bitcoinpaperwallet.com - scam still alive?

[NeuroticFish]

...
Something more: I fail to understand why are people still focused so much on classical paper wallets when they can run Electrum (either safely installed and verified, either from Tails OS), generate a seed and a few addresses and.. done.

Because at times you want to hand a piece of paper to somebody. The Opendime  / Satodime have a real cost to them and as I found out can fail. Yes a piece of paper with a private key can be damaged or destroyed too.

I guess that I was not clear enough, so I'll say it a bit different: why generate a paper wallet with private key when one can as easy generate a HD seed, which is less prone to errors too?

[1714492001]

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[1714492001]

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[1714492001]

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[DaveF]

...
Something more: I fail to understand why are people still focused so much on classical paper wallets when they can run Electrum (either safely installed and verified, either from Tails OS), generate a seed and a few addresses and.. done.

Because at times you want to hand a piece of paper to somebody. The Opendime  / Satodime have a real cost to them and as I found out can fail. Yes a piece of paper with a private key can be damaged or destroyed too.

I guess that I was not clear enough, so I'll say it a bit different: why generate a paper wallet with private key when one can as easy generate a HD seed, which is less prone to errors too?

Ease of use and importing.
Making an example of myself, I have a stack of pre-printed unfunded paper wallets. Sealed with just the BTC address and it's QR code showing.
If I want to give someone BTC0.01 for something. I scan the QR and send the BTC to it and hand it to them.
They can then use just about any phone app to sweep the BTC into that wallet on the phone, or if they have a desktop wallet (including core) all they have to do is import that private key.

No they are not for day to day use and no they are not the best for everything. But they do have their use. At least for me....

-Dave

[NeuroticFish]

Making an example of myself, I have a stack of pre-printed unfunded paper wallets. Sealed with just the BTC address and it's QR code showing.
If I want to give someone BTC0.01 for something. I scan the QR and send the BTC to it and hand it to them.

Interesting approach. I've never sweeped a paper pallet, I've imported it if needed.
And I've never denied that paper wallets have their use (still most widely compatible, I know), but unlike the average user, you know how to generate them safely.

Imho for an average user the seed is easier, he doesn't need any shady website for it, just a wallet application, he doesn't need a printer for it, pen and paper will do... all can be done easy enough even offline.

[doomloop]

Not everyone uses MetaMaks..

What I see the guy still hold coins, and he scammed already hundred and hundres of dollars. No way to withdraw them, so it just matter when authorities will start investigate this case. Also all victims can make one money pool and just hire lawyer to start proceeding him.

Yep, not all people uses meta mask but the some of them uses trust wallet but if I am not mistaken, there is also a warning when you visit some website inside the trust wallet. One of it is when you use pancakewap. You will see a warning above the url that says always check the address if its correct to avoid  getting phished.

We do not need to depend our safety in these wallets. It is not about the wallets that we use but it was about researching the website first if its legit or not before we use it. I think its pretty obvious that scams can happen with a site like this because I think requires your private keys to generate a paper version wallet. Wonder why people take a risk with this things.

[o_e_l_e_o]

Because at times you want to hand a piece of paper to somebody. The Opendime  / Satodime have a real cost to them and as I found out can fail.

The benefit of the OpenDime though is that the receiver can be pretty confident you don't know the private key. Handing someone a paper wallet is incredibly insecure for the receiver. If I was accepting a paper wallet from someone it would have to be someone I trusted enough not to scam me, and in such a case I would trust them enough if they said "Give me your address later and I'll send you what I owe you."

Interesting approach. I've never sweeped a paper pallet, I've imported it if needed.

It's fine to import your own paper wallet to an airgapped device, but if the paper wallet was given to you as per Dave's example, then you should absolutely sweep it so the other party can't steal the funds and so you don't have to trust how securely they created the paper wallet in the first place.

[DaveF]

The benefit of the OpenDime though is that the receiver can be pretty confident you don't know the private key. Handing someone a paper wallet is incredibly insecure for the receiver. If I was accepting a paper wallet from someone it would have to be someone I trusted enough not to scam me, and in such a case I would trust them enough if they said "Give me your address later and I'll send you what I owe you."

I have them more for people who don't have phone wallets or don't want to have that much BTC in their hot phone wallet.
If you don't have the ability or the desire for me to send it to you right then and there you take what I give you :-)
Somewhat of a hardass attitude I know, but I think you get the idea.

Not to mention opendimes and the like have a significant cost to them.

If I have to give you BTC0.0051 ($200) at the current price and you don't want it on your phone for whatever reason, do I give you $180 and you eat the cost of the opendime or do I give you the full $200 and a tip of a $20 piece of equipment.

-Dave

[o_e_l_e_o]

Fair enough. Far be it from me to dictate how you use bitcoin, but I still think such a set up is sub-optimal at best. Handing a paper wallet to someone means they must trust you completely - both your honesty and your technical competence. As I said, if I trust someone that much, then I trust them enough to just pay me properly at a later date when it is more suitable. Or even better, I just carry around a copy of a few addresses from my hardware wallet or other cold storage. If I don't want to receive the funds to my mobile wallet, then I can just give you one of my cold wallet addresses there and then.

I do agree that the cost and single use element of OpenDimes are a significant drawback.

[shYter90]

One interesting transfer was to this address:
https://www.blockchain.com/btc/address/bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h it holds 35016.15030071 BTC

That address is a Binance hot wallet.

What was the path of coins from your wallet to this Binance address? Obviously they have been deposited to Binance at some point, but that does not mean the person who deposited them to Binance was the person who stole from you, and even if it was, it doesn't mean they were deposited under the scammer's account or name.

May I ask you how have you indicate this address bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h as binance hot wallet?

[hosseinimr93]

May I ask you how have you indicate this address bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h as binance hot wallet?

The address in question has been used many times for consolidating deposits and sending the payments to binance users. So, it's known that the address is owned by binance.

[Potato Chips]

@shYter90, there are also block explorers that tags these known addresses from exchanges e.g. walletexplorer.com however it's not privacy friendly if that is something you care about.

[o_e_l_e_o]

@shYter90, there are also block explorers that tags these known addresses from exchanges e.g. walletexplorer.com however it's not privacy friendly if that is something you care about.

I find oxt.me and breadcrumbs.app to be better for this purpose. They are both much easier to use, and walletexplorer tends to be quite out of date and does not correctly identify most newer addresses which belong to various exchanges and services. Both the sites I mentioned clearly identify this address as a Binance hot wallet:
https://oxt.me/address/bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h
https://www.breadcrumbs.app/reports/bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h/2