Damn. This is brutal, especially when the Ethereum price is skyrocketing. People must be so happy and over the top when they see in the coinmarketcap website that Ethereum is skyrocketing and glad that they bought some - only to be hammered when they see that their coins are gone due to them storing them on a service that seemed to be all legitimate and well in the first place.

Linking to the reddit thread you're referring to so that everyone else can have a better look into the situation: https://www.reddit.com/r/CryptoCurrency/comments/6gtrmd/freewalletorg_scam_millions_stolen/

Is there any proof that free wallet is affiliated with Changelly? If yes people should avoid using them too.

This is great example how cryptocurrency is making scamming people and getting away without any legal consequences. Many many new peoples are getting scammed one way or other. ICOs are also great way for scammers to collect large sum. People are throwing money in ICOs madly.

If you don't own the private keys and make sure that the code has been audited and is open source, as well as doing your own research beforehand on the company that is producing it, whether any public figures are involved/or just an anonymous team, then you don't own any coins that are stored on the wallet. You won't trust anyone on this forum with $1k, why should you trust someone just made a site and a program, and nothing else with the same thing?

This said, nobody deserves to get scammed. So i wish all the best to these people who got scammed, and hopefully they have learned a lesson.


This isn't an ICO for starters. Crypto if used correctly can actually help mitigate scams(chargebacks, hacked CCs etc.) but yes, its irreversibility is something that scammers love.

Any updates on this? Anyone who used them?  I never signed up with them but they seemed to be one of the only XMR/Monero GUI wallets out there, but then I decided to do some research and came up with threads like these.

I payout bcn in 3 days ago. And it is sending.... Fukkkk

People love catchy headlines! $8 million stolen... oh wait, it was $7 million... oh wait, but from whom? If you read the original thread on Reddit, you'll see that there's not a single person who actually lost money with Freewallet! The reason our users got worried is because they checked their wallet balances on the blockchain explorer and found out the funds aren't there. However, the address displayed in the app is a so-called "hot wallet" used for receiving transactions. We consider keeping the funds there as well as storing private keys locally a risk because if the access to your device is compromised, it would give a hacker an opportunity to steal your assets.

That is why after our user receives a transaction, the funds are moved to the cold storage. Whenever he/she needs to make a transaction, the funds are transferred from the cold storage as well. Their actual balance is displayed in the app; what people see on a blockchain explorer is most likely an intermediary transfer of funds in/out of the cold storage (and our users aren't charged with any fees for such transactions). That's exactly what it was: rebalancing between different cold storages. Not piping their funds to an outside source.

Of course they are redirecting. For instance their steem wallet how do you suppose they keep that. You need an account with steemit to have a wallet for steem. Just think. You can easily relate if you have an account with steemit or bitshares for that matter.

I note these articles:

https://en.wikipedia.org/wiki/Freewallet
https://bitcoinexchangeguide.com/freewallet/

If it's a scam, it's a REAL good one.

BTW some may note the team is in Estonia.  I confess to being ignorant and thinking Estonia was an eastern European country.  It isn't.  It's northern European.  They seem well ahead of the world in tech in a general sense in that they were the first nation in history to hold an election over the Internet.  I quote:  https://en.wikipedia.org/wiki/Estonia

'Estonia is a developed country with an advanced, high-income economy that as of 2011 is among the fastest growing in the EU.[19] Its Human Development Index ranks very highly,[7] and it performs favourably in measurements of economic freedom, civil liberties and press freedom (3rd in the world in 2012 and 2007).[20] The 2015 PISA test places Estonian high school students 3rd in the world, behind Singapore and Japan.[21] Citizens of Estonia are provided with universal health care,[22] free education[23] and the longest paid maternity leave in the OECD.[24] Since independence the country has rapidly developed its IT sector, becoming one of the world's most digitally advanced societies.[25] In 2005 Estonia became the first nation to hold elections over the Internet, and in 2014 the first nation to provide E-residency.'

i also have no problem what so ever, somone got pissy pants with them made a pic with java script and posted it noe the whole world is all bad freewallet, judge on your own experience not some fake ass crap some hot-tempered person put out of anger, freewallet is all good

$8 million.. wow! much amount. I would stay away from freeWallet.org. Thanks for your heads up.