Topic: Adab Solution Bounty Scam - page 2. (Read 708 times)

That is sad and bad news but hardly surprising since the "team" behind this so-called religious project are anything but religious. These scammers do not even practice the religion they claim to be representing so what chances do the bounty participants have of getting anything from them?

These scammers from Adab Solutions claim to be religious and to follow a strict code of conduct based around religion, morals and ethics but are they made it clear there are happy to accept funding from criminals, pimps, prostitutes, drug dealers and a whole host of other people that make money from either illegal or immoral sources.

I have some very bad news to all bounty hunters, one of the admin have announced that they are going to lock or have locked bounty token, so bounty hunters, will not dump the coin, this is a very old alibi, after waiting a year and not giving all of the token allocations now they are locking tokens for bounty hunters.

I hope so too. I want to list the victims in the OP so that it becomes clearer about the scale of the scam.

I have no doubt that if this project does not go live, the investors will never get their funds back.

Likewise, I have no doubt that if the website goes live then it is a scam designed to fool investors to send their crypto and then the scammers will make their exit strategy after a few months.

The Kazakh/Uzbek scammers behind this project will be living off the funds raised in the ICO and IEO and those stolen from affiliates - for years to come.

Either way, the list will increase as more and more victims come forward.

I hope those who got scammed in their bounty campaign, as well as investors, will post here on how many tokens they have lost from the official stakes if they can do this to their bounty hunters who helped the project, what more to their investors

The Adab Solution scammers are not even posting in this forum any more because they got what they wanted, some cash from the ICO and multiple IEOs

They showed no respect to the genuine bounty participants that promoted the scam thinking it was good project and instead they added so many of their own newbie and fake accounts so they could say to the genuine participants that there were too many fakes so not all would be paid. The irony and hypocrisy of the scam is shameful especially when adding the fact that misused religion to miss-sell their project.

Adab was the last ICO campaign I'm in after the news and the evidence that they are scamming the community I immediately take out the signature, now that they are distributing the bounty I am really pissed off and disappointed I think all bounty hunters are, they've cut all the bounty rewards to as much 80% I'm really going to dump this coin now.

They have no real product, no real customers and no real interest either but their claims of $6.75 cannot independently be verified

All that is clear is that they are scammers

They are now in the process of distributing their bounty, but right now we have read a lot of complaint from their telegram channel that bounty participants are not getting the full stakes that are on the spreadsheet some complaints that they are getting half only on the spreadsheet.

Let me remind that by conducting another investigation, I found people who were engaged in this scam:

Well right now things are very unclear as to what the Adab Solutions scammers are doing and what they are planning.

The want users to send crypto to them and allow them to "invest" those funds on their behalf. If there is a loss the whole is carried by the investors and if there is a profit the Adab Solution scammers want a hefty percentage of that profit.

There is a catch though. For example, if a new token or coin for argument sake called New 123 is created and ALL of the investment funds Adab Solutions hold on behalf of customers are used to buy this New 123 at IEO or pre-ICO stages only for the New 123 project to collapse days or weeks later - such a scenario would put ALL of the Adab Solutions users out of pocket but maybe Adab Solutions will be the only beneficiaries IF they are the scammers behind the New 123 project.

There are too many issues related to the Adab Solutions scammers. ANother one is for example the fact they three Uzbekistan/Khazakistan people behind the project have questionable pasts and virtually zero knowledge in this field.

Their demo or MVP "exchange" is nothing more than a template to show gullible investors a "product" in order to fool them in to parting with their crypto. They used religion as a tool to suck in people but they are anything but religious judging by their conducts in the threads they post in and the manner in which they fool people.

Not sure how long they will take before they take the money and run but it is inevitable

They're outright shady since the beginning. And I'm not surprised if they run away soon.

I doubt they managed to raise $6 million, lots of crappy ICOs has been saying things like that recently to fool people and hope they could get another 1 or 2 ETH while in fact they never raised 100 ETH.

This is their announcement to their bounty channel

But until now no one among bounty hunters received their stakes, they keep promising their bounty hunters that they are going to send their tokens, what's adding insult to injury is their bounty manager kept insulting the bounty participants, this idiot deserves a smack in the face, he is not even human.

Done

I hope it makes things a little clear for those unfamiliar with the subject

Good thing IDAX has been exposed and to be honest these exchanges might not be the one that operates the project but on the other side, they might on the part to be blamed as well for promoting them and turns scam at the end. Really everything evolves about money on these exchanges as long as they profit nothing else.

These investors seem not to do any digging first on the project, AFAIK this ADAB project has some scam accusations in the past and still, the bounty participants didn't learn even just to open this board if there are red flag on the project or not before promoting it.

