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333ETH deemed as ‘active scam’ by crypto wallet MetaMask - Decentralized Apps. Friday, September 28

28 september 2018, 19:54 by Jesús S. Affigne

333ETH deemed as ‘active scam’ by crypto wallet MetaMask

The Dapp is one of the most popular among Ethereum users

Users of cryptocurrency wallet MetaMask have found today with a particular warning message when trying to access the controversial, decentralized application (Dapp) 333ETH. The message, featuring a red background with the characteristic logo of the browser extension and white letters, prevents users from accessing 333ETH website because it has tested positive on the Ethereum Phishing Detector.

On their official Twitter account, the also Ethereum Dapp extension for browsers replied to a complaint about the blockade, by stating that it was an ‘active scam’ and that in fact, it wasn’t even the most used Dapp. “We will be adding the ability to skip our block page, we don't mean to tell people what they can visit, but this site is an active scam,” reads the response by MetaMask.

They further continued responding complains by stating it was to keep users safe, and that they could reconsider the blockade after discussing it within the team.

333ETH – too good to be true

MetaMask has it fair share of reasons to put the aforementioned Dapp into their blacklist. It has been compared to a Ponzi scheme due to the way it works: by taking an ‘initial investment’ from the users to cover costs of marketing, payroll and other technical issues, and then returning the investor a 3.33 % dividends of the amount in ETH initially sent to the Dapp by the user, in a daily basis, ensuring ‘lifelong’ payments to all their investors.

Usually, these kind of ‘promises’ are accomplished at the beginning, and last for as long as the inflow of contributions is kept, which will inevitably leave their users with dust in their hands – some of them with even more dust than others.

Even so, it is currently the N° 1 dapp in the Ethereum network by user activity, according to DappRadar. Needless to say, it is adviced to be cautious when using apps that are deemed as ‘High-Risk’.

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