[Beware] FairWin, is allegedly putting user funds at risk

Kyraishi

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Quote from: Saint-loup on September 29, 2019, 04:15:24 AM

Quote from: Pmalek on September 29, 2019, 02:35:30 AM

Maybe this thread should be in the Gambling section among the gamblers who might have used their services. It would get more views by those who need to know about this issue.
https://bitcointalk.org/index.php?board=56.0

If you want to move it yourself you can do so by clicking on Move Topic at the bottom of the page.

It's more a topic for the scam accusation section, no? It's the section reserved for the scam accusations normally.
Bitcoin Forum > Economy > Trading Discussion > Scam Accusations
https://bitcointalk.org/index.php?board=83.0

It's a scam accusation, he's alleging that the company is scamming/putting user's funds at risk and therefore it institutes a scam.

It's a pretty obvious ponzi - I'm not even sure how they got such a huge following in the first place, there's no substance to it and it basically an ETH-based version of Bitconnect. Read the below article for a better story, it helped me understand it a lot.

https://cointelegraph.com/news/report-ethereums-gas-guzzling-suspected-ponzi-fairwin-funds-at-risk

I haven't really thought of this possible type of scam, where they would congest the system, via spamming the network - not fully sure what this accomplishes, to be honest..?

Pmalek

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Quote from: Saint-loup on September 29, 2019, 04:15:24 AM

It's more a topic for the scam accusation section, no?

Sure, if he has enough proof he can open a scam accusation as well. I haven't done any research on the evidence that he has gathered so I can't comment on that but seeing that the thread is now in the Scam Accusations section either the Mods or OP agree with you.

Twinkledoe

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Quote from: Tipstar on September 29, 2019, 06:46:09 AM

Quote from: maxreish on September 29, 2019, 12:01:41 AM

Hello fella's, what can you say about this ?

Fairwin is the first gambling platform that uses Ethereum blockchain.

Now, it was suspected that Fairwin putting the user's fund at risk by guzzling a major amount of gas in the network. We all know that ethereum's network is congested, and we wanted it to be fast transactions by increasing the network's block size.

According to Mr. Philippe Castonguay known as a blockchain developer:

Quote

The http://FairWin.me Ponzi Scheme contains critical vulnerabilities that put all funds at risk. Spread knowledge (especially in Asia) Users need to withdraw their funds and stop interacting with the contract ASAP.”

There is also an allegations about their investment program wherein you deposit 1-15 ETH and the percentage return will be 0.5-1%. Tempting, isn't?

Reference :link

0.5 to 1% in 5 days. i.e. 0.1% to 0.2% per day is unrealistic. No doubt this is another large ponzi in making.
Gambling is a tempting business still the profit lies within 1% of the total wager. They would not be able to provide that percentage of coins just for staking.
Old or new, it's the operators who make the platform a success or failure.

That is their main selling point to attract potential investors. Naive users are falling on this trap thinking that they will get huge profit from it. Only the owners will gain from this ponzi project. Good move from the OP of bringing this situation to users here. But I hope more crypto users will be aware of this scheme.

Saint-loup

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Quote from: coin-investor on September 29, 2019, 04:26:09 AM

Quote from: Pmalek on September 29, 2019, 02:35:30 AM

Maybe this thread should be in the Gambling section among the gamblers who might have used their services. It would get more views by those who need to know about this issue.
https://bitcointalk.org/index.php?board=56.0

If you want to move it yourself you can do so by clicking on Move Topic at the bottom of the page.

OP can also create a topic on scam section but he should not copy paste and just rephrase the words and add additional information, anything that is related to Ponzi scheme obviously this program is a Ponzi scheme using a smart contract, should have a topic created in the scam section.
Not only members who's going to read the thread but also those who will search the internet as well.

Yes, I still don't understand why he doesn't want to create a thread in the scam accusation, here, his topic will be push out of the first page in few hours if nobody bumps it.
@maxreish it's useless to post your thread here.

dkbit98

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Just listen to video they have posted on their website
and if after that you think this is Not a Ponzi, then you should think again how smart are you

Original video link with mr Marshall speaking:
http://23.252.164.217/video/fairwin.me.mp4

Enjoy...I prefer to use headphones for full experience...

Quote

source transcript from fairwin website

Hello，everyone.I am Marshall, one of the initiators of the FAIRWIN ecological game, and it is a great honor to meet with all the players. FAIRWIN is one of the favorite games.FAIRWIN Public Winning Intelligent Contract Game is the world's first public chain technology-based development, truly open source code DAPP intelligent contract dividend game, by the United States, China, Britain, Japan, South Korea and other regional chain technology application experts and top talent in the gambling game industry, through the public chain technology and open source intelligent contract of Taifang. The project is crowdsourcing, using block chain technology to revolutionize the bottom technology of traditional online gambling and games.

