Topic: BitDeal Scam (Read 403 times)

I am starting to see a lot of scam report everyday in the ICO world and it's already making ICO investors scared of investing in ICO anymore since it's now very difficult to differentiate between the good ICO and the bad ones who are out there to scam people.

I think the best thing to do is to create an agency whose work is to verify admin of ICOs and their team before any investor will make investment in their platform, so that if they decide to scam users, they will be caught immediately.

Yes they are hard to find but often they just recycle the same scam using different coins.
 

That is why people need to let others know about suspect and scam projects and who is involved. On a good note, it looks like bitdeal, (BDC Erc20)  formerly known as BDL old abandoned coin, no longer is supported on Latoken...That is good news.


At least I could not find it listed there anymore. So maybe this thread helped

maybe my guess is right now more and more projects are scam but they can make it like the original that's what makes a lot of people confused because, they can't tell which one is genuine and which one needs to be a strict system now to be easily tracked by the culprit because, they are hard to find.

Thank you for the heads up guys

Sadly, I think there are many other coins where Dev's have walked and the blockchain is abandoned, yet still trading.


So for me, if you are unsure, check when the latest twitter post was or look at the feed....check latest on bitcointalk, also Github updates and if still unsure, if you can't somehow get a response from Dev team on social media or email in a reasonable amount of time then be very cautious.


With BitDeal yes there were many red flags but this is a bit different from an abandoned coin.


They just let it die and after using every possible media channel to get any kind of a response (it took a while), they responded with a claim that they swapped to ERC20 like 6 months ago but when I asked for information or where it was announced...SILENCE.


Anyhow they are now just using the same scam with an ERC20 token, same website and material and worse LATOKEN supports them...


Newer Exchanges often don't care because the more listed tokens or coins, more users and volume, and I m sure they don't really dive into each and every coin as long as they seem somewhat legit- which most scams do.

I'm a regular user of CE and thanks I've read this thread. The trading of this coin is still very much active in that exchange. I hope more people will read this so they won't buy this scam coin. They will be left bag holders very soon.

I tried to rate this coin on https://www.isthiscoinascam.com/check/bitdeal#review

I wanted to rate the coin as a scam with the message:

"Yes BitDeal is a super big scam. Read this thread https://bitcointalksearch.org/topic/bitdeal-scam-5092844 They abandoned BDL coin and without swapping coin, just made a new ERC20 token and now trade on LATOKEN. Their old dead coin was kicked off Cryptopia and Coinexchangeio still trades it but it's dead. No blockchain, no deposits or withdraws because it is DEAD. They are scammers. "



But I would have to do so over twitter and give the app permission to:
Read Tweets from me
See who you follow, and follow new people (??seriously).
UPDATE MY PROFILE (again, really??)
POST TWEETS FOR ME ( as if?? A bit excessive isn't it just to post a review??)

With those strange permissions for me to rate the project- forget it. But if some one is familiar with the isthiscoinascam website and has used it before, maybe you can post the above message and help others from getting scammed by criminal projects. It is simply bad all round for crypto that this can happen.

Just a heads up, this coin is still traded https://www.coinexchange.io/market/BDL/BTC on coin exchange io for some reason.

But notice if you click deposit you get the notice "Warning: This currency is currently in maintenance mode. It is advised not to send deposits until the wallet is active."


Because the coin is DEAD. So yes, exchange make scam coins possible too. CoinExchange needs to delist the coin like cryptopia did after months of trading a dead coin. But of course, BDL now also trades on LATOKEN as a ERC20...the next scam.
 

I guess it is easy to scam in crypto. Because I guarantee they will dump their ERC20 BitDeal token and whatever price since it is all free ETH to them for doing nothing but leaving a website up and tweeting a few times.

I guess there is no way to stop that and sadly this scam will make these people money.


So I understand your point. You need to research every coin before buying and even then, maybe unsuspecting buyers on CoinExcange io think the coin is cheap or risk buying it without knowing it is DEAD.

