- Ethereum Dapp, 333ETH has been labeled an “active scam” by MetaMask
- MetaMask’s blockade against platform said to be a means of protecting its community against fraud
- MetaMask team promises to deliberate more on 333ETH as they do not wish to be overly controlling towards users
In a recent report by TheNextWeb, MetaMask cryptocurrency wallet, a browser extension is blocking its users from accessing the most active and visited DApp on the Ethereum blockchain, 333ETH as it refers to the platform as an “active scam.”
333ETH is an investment platform which pays its investors a “guaranteed lifelong payment,” with an initial investment deposit of 0.01 Ether (ETH) (about $2.30 at the time of writing). Investors, thereafter, get 3.33% interest daily.
What sets the platform apart from other HYIP platforms is its smart contract feature. No administrator controls the platform directly, as calculations and payments are processed on the Ethereum blockchain and delivered to registered addresses.
The project, which was launched less than a month ago, has made its way to the top of the ranking table as recorded by DappRadar, making the platform the most used with a daily volume of over $1,000 in 2,000+ transactions.
Though the platform, 333 ETH has functioned exactly as promised until now, MetaMask believes the platform is an “active scam.”
Though there was no official notice before or after MetaMask took action to blacklist 333ETH, a Twitter user by the name Chris Blec had brought it to the notice of the crypto community saying;
“Very interesting that @metamask_io has blocked the #1 most-trafficked dapp because it simply doesn’t like it. From what I can tell, 333eth is an ownerless, autonomous, unstoppable smart contract with transparent code. Is it a good idea to use? No. Should bad ideas be blocked? NO.”
In answer to Chris’ comment, MetaMask replied, saying;
“This site was never the most used Dapp, and it was actively phishing people. 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.”
In further conversation, MetaMask made it known they were only protecting the interests of their user base, nevertheless, will further deliberate about the subject among the team.
Crypto Scam Trend In The Community
Metamask is by no means the only people in crypto who are exhausted by the high number of scams in the space. As 2017 saw an explosive growth in the price of Bitcoin and many other currencies, so too the space became rife with scams. Investors got greedy, and Cyber attackers, again and again, have been able to exploit the fact that many users saw promises of high returns and invested without due diligence. By so doing, many have lost part or all of their investments in crypto.
For good and ill, some platforms like MetaMask have taken it upon themselves to protect the interest of unsuspecting members of the crypto community from projects that are too good to be true.