"Droxne" "DRXNE" "Droxne Coin" Scam or Not

Preface

   Compared to the accounts that that have been on Bitcointalk forum since 09-16, I am a technically a newbie on BitcoinTalk forum.
I joined the forum on March and within two months of joining the forum i was scammed for 0.76 BTC from a Scam group selling a coin called Padideo
A month later, a coin that i spent 0.75 BTC to purchase OTC Droxne was intentionally crashed by the coin's Dev within 2 weeks of the coin hitting the exchange.


   For approx a week post this scams, i was extremely depressed, and had a hard time sleeping. However, i was able to find my voice and gain my confidence back by dedicating my time to exposing the several threads created by the scam group responsible for Padideo coin. I also made sure to stay active on the Droxne thread and inform potential investors on the history of the coin.


   After several months of continuously hounding and exposing the several threads created by the group responsible for Padideo coin, the group grew restless and decided to create a scam accusation page on me and several other profiles that was also exposing their threads. They choose to modify a pm that i sent to one of their members when he gave me a negative trust and made it seem as if i was extorting his thread thru pm.


   I asked the forum admin/moderators for help, and even provided multiple proofs to show that this claims were untrue. They all declined and stated that there was nothing they could do about it.


   Anyway, i dealt with it by creating a thread that detailed the groups numerous activities, and i made sure to provide enough proof to show that this was a malicious attempt to discredit my voice on the the platform. That thread can be viewed Here


   Due to the buzz generated by the aforementioned group, the developmental team behind Droxne who were also tired of me constantly exposing/questioning their various ploy to lure in investors into the project, decided to capitalize on the prior claim made by the Padideo scammers. So, they also decided to claim that i tried to extort them. Keep in mind i have been dealing with this group since August, they provided no proof of extortion claim, didn't even bother to manipulate a pm like the other group and they immediately locked the Droxne thread.


   So, you have a coin trading on Cryptopia with little to no social presence, so most of the info pertaining to the coin is acquired from the BTCT thread and it's thread is locked.

Rather than denote their action as a scam, i have decided to provide the readers with tangible info and let them deduce if it's a scam or not. In a situation, where some decides that it's a scam, i would please hope that they act according to help raise awareness.

Introduction

   Droxne was first announced on July 23 2017 by the coin's Developer Convery. The initial distribution of the coin was through airdrops.
100 recipients received 1000 coins.


   The other method of distribution prior to an exchange was thru OTC. Convery sold the coin for a minimum of 1000 sat to those investors who bought up to 5 btc worth and 2k - 3k sats to individuals who couldn't afford to buy 5 BTC worth.

   Those investors who bought at 1000 sat, then turned around and sold it for 2k - 3k to other individuals who couldn't afford to spend up to 5 BTC. I personally purchased 0.76 BTC worth at 3k sat.

The coin was listed on Cryptopia on August 4th 2017. It initially traded at 3800sat but dipped to a low 1080sat, as OTC investors sold their stakes. I invested an extra 0.2 BTC when the coin finally stabilized at 1050sat

Content

   On August 16th 2017, less than two weeks after the coin was listed on an exchange. I noticed that someone sold 725.000 coins for 0.7 BTC at a price of 107sats. The coin had be stable and was trading well above 1000sats prior to this dump.

I checked the reservoir wallet and saw that 900,000 coins was taken out few hrs before this dump occurred. The dump couldn't have been due to airdrop recipient cos only 1000 coins was airdropped to 100 people and it couldn't have been the OTC investors cos they paid a minimum of 1000sat for the coin and it hasn't even been on an exchange for 2 weeks.

   I made a comment about it on the BTCT thread and on slack. Several members of the forum requested that Convery explain the situation. Convery who is usually active on the forum, disappeared for several days and upon reappearing, deleted every negative/incriminating post related to the dump and banned anyone who was commenting about it on slack. The core members of the group kept commenting about it on BTCT thread and every few days, he will log on and delete all the comments. Finally, he stopped logging on to BTCT forum and for approximately one month, he was absent from BTCT thread. However, he stayed active on Slack and kept commenting about working on a game to compliment the coin.


   While Convery's was absent on BTCT thread, several random accts that weren't necessarily active earlier, became increasingly active and vehemently defended any comment made against Convery and the dump. Whenever an individual made a comment about the dump or the scam potential of this coin, this accounts attacked the poster for making such comment. They tend to neglect all comment made about the coin trading at 1000sats a month prior and currently trading at approximately 150-200 sats. They just kept touting Convery's impressive work and the fact he was working on a new game.

   The group is made up of ( wood299, Mrx.01 (who goes by Mr.x on the slack channel), Anhtatsu, and Coincollector006)


   By early Sept due to the accusation placed on Convery, and his decision not to address it, the buy orders for Droxne dried up. The coin however stabilized back to 800 sat.


