Bitcoin Flash a new form of scam

[codehtcmail]

Someone contacted me on my email telling me about Bitcoin Flash, it's a fake bitcoin transaction that stays visible for some period of time like 60 or 90 days, has a finite number of transfers in that period, like 25 or 50 transfers that also disappear at the end.
I am not understanding the whole concept of it, and this maybe old news to some but it's new to me and some others I guess. I've heard of Bitcoin transfers disappearing before (dropped due to low fees) but this Bitcoin Flash thing is something I never imagined. It seems there are even different versions of it, the guy who proposed it said it was 8.1.1, I don't even know 8.1.1 of what ??!!
This is only to warn and educate and also to ask how to defend ourselves from such scams if anyone more technically advanced would give his opinion.
By the way he was propsing 35 bitcoin Flash for 7000 USDT, said it was valid for 50 days from activation (activation of what ??) and transferable 25 times.

Again, this is to warn and educate and learn about some form of scam and how to proptect agains it.

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[NotATether]

There's no such thing as a chain of disappearing transactions in Bitcoin. Are you sure they are not telling you about some kind of altcoin? (the fact that you mentioned USDT makes me suspect this).

The closest you can get to this kind of concept is a "fake transaction generator" that uses Child-pays-for-parent to make a long chain of tiny transactions that spend each others unconfirmed outputs, but all those can do is spam the network, you wouldn't create one yourself with a big-spending amount in order to get yourself scammed for example.

P.S. if the email sender is a funny-looking email address, it is probably some kind of extortion campaign so just ignore the email.

[BitMaxz]

I never heard about Bitcoin flash before and I'm confused it seems a double-spend it works like he sends a BTC to you with a low fee and made another transaction with the same input but sent it back to his wallet with a higher fee. So, the first transaction will be rejected on the mempool and disappear in any explorer.

If it's an altcoin Bitcoin flash I guess then you can't able to see any transaction on any Bitcoin explorer.

About this

By the way he was propsing 35 bitcoin Flash for 7000 USDT, said it was valid for 50 days from activation (activation of what ??) and transferable 25 times.

It sounds like a scam that mostly scammer do.

[janggernaut]

Bitcoin Flash, when i searched about this, i only  found bitcoin flash cash https://cmc.io/coins/bitcoin-flash-cash/exchanges

with price $0.0021, 35 bitcoin flash cash only worth $0.0735 or less $1. Such huge scam he is asking you for $7000.

An advice for OP, don't ever click or join in any of offer from strange email which has sent to you. They could put phising link in that email

[codehtcmail]

There's no such thing as a chain of disappearing transactions in Bitcoin. Are you sure they are not telling you about some kind of altcoin? (the fact that you mentioned USDT makes me suspect this).

The closest you can get to this kind of concept is a "fake transaction generator" that uses Child-pays-for-parent to make a long chain of tiny transactions that spend each others unconfirmed outputs, but all those can do is spam the network, you wouldn't create one yourself with a big-spending amount in order to get yourself scammed for example.

P.S. if the email sender is a funny-looking email address, it is probably some kind of extortion campaign so just ignore the email.

The email was a protonmail address. What ticked me was that he was talking about versions, didn't say versions of what but I guess of a fake transaction generator.

I ask just for this, could a transaction or a chain of transactions stay in the mempool for 90 days ? the longest I've seen was 21 days.

[HCP]

There was an altcoin back in 2018 called Bitcoin Flash (BTF)... but it's a dead project as far as I can tell.

So, I've no idea what this particular incarnation of "Bitcoin Flash" is.

From what you've described, it seems like some sort of mechanism for scamming newbies who don't understand the dangers of zero confirmation transactions... whereby you can convince them that you've sent them X BTC (perhaps they have some sort of fake "blockexplorer" etc)... You then get them to send a bunch of goods, altcoins or fiat etc... and then the transactions all "disappear" after 90 days, by which time you've also disappeared.

Hopefully this thread gets index by Google so when people start googling "Bitcoin Flash" they find this thread.

I ask just for this, could a transaction or a chain of transactions stay in the mempool for 90 days ? the longest I've seen was 21 days.

Theoretically, you could push a transaction (or chain of transactions) into the mempool indefinitely... and when I say "the mempool", you have to remember that there isn't just "one" giant shared mempool, each node maintains their own mempool (with their own acceptance/rejection and retention rules).

But, assuming your transaction does not get included in a block or becomes invalidated by UTXOs being spent/confirmed in other transactions... someone could just keep rebroadcasting the transaction indefinitely... and your transaction could just keep floating about forever.

If the mempool emptied out and/or fee rates were back to 1sats/byte levels... this would in extraordinarily difficult to do tho.

[robelneo]

I've been transacting for the last 6 years and I have never heard or read anything like a disappearing transaction this is something new, even on other altcoins or tokens I have never read anything like that, I don't know how's that possible, you should complete the details, the guy just want to scam you with his software, the best thing is to ignore him, but it's good that you posted it here for awareness.

[DaveF]

If you have time it might be worth actually replying back and asking for a demo.

Setup a disposable email account so it does not get mixed in with your regular one and only follow links they send from a machine that you can wipe afterwards, with no BTC / personal info on it in case the sites have malware that your AV does not catch.

This will waste the scammers time, and possibly get a bit more information about it.


That or just hit the delete button.

-Dave