FAIRWIN Public Winning Intelligent Contract Dividend Game is a crowdsourcing game based on FAIRWIN Ecology. The mode changes the essence of the centralized crowdsourcing methods of ICO and IEO in the past, so that users can invest on the premise of getting a return in advance. Multidimensional aggregation of market circulation value, game operation income, platform revenue rebate and transaction circulation value maximizes users'income, drives community prosperity through the accumulation of fans, and the heavy community in turn provides a continuous new force for the ecology, thus forming a virtuous circle.

FAIRWIN public-win intelligent contract dividend-sharing game not only provides financial resources for ecological construction of FAIRWIN, but also provides a large number of fans for ecological construction of FAIRWIN in the later stage, so that investors can get profits on the premise of capital security, while fission a large number of fans, so that the team can get both ecological construction funds and ecological promoters, for the whole of the later stage. The construction of global ecology has laid a solid foundation.

After tracing, analyzing and evaluating the market, we find that the crowdsourcing activities of FAIRWIN public-win intelligent contract dividend-sharing game are very successful, which will directly drive us to continuously introduce better service and more mature technology to the market.

I believe that in the future, with the joint efforts and help of global players, FAIRWIN Ecology will achieve more brilliant achievements. Our ecology is under construction and improvement. Based on FAIRWIN intelligent contract dividend-sharing game, through the construction of decentralized block chain + gambling, block chain + game, investors can achieve barrier-free play and investment management, providing a standard interface for global online gambling and online games, at the same time, application penetration. In order to achieve the ultimate goal of FAIRWIN ecology, we should cooperate with financial, commercial and other institutions in various sub-markets of the financial and commercial ecosphere.

Thank you very much for all investors and players. Let's go hand in hand to create a better future for FAIRWIN.

AjithBtc

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Quote from: Haunebu on September 29, 2019, 06:26:45 AM

Never heard of this site before. Decided to do some research and observed that it is centered around the FWIN token which is a red flag to me since I don't usually trust sites which use their own tokens instead of depending on BTC etc.

Why bother investing in such shady sites when there are legit sites out there? The 0.5-1% return scheme is another red flag here. I agree with op in this case.

I've heard about website earlier, but haven't used it. It is one of the oldest gambling website in use. It is stated as critical vulnerability on the application, we don't know what really happened with the website.

As quoted when there is more and more legit gambling websites to invest why to get into the traps of such untrusted investments.

aioc

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I check the site and I was asked to interact via meta mask I'm very careful on allowing a contract with dubious reputation as reported here, there should also be a thread like this in the scam section, people in the scam section are investors and this is investor based program.

Wexnident

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Quote from: Ailmand on September 29, 2019, 05:00:55 AM

Quote from: Jating on September 29, 2019, 04:46:19 AM

If that is the link then obviously you can't trust that site because it's not even on SSL.

I think there's a lot of fake and phishing site which involves online gambling. So gamblers really need to be careful which site to use and play. Just stick to the old and reputable gambling sites around and not those fly-by-night site like this one.

There's also a lot of them in the Google Play Store and IOS app store so everyone should be very careful.

That is why it is risky trying new gambling site nowadays. So, users should be cautious. If you want to try a new site never ever use credentials that is similar to your other accounts to avoid getting phished. Also find a review first and check all the information you need to check the site illegibility.

I'd rather just go to those legit and reviewed sites out there. There are quite a bit of legit sites out there and they can easily be looked up and see if it was legitimate or not. Besides, we should have all known by now that the more something is tempting, the more it is likely to be a scam. Newbies should really try and research about how to prevent being scammed instead of researching how to profit quickly in gambling. Thanks for spreading the news and hopefully can be read by those who use the said site.

Tipstar

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Quote from: maxreish on September 29, 2019, 12:01:41 AM

Hello fella's, what can you say about this ?

Fairwin is the first gambling platform that uses Ethereum blockchain.

Now, it was suspected that Fairwin putting the user's fund at risk by guzzling a major amount of gas in the network. We all know that ethereum's network is congested, and we wanted it to be fast transactions by increasing the network's block size.

According to Mr. Philippe Castonguay known as a blockchain developer:

Quote

The http://FairWin.me Ponzi Scheme contains critical vulnerabilities that put all funds at risk. Spread knowledge (especially in Asia) Users need to withdraw their funds and stop interacting with the contract ASAP.”

There is also an allegations about their investment program wherein you deposit 1-15 ETH and the percentage return will be 0.5-1%. Tempting, isn't?

Reference :link

0.5 to 1% in 5 days. i.e. 0.1% to 0.2% per day is unrealistic. No doubt this is another large ponzi in making.
Gambling is a tempting business still the profit lies within 1% of the total wager. They would not be able to provide that percentage of coins just for staking.
Old or new, it's the operators who make the platform a success or failure.