God, how many scam projects on the market today. How can an ordinary user who has not heard anything today about all this use the cryptocurrency ICO projects correctly? I think that there is a very big chance to lose money.

I agree, that is my point in writing this post so those who google or try to research this scam project quickly get the information they need to make a decision.

They are now running the same scam only this time using an ERC20 token and the exact same website and marketing material.

Nothing has changed except the let the old BitDeal coin (blockchain die), lied about any kind of swap, the coin was dead and trading on Cryptopia for months and months.... now they are listed on LATOKEN so be careful. I imagine they have only plans to sell their ERC20 token and rip off the next wave of buyers.

STAY AWAY from these BitDeal scammers.

I hate to say but this project has the potential to be a turned scam project. So sad to hear for those investors that have been victim on this project investment scam. I certainly hope that some would file a petition to file a case to the team if it still stands.

Thank you for the heads up buddy

Yes many coins do not make it or fail but with this coin, they simply steal money BitDeal (BDL) (by claiming a swap and letting it die and telling no one) and they now start all over again saying the real coin is BitDeal Coin (BDC).


It is ok if weak coins die, it is good actually since it makes the rest of crypto better but this projects just starts a new scam to steal the next investors money.


I hope I made this clear if anyone thinks about putting money into BitDeal, they can read this to get some information and make an informed decision.


I use Bitcointalk to research coins and I would like it if someone warned me about a project before... I can always decide to ignore that information and buy anyhow or stay away from the project.

Never heard of this coin before and since I got curious, I tried to research it now using the coinmarket and it seems like it has a good pump last 2017 and going down in 2018. I'm not surprise, there's a lot of scam coins right now because they fail last year, we have proven again that only strong coins will survive in bear, weak coins will die because devs will leave them and take the investor's money.

Just a final update since it appears the BitDeal scam will simply continue with a new token BDC (no longer BDL) on a new exchange LATOKEN. It is new so I think they will list any project without too many questions.


Anyhow, finally an answer from BitDeal support saying they did a coin swap 5 months ago of course on the official "twitter.com/bitdealuk" site they simply forgot to mention that and rather pumped up BDL coin in May a few months before letting it die I guess. Also there is no announcement by Cryptopia about a swap.


"Dear,

We had launched the BDL to BDC converting program with ratio ( 1 - 1.2 ) 5 months ago.
This program is applied for the Bitdeal investors who have invested in ICO bitdeal.
BDL is no longer considering as the Bitdeal coin in the Bitdeal Application anymore.
More information, please visit:......"


It must have been a secret BitDeal BDL to BDC swap that only a few people knew about. I like those ones (sarcasm). I asked them to provide a link about the swap announcement but of course that was left out.  


So 5 months ago was a swap with no information?....Cryptopia delisted the coin Nov 27, 2018 so BitDeal thought it was ok to let a dead coin trade on the exchange for 3 months without telling anyone?


Anyhow, this is not the first or last scam that will happen in crypto. Sadly I think the same suspect players in crypto just rinse and repeat these kind of shaddy projects using different coins and jumping to different project...


but if this thread helps someone avoid BitDeal BDC coin, or at least warns them of what they did to previous BDL holders than that is a good thing.


It should also be a lesson to really look into the development teams and also support they provide before investing in any project and if you see references to previous dead or projects that ended badly then maybe be extra extra cautious. And never risk too much in any crypto project no matter what you read on twitter, youtube or some other channel.


I am on a bit of a crusade with this coin, not because of money lost or bad investment but because I see them starting scam round #2 and there is no information anywhere to warn people.  


On a positive note, lets hope crypto 2019 is better than crypto 2018 :-)  




 

Once Cryptopia decides to delist a coin....any coin, trading stops immediately. So there is no warning, just.....BOOM- coin is done here, remove it. There is no chance to try and sell. In Cryptopia's defense they give lots of time, like 6-7 weeks to move coin off the exchange.  But strangely on many exchanges (I have seen this often), volume picks up and price rises, giving those who know delisting is coming the chance to dump coins, and then it gets delisted. Live and learn. And important rule- be very careful with coins that are only listed on 1 exchange! BitDeal is also on coinexchange. io but they don't allow deposits.