   Then On September 11th 2017, someone intentional spiked the coin's price from 823 sat to 130050 sat. They intentionally bought about $100 worth of Droxne at 130050 sat, just to stimulate the buy order and soon as their was a few orders on the buy order, the price dropped back down to 387 sat.

   The following days the buy order was mostly dry with a huge sell order due to yesterdays action. Then on the evening of September 12th, few accts placed huge buy orders with offers ranging from 10-3 sats.

   On September 13th 2017, i noticed that the entire amount on the reservoir has been moved. Then Droxne which usually averaged 90k volume per day on cryptopia, had several millions of buy order placed. With the lowest at (approximately 28 million coins) sold for 3 sat. The entire amount in the reservoir was sold within a day. I suspected that Convery was moving the coin to different accts through Cryptopia. It was impossible to trace the coin movt if he utilized an exchange. However, if he moved it from one wallet to another, then it will be easily traced. I wasn't sure why he was doing that but i suspected he had a motive.

   On September 17th, this group of accounts that have been defending Convery during his absence, announced that they were forming a new team to take over Droxne. They claimed that Convery has left and owns no more coin, so they have chosen to form a new team to take over from Convery. I immediately suspected that this was a ploy by convery to deflect the accusations placed on him. By forming a new team, earlier investor wouldn't have no one to blame and new investors will willfully invest cos they will believe that they have no more reason to be worried. I logged into the slack channel under an alternate account and verified that Convery just logged on less than 24hrs ago.

   I made a comment asking why they choose to jump-start a coin from a known scammer when there were several legit coin that could use their collective help and the answer was they wanted Droxne to grow and when the Dev returned, he can assume a position with the team as a CEO

   When i and several other members made a comment that Convery was really active on slack and kept questioning the reasoning for their attempt to claim/jumpstart a project from a known scammer who still owns a large portion of the coin. Convery logged on to BTCT thread for the first time in several weeks and deleted all the comments.


   Forum members made comments about Convery logging on and deleting all the comments, the new team members as they like to call themselves, made an announcement that not only did Convery leave and has no more coin but he also signed over his account info to them. Keep in mind, no proof was provided for this info, we were just suppose to believe it of face value. Again, i logged on to slack and noticed that Convery was still active on slack. So, i brought up my comment about their true intention behind this proposed jumpstart on slack, and i was effectively banned from slack again.


   When a forum member asked the reason for the dump, one of the new team members replied that we should not expect the dev to work for free, that he probably dumped the coin to cover the cost of listing the coin on an exchange and to compensate for the time he invested in creating the coin. When i posted an OTC thread pic showing that Convery made close to 25 BTC of this coin thru OTC, then turned around and dumped it from 1080 sat to 108 sat, so he could net 0.7 BTC. My comment was deleted and prior question was also deleted.


   When it became obvious that i wasn't going to quit like the other accounts that they have manged to silence, they made a comment on the thread that i was a fudder who had probably sold his coin for a lose, had never contributed anything to the coin and was basically trying to hinder the growth of the coin. When i posted a picture of my wallet to show that i have yet to sell my coin, and also stated that i was the first to send the coin's info to CMC and the main promoter of the coin on Cryptopia troll box when it initially got listed, those info and other incriminating post from other members related to the coin were also deleted.


   Since i can't post comments from other members that were deleted, i will post some of mine, at least the few that i saved at the end of the thread for those that care to peruse thru it, it should show that the thread was wiped prior to them locking the thread.


   As aforementioned, the team had claimed that Convery already left and owned no more coin. However, CoinCollector006 (a member of the supposedly new team) accidentally forgot their prior quip and requested that Convery donated some coin to their development fund, when i asked questions in regard to that, it was immediately deleted.

   I kept pressing them for information, and insisted that they divulge why they choose to promote a coin by a known scammer and how they intend to protect the new investors they were courting from Convery, those question were either ignored or deleted when repeated. The only reply i received was from Tross (a recent member of the team) and he basically told me to quit complaining and join their quest, so i can get my investment back.


   When i refused to back down, rather than provide a concise and truthfully answer about their main intention, they started posting links to the claims made by the Padideo scammers to deflect from the topic at hand. i replied with a link showing that this were the work of malicious scammers trying to discredit my voice on the thread and provide proof to back my statement. I once again insisted that they refocus back on the thread and answer the pertaining question on why they choose to promote a coin from a known scammer and how they intend to protect new investors from this scammer.


   It became obvious that i was never going to back down. A member of the forum that goes by Disallowedword suggested that they locked the thread. The suggestion was made on November 17, 2017, 08:37:32 AM[/color].

https://imgur.com/btl17kO

I replied back to his comment immediately. Which was deleted cos they usually deleted most of my comment.

