Ethereum mining pool Flexpool accused of being used by ETHW for logo may be a scam

The web.archive.org webpage inventory cache website shows that on August 7, the ETHW official website will be Huobi, Binance, KuCoin, Gato.io, Poloniex, FTX, Hiveon, Flexpool, 2miners, Bitfly (Ethermine.org), f2pool etc. are listed as partners and contributors/supporters.

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Then ETHW Twitter tweeted on the 15th to announce that the initial version of the first ETHW node core has been released, and some functions have been updated, including disabling the difficulty bomb, canceling the EIP-1559 burning, adjusting the initial ETHW starting mining difficulty, etc.

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Flexpool accused of fraudulent use of LOGO by ETHW

For its own brand to appear on the ETHW official website, the Ethereum mining pool Flexpool issued an official statement on the 15th, saying that with Poloniex and some other exchanges announcing that they will support the PoW fork of Ethereum (called ETHW), some unknown Celebrities created the EthereumPoW.org website, claiming that the project is the real ETHW.

However, Flexpool cautioned that this project is likely to be a scam. Flexpool is not affiliated with ETHW. In addition, after a quick review, Flexpool found that the project has many other red flags, including:

1. The site is an effortless one-page site, the author is anonymous

2. The project allocates the base fee of EIP-1559 to an unknown wallet instead of burning it

3. The project code has a lot of stupid mistakes; they look very unprofessional

Flexpool said that you should think twice before interacting with this project or visiting this website, which faked its logo on its website, listed it as a contributor without Flexpool’s consent, but “never has We were contacted by the folks at EthereumPoW.org and we hadn’t heard of them before.”

ETC officials also warn that ETHW is untrustworthy

In fact, according to a previous report by the currency circle (120BTC.com), the official website of Ethereum Classic (ETC) also tweeted on the 19th that ETHW was untrustworthy, and listed five major shortcomings of ETHW, including “EIP-1559 Cancellation of burning and reallocation. “multi-signature”, “censorship of lock-up volume and smart contracts”, “confusion, mandatory decision-making”, “lack of community-driven”, “the website mistakenly lists some exchanges and mining pools as contributors/ supporters” etc.

Today, many exchanges listed as partners and contributors/supporters on the ETHW official website, including Binance, FTX, etc., have clearly stated that they support POS, and some mining pools such as Bitfly have also clearly stated that they will not support POW forks, so, ETHW seems to be unilaterally listing its supporters and partners first, and the current ETHW official website content has removed the contributor/supporter block.


Post time: Sep-12-2022