A new fraudulent wallet service, Dash-Coin.net, is attempting to scam users.

Billed as a web wallet, the site attempts to gain users while maintaining access to their private keys, and therefore any funds sent to the wallet. The Dash Core team sent out a warning via Reddit:

www.dash-coin.net/wallet/login is a SCAM !!! Do NOT use !!! from dashpay

Several users already scammed

Unfortunately, the fraudulent wallet succeeded in acquiring several users already. According to Edward Stoever, who runs the online game site Dash.Red, several users signing up to the site had the same address, which was linked to the fraudulent wallet service:

“The Dash.red website has many security settings, one of which is to block transactions to the same Dash Address from different users. A member contacted me, the dash.red administrator, complaining that his transaction was blocked. In that communication, the member revealed that he got the Dash Public address from the “web wallet service” dash-coin.net. That is when I realized why different users were using the same Dash address. It is a simple yet effective fraud.”

Users should be careful to only trust officially vetted wallets

As the cryptocurrency space is still relatively experimental, users need to be aware of potential threats from fraudulent services, especially unproven wallet providers, which can potentially control users’ private keys and steal their funds. As a best practice, it’s safest to only use wallets included on the official list at Dash.org. Beyond that list, users should do their due diligence in vetting services that have access to their funds.