackers at the same time you need to make a greater effort to protect yourself from scammers as they are the ones that can really get to your coins easily by convincing people to give them away to them.

[Mpamaegbu]

There are many mining pools who take fees from you for you desired Bitcoin addresses as they have more computing power dedicated to the network instead of individuals computing power

Those addresses are also risky to use, even if the mining pools are legit.

With all that I have read here now, I don't know what to make of this vanity address voluntarily generated by a wallet app I use which has the first three letters unique to me.

1KEnUFrUZmMK6CfyCGdFex8uByJyDeVB1z

I didn't do anything to generate that. I just saw it that way and felt cool about it but I haven't used it since then. Now reading all this here makes me skeptical using it. Is my wallet compromised already?

[NotATether]

It is indeed funny that people still fall for these scams.

It's not, and probably will never be.

What we are seeing is a lack of basic education and common sense that could've been fostered if websites and YouTube media actually started giving their viewers fact-checks about bitcoin:

"People's bitcoin cannot be doubled"

"People cannot hack the blockchain to make free bitcoin"

"If you see a guy trying to give away bitcoin to you, he's usually trying to rob you - RUN THE OTHER DIRECTION!"

[ecoin_org]

I generated 1AtbigzwifNVeP5HikDcKtpBuv1crpGTTq

Big Z Wifn Hik Dck why wouldn't you want that?

but on a serious note how could someone else ever want to use it if I know the private key?

[adaseb]

I generated 1AtbigzwifNVeP5HikDcKtpBuv1crpGTTq

Big Z Wifn Hik Dck why wouldn't you want that?

but on a serious note how could someone else ever want to use it if I know the private key?

Man reading this thread title sure brings back memories.

Basically nobody will use an address if they know someone else has the private key. But there is a way how one party can generate a vanity address for you and the private key will still be in your possession and only your possession.

I forgot the name but there was a company that did this. I think you provided half the key and the other half was private and in some way it was safe to get a 3rd party to generate a key for you.