Ever since Masternodes exist, we all want to profit from the passive income opportunity. Unfortunately, some users don’t possess the required amount of coins to set up their own Masternode, which posed the question for a sharing service.
Shared Masternodes Pros
Finally, shared Masternodes are reality and we all can profit to configurate one with your friends. Here’s the place to repeat, guys – friends. Starting a journey, relied to trust requires you to cooperate with people you know, essentially when there’s nothing else to protect you and your funds. If you and your siblings or colleagues have some money on the side and you’re ready to put it all together for the sake of gaining a passive income, you can setup together a shared Masternode. All your coins will be on the same address and you’ll fulfil the minimum collateral requirement.
Shared Masternodes Cons
All good but one of you should take care of the private key. This is the person, who’ll be responsible to keep it safe and avoid any security issues. Anyway, this could also be a third party to store your credential, without participating in the Masternode. The person to manage this additional role can transfer your funds in another address and run away with no clue, so you should really keep an eye on him, right?
Fresh GIN-Deviant example
The most recent example of how this happen occurred last week. The GIN and Deviant channels observed that on Tuesday night several nodes suffered a loss of $170,000. The private keys of all the robbed Masternodes were in possession of the same person in charge. When he referred to police, committing cybercrime against him, they advised him to make a public statement, and he it is:
“Tonight, my personal computer was breached by attackers. The attackers have managed to gain access to my cryptocurrency wallets. They first broke into my Google account at 2018-10-02 18:47 UTC. After this, they logged into several other online accounts, including cryptocurrency exchanges and cloud storage. Despite never storing important passwords in digital form, always using 2FA where available and practicing good security, funds were still stolen. At 2018-10-02 20:05 UTC 64348 GIN were stolen. At 2018-10-02 20:07 UTC 10353 DEV were stolen. These were 99%+ all the funds that I held for this shared Masternode service. A few minutes later, I shut down my PC. It still remains off.” – Tiamo
Conclusion
Dutch authorities are already working to find out who’s the perpetrator. GINcoin released a statement for all the users starting to worry about their coins, that they tested the network and found no breaches which can impact the network. This attack is considered an isolate case at the moment, but anyway it can happen to anyone who shares a Masternode with strangers they don’t know personally. Always think of the consequence and never invest more than you’re ready to lose. At this point, what’s important is to really ask yourself with whom you cooperate, and do you really trust them, since trouble is always behind the corner.