Social Engineering Crypto Scams Likely To Spike As Ethereum Merges Over Next Few Days

Ethereum Merge / Countdown
1 days 8 hrs 32 mins

Every news event draws social engineering scammers. One popular crypto currency which uses block chain is Ethereum and it’s merging two forks within the next day or so to one codebase that is less energy demanding. The old proof of work (PoW) required miners with banks of special fast processors to crack complicated cyrptographic formulas to earn Ethereum which like bitcoin ate up huge amounts of energy. This number crunching is done by specially designed chips with banks of mining rigs. The merge will move to proof of stake. The bottom line here is that it requires less computer power and a slightly different mode called “staking” along with proof of work. This is a big event in the crypto world it’s likely to spawn a lot of social engineering scams. Don’t be fooled. Sheilds up.