IEOs. Idax (which has been now exposed as a scam on medium), Bitz/Bitm have a lot of asian investors who will dump money into any new IEO without thinking about it, because it always gets pumped, either by the team or community when the IEO ends. Look at all the previous IEO's on those exchanges, and you'll see they all raise stupid amounts of money for a very average project.

Either that, or they lied about how much they raised. Second option looking pretty possible as well, look at their social media activity. 2,000 followers (probably 1500-1700 are bounty people), so I'd reckon they'd be below 1,000 real followers, and barely any comments/likes. I doubt a company could raise 7 mil, get in the news, and still get such low numbers...

Going to Miami next year, maybe I'll see the team there sipping cocktails 

I can't believe such a terribly disorganized shady company managed to raise 6 million? Like what the fuck is wrong with people? I'm more surprised by the fact that investors found them as interesting as the bounty participants.

Regardless, the job is done, money is raised, threads will be locked, servers will go down and they're history!

Can you edit the OP and add all links, like ANN thread, Bounty, profile link and all other scam accusations against this project?
I find you already write here about possible fraud from Adab, I would like to check all.

Here was the original ANN thread which was started by a (now banned) Russian/Ukrainian sock-puppet account: https://bitcointalksearch.org/topic/ann-adab-first-islamic-crypto-exchange-based-on-the-shariah-norms-4720775

Here is the new ANN thread which was started (with a new user name) with self-moderation to delete any critical posts: https://bitcointalksearch.org/topic/annnew-adab-first-islamic-crypto-exchange-based-on-the-shariah-norms-5105530

Here is the self-moderated "bounty thread": https://bitcointalksearch.org/topic/bounty-is-over-adab-first-islamic-crypto-exchange-624-000-rewards-new-5105520

Here is the thread listing Russian/Ukrainian sock-puppets used to generate fake buzz in their original ANN thread: https://bitcointalksearch.org/topic/russian-scammers-whitetoo-520bit-royalteam-vitaliiinvest-mari-royalteam-5077842

Here is the Adab Solutions profile: https://bitcointalksearch.org/user/adabsolutions-2501348


These scammers ban people on their TG channel as soon as they feel the user might expose the scammers. They delete posts from their censored threads here whenever they log in.

A comprehensive list of victims should be catalogued. If you have been scammed by these pathetic Adab Solution scammers post here please so I can compile a list.



Here is the list of victims that stated they participated in the Adab Solutions bounty but were scammed:

1) aioc
https://bitcointalksearch.org/topic/m.51980254
Expected:              76,000
Received:              20,000
Amount scammed:   46,000

2) indo1
https://bitcointalksearch.org/topic/m.51979809
Expected:   40,000
Received:   10,400 (originally received 66 but got more after complaining)
Amount scammed:   29,600



A bit of background about Adab Solutions:

Adab Solutions exchange scammers stated they raised $6.75 million and ended their 9 month bounty campaign on 31st March 2019 buthave not paid anything to any bounty participant.

These Adab Soultions exchange scammers say their business is religious but they say they will accept funding from pimps, prostitutes, drug dealers and from all sorts of criminals with earnings from all sorts of illegal and immoral sources.

The Adab Solutions exchange scammers cashed in on the new IEO craze so they decided to end their SCAM 12 month ICO early (they stopped after 9 months) and then decided to SCAM others from Bitforex, IDAX and Bit-Z/Bit-M




1) Here is how they managed to squirm out of paying bounties to those that participated. The only participants who received bounty were Adab Solutions sock-puppet accounts.








2) So at the beginning of the 9 month bounty campaign all the way back in mid 2018 they never announced extending the bounty campaign (which they extended twice dragging it on for 9 months) and when they got to early June 2019 they announced they wanted KYC. They abruptly stopped the bounty campaign after 9 months because they decided to jump on the IEO bandwagon and got in with a few exchanges to sell more tokens and raise even more money.




3) They flooded their original ANN thread with sock-puppet accounts to generate fake buzz and spread propaganda because they needed it otherwise they would not be able to fool investors:
https://bitcointalksearch.org/topic/russian-scammers-whitetoo-520bit-royalteam-vitaliiinvest-mari-royalteam-5077842


4) They claim to be religious but are happy to accept funding from the following so how can they comply with any religious law Shariah?

pimps, prostitutes, porn actors, those currently behind bars in prison serving prison sentences, those that sell drugs/narcotics, those that manufacture test and sell weapons, those that own publications online/print media cursing religion, those that own transport or sells alcohol, those that own breweries and manufacture alcohol are all welcome to invest in Adab Solutions because they do not and will not check sources of income or have questionnaires asking for information - they just want the money


5) After I exposed their scam they accused me of being a disgruntled former employee just to deflect attention away from their scam but eventually they were forced to apologise:
https://bitcointalksearch.org/topic/m.47282863



Shame on these pathetic scammers who used religion to fool and entice gullible bounty participants and token purchasing investors.