»

Beware of BitLottery at bitlottery.xyz

 +
Beware of BitLottery at bitlottery.xyz

Would you share this article with others to help inform them?

Online users, the Bitcoin lottery called BitLottery located at www.bitlottery.xyz, which claims participants can win Bitcoins with their CPUs, in my opinion, is a scheme being used to persuade millions of gullible online users into using their computers to mine Bitcoins. The people behind the scheme persuade online users into installing a Chrome Extension that silently uses their computers' processing time to mine Bitcoins. The same people behind the so-called lottery will earn a lot of money from the mining operations, and a few random participants may get paid.

Please continue reading below.

BitLottery at www.bitlottery.xyz

BitLottery at bitlottery.xyz

A Chrome extension that rewards CPU usage with a chance to win Bitcoin. Win Bitcoin with your CPU.

Since it is very expensive and time-consuming to mine Bitcoin, techy savvy people realized that they can use the collective processing power of individual computers worldwide to do it. The hardware to process Bitcoins is very expensive, a big area is needed to store the hardware, and a lot of cooling is needed to prevent the hardware from overheating. This includes buying very expensive cooling systems.

Now, with the very expensive hardware comes a very big electricity bill because a lot of electricity is needed to power the hardware and the cooling system.

Using individual computers around the world to mine Bitcoin is very cheap because no setup and maintenance are required, there no need to rent space for the hardware, and there is no need to pay for electricity and other utilities. And, doing lotteries where only a few persons will earn money from Bitcoin mining makes it very profitable for the people operating them, and not the participants.

We have seen cybercriminals do something similar to BitLottery. But, instead of creating a lottery, the cybercriminals trick online users into installing Bitcoin mining malware or malicious Chrome Extensions, which silently uses their computer or mobile device processing or CPU power. This slows down the victims' computers or mobile devices and drains their laptop computer and mobile device batteries very quickly.

Remember, no one knows where BitLottery is located and who is operating it. So, why install an app or Chrome Extension that you have no idea who created it and what it is doing when it is running on your computer. It could steal your information or spy on you. You just do not know. Plus, it is using a ".xyz" domain name, which is being abused by cybercriminals, who are creating fake websites to trick online users into sending them their personal and financial information.

Note: Some of the names, addresses, email addresses and telephone numbers in email samples on this website may have been impersonated.

Please share what you know or ask a question about this article by leaving a comment below. Also, check the comment section below for additional information, if there is any.

Remember to forward suspicious, malicious, or phishing email messages to us at the following email address: info@onlinethreatalerts.com

Also, report missing persons, scams, untrustworthy, or fraudulent websites to us. Tell us why you consider the websites untrustworthy or fraudulent.

If you want to quickly find answers to your questions, use our search engine.

You can help maintain Online Threat Alerts by paying a service fee. Click here to make payment.

Comments, Questions, Answers, or Reviews
(Total: 0)

To help protect your privacy, please do not post or remove, your full name, telephone number, email address, username, password, account number, credit card information, home address or other sensitive information in or from your comments, questions, or reviews. Also, anonymous posts cannot be deleted or edited, and when you make a post, we will use your IP address to display your approximate location to other users.

Please continue reading below.

Write Your Comment, Question, Answer, or Review
Write your comment, question or review in the box below to share what you know or to get answers. Please revisit after an hour or more to view reponses or answers to you questions.

Your comment, question or review will be posted as an anonymous user because you are not signed in. Sign-in.