Haunebu

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Never heard of this site before. Decided to do some research and observed that it is centered around the FWIN token which is a red flag to me since I don't usually trust sites which use their own tokens instead of depending on BTC etc.

Why bother investing in such shady sites when there are legit sites out there? The 0.5-1% return scheme is another red flag here. I agree with op in this case.

btc_angela

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A classic scheme, just trying to lure newbie gamblers but at the end of the day, we all know that those operators are laughing because people are still falling for this kind of trap.

And thanks for giving us a fair warning, everyone should used their common sense and should use only gambling platforms that stood around this community.

Baby Dragon

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Quote from: Ailmand on September 29, 2019, 05:00:55 AM

Quote from: Jating on September 29, 2019, 04:46:19 AM

If that is the link then obviously you can't trust that site because it's not even on SSL.

I think there's a lot of fake and phishing site which involves online gambling. So gamblers really need to be careful which site to use and play. Just stick to the old and reputable gambling sites around and not those fly-by-night site like this one.

There's also a lot of them in the Google Play Store and IOS app store so everyone should be very careful.

That is why it is risky trying new gambling site nowadays. So, users should be cautious. If you want to try a new site never ever use credentials that is similar to your other accounts to avoid getting phished. Also find a review first and check all the information you need to check the site illegibility.

Indeed, because we can't trust easily since most of them are scam sites. Its good if we look for some details first and the experience of other people because it can help us to decide the best choice for ourselves. We can only assure that its a safe site if there are some positive feedback about it, we need to be watchful because nowadays its difficult to find a trusted gambling site because of different issues about different gambling sites.

Ailmand

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Quote from: Jating on September 29, 2019, 04:46:19 AM

If that is the link then obviously you can't trust that site because it's not even on SSL.

I think there's a lot of fake and phishing site which involves online gambling. So gamblers really need to be careful which site to use and play. Just stick to the old and reputable gambling sites around and not those fly-by-night site like this one.

There's also a lot of them in the Google Play Store and IOS app store so everyone should be very careful.

That is why it is risky trying new gambling site nowadays. So, users should be cautious. If you want to try a new site never ever use credentials that is similar to your other accounts to avoid getting phished. Also find a review first and check all the information you need to check the site illegibility.

Jating

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Activity: 2842

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If that is the link then obviously you can't trust that site because it's not even on SSL.

I think there's a lot of fake and phishing site which involves online gambling. So gamblers really need to be careful which site to use and play. Just stick to the old and reputable gambling sites around and not those fly-by-night site like this one.

There's also a lot of them in the Google Play Store and IOS app store so everyone should be very careful.

Edit: Read here.

coin-investor

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Quote from: Pmalek on September 29, 2019, 02:35:30 AM

Maybe this thread should be in the Gambling section among the gamblers who might have used their services. It would get more views by those who need to know about this issue.
https://bitcointalk.org/index.php?board=56.0

If you want to move it yourself you can do so by clicking on Move Topic at the bottom of the page.

OP can also create a topic on scam section but he should not copy paste and just rephrase the words and add additional information, anything that is related to Ponzi scheme obviously this program is a Ponzi scheme using a smart contract, should have a topic created in the scam section.
Not only members who's going to read the thread but also those who will search the internet as well.

Saint-loup

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Quote from: Pmalek on September 29, 2019, 02:35:30 AM

Maybe this thread should be in the Gambling section among the gamblers who might have used their services. It would get more views by those who need to know about this issue.
https://bitcointalk.org/index.php?board=56.0

If you want to move it yourself you can do so by clicking on Move Topic at the bottom of the page.

It's more a topic for the scam accusation section, no? It's the section reserved for the scam accusations normally.
Bitcoin Forum > Economy > Trading Discussion > Scam Accusations
https://bitcointalk.org/index.php?board=83.0

Pmalek

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Maybe this thread should be in the Gambling section among the gamblers who might have used their services. It would get more views by those who need to know about this issue.
https://bitcointalk.org/index.php?board=56.0

If you want to move it yourself you can do so by clicking on Move Topic at the bottom of the page.

maxreish

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Activity: 1330

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Hello fella's, what can you say about this ?

Fairwin is the first gambling platform that uses Ethereum blockchain.

Now, it was suspected that Fairwin putting the user's fund at risk by guzzling a major amount of gas in the network. We all know that ethereum's network is congested, and we wanted it to be fast transactions by increasing the network's block size.

According to Mr. Philippe Castonguay known as a blockchain developer:

Quote

The http://FairWin.me Ponzi Scheme contains critical vulnerabilities that put all funds at risk. Spread knowledge (especially in Asia) Users need to withdraw their funds and stop interacting with the contract ASAP.”

There is also an allegations about their investment program wherein you deposit 1-15 ETH and the percentage return will be 0.5-1%. Tempting, isn't?

Reference :link

Topic: [Beware] FairWin, is allegedly putting user funds at risk (Read 261 times)