Topic: 0.73BTC stolen by Localcoin.is - page 2. (Read 759 times)

You don't have to first wait until your funds are stolen before you can start to believe that they are scammers. Plagiarism of the whitepaper, fake team etc is enough to make you avoid them. That's shady and unprofessional and that what most scammers here always do.

Sorry for your loss but this should act as an eye-opener. When you see a red flag or a legitimate warning from someone else. Avoid the service at all costs.

I hope they do the right thing and return your funds but after that they take long hard look at themselves and charge their practices and reform otherwise they will not last long before their reputation becomes so well know that they will have no users at all.

Because as far as I am aware I am the first person to claim that their funds have been stolen. A plagerised whitepaper is a bit less serious than stolen funds. Anyway I know I am an idiot but the point of this post is so when searching other people clearly see that Localcoin.is has started stealing money.

The other point I guess if Localcoin.is is reading this and they do want to try to repair the damage they can show they are not scammers by paying me back.

You could also see that recently they offered their fake usd in bitcointalk forum for registration on their crapchange.
I posted few posts their also

I am sorry to read about your loss. Sadly it is a lot of money to lose. I have tagged the scammer, I hope others do not fall for their scam.

After reading the chat logs I am surprised by the level of openness the scammers showed by saying you should bring more users to them to have any chance of getting your funds back. It means they want you to send people to them so they get scammed. Disgusting.

What is your next step in trying to retrieve your funds? Is there any way users from this forum could help?

Same suggestion is continuously providing by our community users to keep them far from scam projects but sorry to say that most of the time these guys don't feel it necessary to gather some information before investing their money. This necessity increase when they totally understand that they got scammed and feel it necessary to share the story on bitcointalk.

It was definitely necessary for him to make an simple investigation by using search button of this forum which could save him from this kinda unexpected losses. I don't think OP gonna get his fund anymore but hope thread visitors will be careful enough and will not repeat the same mistake.

Why did not you search in this forum or using Google? There are many negative signs^{[1] [2]} that indicate that they are scammers.
Sorry for your loss, but you know that you do not spend a lot of money in unknown sites or even invest in one dollar.

[1] Localcoin.is - Plagiarized Whitepaper
[2] Localcoin.is - Plagiarized Whitepaper @ ICOEthics

What happened::
Back in December I deposited some BTC into localcoin.is DEX to trade XMR. I went to withdraw 0.73BTC in December and the transaction never broadcast. After 2 weeks @localcoinA on telegram responded saying the Bitcoin node needed a resync after saying "still resyncing" for a further 2-3 weeks @localcoinA finally came clean. Apparently his exchange is insolvent and he doesn't have the BTC to send me anymore. Instead and without my permission he issued me with 13,000 LLC tokens and said if I help him they will be worth something. They are currently worthless.

After days of telegram chats he is refusing to return my funds. I am making this post in the hope that it saves someone from losing their funds too.

I know it was stupid of me to deposit into an unknown exchange but I got greedy because there were (probably fake) good trading opportunities.

The whitepaper list a bunch of people from a web dev company called nineseven (nineseven.by). The main person listed is Dmitry Khorushko. I spoke to him and he denies any involvement apart from being contracted to develop the localcoin.is exchange. He claims some anonymous person who goes by "Fluke Hawkins" is the person behind it and the person in control of the wallet/gateway. I am incredibly skeptical of this claim and I do believe there is a chance that Dmitry Khorushko is simply using this so called anonymous person as a front. This is despite his company github account making a commit on the localcoin.is github project as recently as 10 days ago.

I have attached some chat logs below, it's only partial because I have been mostly talking to myself for days. They are definitely worth a read, at one stage he whinges about "centralised" exchanges scamming people, the irony of someone saying that to a customer that they are currently in the process of scamming.

Scammers Profile Link: https://bitcointalksearch.org/user/localcoinis-2556732

Reference Link: localcoin.is DEX
Amount Scammed: 0.73BTC
Payment Method: BTC

PM/Chat Logs: https://imgur.com/a/ZfIWAcF