Well many coins was already delisted on that exchange so its too risky to invest on some coins because most of them choose the smaller excahnge and leave the market later on. If there’s no intruction from the team on what to do then i think it can be another scam and better to sold it now if its still possible.

Finally got an answer from BitDeal about Cryptopia delisting. I guess 1 day before the delisting with no announcement to date, just need to contact another department. Bye Bye coins

Shouldn't bother me but man, the scams and bad karma in this space is painful sometimes.

Anyhow, the email:

Dear xxxxxx ,
You send it to Support please via : [email protected]
Thanks you and Best regards !

CHUYÊN VIÊN CHĂM SÓC KHÁCH HÀNG
Công ty Cổ phần Bitdeal Việt Nam

 
Đc: 22-24 Phan Thúc Duyện, P.4, Q.Tân Bình, HCM

Email: [email protected]

Hotline: 0707 133 188

I will get right on that....sent the email the other day and of course no answer. Expect an answer once coins are trashed and unrecoverable.

That is my whole point in writing this and explaining the BitDeal scam. Only now, after searching all over for an active wallet where those with BitDeal BDL on Cryptopia can actually move their coins to, have I discovered just how shaddy this coin is and expect BitDeal (BDC as it is now called) to be the same scam.

So I hope they never land on another exchange but if they do, maybe someone can read this thread before buying the coin or this might give others an idea what to look for before they fall for a very suspect project.

Below is an example of some minimal fundamental research you SHOULD do on any coin project BEFORE  buying into it.


Start with Coinmarketcap. Coinmarketcap offers their website, coin details, and other relevant links…

-with BitDeal the website looks nice and professional, unfortunately nothing works, you can't register, the wallet will download but not let you create an account, plus you can't really tell who the developers are or track them down in any way. Maybe at one point the wallet worked but not sure- maybe never. I guess it is important to double check any project you are interested in.

Anyhow, when you can’t find out who the developers are or who is running the project, that should be a real big red flag.  (RED FLAG 1).


-Twitter account- only a few posts here and a few months before the delisting was a big promises of the project taking off in Vietnam or wherever, plus 4 fake looking pictures of a few people in Vietnam holding some kind of press conference. At first sight, seems professional but then you wonder why there are no crowds and pictures look pretty staged. They have all the proper social media sites like FACEBOOK; TELEGRAM (view only) and on and on but offer no real value and can't be reached and post very rarely (RED FLAG 2)

-The ANN is on cryptocurrencytalk and has like 20 posts and the ANN creator (dev) posted 9 things and spent a total of 50 seconds on that forum...but exchanges require an ANN to list so why not choose one with very little scrutiny. (RED FLAG 3)

-After trying to find more info I found https://www.bitdeal.net/ which basically promises to clone a coin and allow you to clone the whole crypto process, I don’t think they are related but it goes to show that with a bit of effort someone might be able to put a coin out there just to take advantage of others and profit from it.

There are obviously other fundamental screeners you can use to help you decide if you want to be involved in a crypto project

* Coin Supply: How many out?

* POW or POS / Pre-Mined 

* Coin’s  reputation  and who is following it

* Is it traded on more than one exchange?

* If not, does it have an active and easy to use wallet?

* Are Dev’s active on Github
* Ask yourself if it is a possible scam/ S***coin or possible Gem?

* Who is behind the project & support

* What do CoinMarketCap links say: Bitcointalk Ann comments, working webpage, active community?

* Roadmap & Whitepaper

* What does the coin do or what problem does it try to solve? Does it make sense?


Anyhow, coins being delisted and abandoned are part of crypto so never risk too much on one idea. Normally I would't care about it but in this case it seems like they are working on a new scam with BitDeal (BDC) so hopefully this helps them not succeed.  

Thanks for sharing your story, hope it helps someone else to recognize scam attempts like this in the future. It may not bring your coins/money back but if it prevents someone else from falling for BitDeal it was definitly worth it.