Keep in mind that Disallowedword is one of the only two accounts that vehemently defended Convery when the dump/scam was exposed back in August

   On November 17, 2017, 03:24:55 PM, the account was locked with claims that i was trying to extort 0.95 BTC from Convery. Keep in mind i have been dealing with Convery since August, but all of a sudden i now decide to extort him. No proof was provided, they didn't even bother manipulating a PM like the Padideo scam group.

   While they were rushing to post up links that apparently exposed me as an extortionist, they even included a link to a thread that i created against the padideo scam group. Basically, showing that they didn't read thru any of the threads and was basically copying an attempt made by a scam group in an effort to deflect their current negative plight.

   They also choose to insult my nationality. Like exposing me for been Nigerian was something to be ashamed of. My guess is they were trying to capitalize on the racist notion held by some westerners that implied that all Nigerians were scammers. However, I personally translated a thread on this forum to Igbo (A Nigerian language) so i made it known to anyone who bothered to check that my heritage is Nigerian and am extremely proud of that regardless of any misconception a westerner might have about us.

   Also, if one choose to look, they can easily locate my email address on this thread and with the name attached to the email, they can see that i live in the States and work in Healthcare. So i have no need to scam anyone.

   However, it quite irritating to see this individuals try to manipulate forum members by portraying my homeland as been synonyms to deceitfulness.

The highlighted link was actually created by me in response to the malicious attempt by the padideo scam group

Conclusion

I do expect to receive some hate for this post and my continuous fight against Droxne. Several members on the thread are not happy with my constant quips, they rather i play docile, let the coin grow, so they can sell for a profit. None seem to care about the loss the future investors will accrue, when Convery dumps the price again.

Actually, soon as the fake accusation was made, i received a negative trust from a legendary member who is active on the thread, the negative trust was given even though there was no proof to support the claims been made. A lot of the active members have a had time understanding why am intent on exposing the ploy within when i have yet to sell my coin. I replied that it's easy to be greedy but really difficult to be unselfish.

Some of you might have noticed my peculiar name on Lust ICO thread (https://bitcointalk.org/index.php?topic=2068206.4780) I stayed up late into the night for several weeks to make sure that potential investors were made aware that the ICO was a scam. Lust had employed the use of several stolen accounts to aimlessly chat on their thread to increase forum count and bury incriminating post related to their ICO. I made sure my post stayed on the current page. They offered me bribes to stop but i kept up with my effort till the thread was locked[/b]

Some of you might also recognize my name from the first Nebule scam attempt. They were attempting to con individuals to send btc to a multi-signature address in other to claim their coin. I deduced that their plan was to essentially force a recipient to pay a ransom (post sending) in other to release the BTC. So, i literally stayed up all night and kept reposting my comment on their thread cos they kept deleting it. Finally the thread was deleted by the forum admin after it generated enough buzz. Info about the scam can still be found on twitter.

The same individuals tried the same scam few months later as stripple, however, the admin making the post didn't bother to change his name from Nebule. Again i exposed their ploy and out of frustration this group made the first extortion accusation. The same group is also responsible for Padideo, Sonic Ether, Deboot, Supertonin Network, Evolution lab, Securivitas, Regrar, Bitcoinash and several other countless scam coins. Like i mentioned before you can view my thread about this group Here

Notice the name of the admin on this thread By the way joosef is another account that was critical of them on several of their earlier thread

Anyway, am stating this to show that i have been dedicated to fighting scammers on this forum. I guess you could say i was jaded by my earlier loss and focused all of my frustration on stopping any potential scammer from been successful. I always wished someone did the same for me when i first joined the forum. A look through my trust will show that i had nothing but positive trust on this thread before the Padideo scam group intentionally released the malicious extortion claim. Members of the group, also made sure to give me several negative trust in one day and the only other negative trust on my acct that is not related to the Padideo group, is the one i received from the disgruntled legendary member from the Droxne thread who is not happy with my constant incriminating quips about Droxne.

   I really hope the forum admin finally start looking into this accusations and taking necessarily steps to reduce the effect of scam on this forum. It's quite infuriating that those of us that turn vigilantes end up been dragged through the mud and we can't even get help from those that are suppose to moderate the forum.

   Anyway, like i said i will leave it up to you to decide if "Droxne" is a scam or not, and depending on your decision, i hope you act according.

   By the way, as i was creating this thread they decided to unlock the thread. I made a comment on the thread, and my post was immediately deleted and the thread was locked by up again.

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Topic: "Droxne" "DRXNE" "Droxne Coin" Scam or Not (Read 503 times)