Topic: ETHLend - Decentralized Lending - The Big Bounty Program - page 5. (Read 48063 times)

Not looking good guys......


https://www.reddit.com/r/CryptoCurrency/comments/83n30x/how_ethlend_was_built_from_scamming_its_workers/


EDIT 1: r/ETHLend removed this post, further proving their censorship. Here is proof. I just got banned from r/ETHLend, see this.

 

EDIT 2: Somebody posted this in the Telegram Group, this person got banned. He sent me a screenshot of his conversation with the Founder of ETHLend. The founder casually mentions he will attempt to remove this post too.

 

EDIT 3: If you want to help us, please mention this post in their Telegram. Please note there is a chance you will get banned, like other people have. If ETHLend decides to pay, we will rectify their reputation, as it is not our goal to denigrate them, rather to receive the payments they promised to give us.

 

The aim of this post is to show the public – with proof – that ETHLend has scammed people that worked for it during its early stages. I was one of these people. I will attempt to present the proof and formulate the events as objectively as possible. I hope this post will let the voices be heard of many others that have experienced the same with me. Some of the evidence provided has also been sent to me by other users. I have blurred their names in the screenshots below for privacy concerns.

 

To illustrate the gravity of the situation: ETHLend owes me 45.000 ETHLend Tokens, which currently has a worth of USD 2.800 - and, at its peak, has been worth approximately USD 18.500. The amount I should be receiving is actually on the small side, compared to what others should receive.

 

Let’s start from the beginning.

 

ETHLend made its first public appearance on Slack, May 23rd 2017. On its Slack channel, ETHLend uploaded a large spreadsheet that contained all the necessary tasks needed to be done for ETHLend, a lot of translation and proofreading tasks, but also the recruitment of core management members.

 

For each task, the amount of work and the amount of reward tokens were stated (see this photo for an example or see this link for whole spreadsheet). After distributing this spreadsheet many people applied to provide the work for ETHLend, and, of course, expecting to be rewarded in accordance to the amount stated in the spreadsheet.

 

On June 9th 2017 ETHLend assigned people to specific tasks through a new spreadsheet: https://we.tl/3KckZApEAb (some extra versions such as version 4 and 5 can be found on the following link: https://we.tl/we2mfjgGIQ.

 

After all the work was done people were of course expecting to be rewarded. Initially they promised to pay August-September 2017. Here is one person asking for his payment, I found after scrolling through the Slack channel.

 

Then it became December 2017. This screenshot you’re seeing has been deleted from the Slack channel, along with all posts posted after October 2nd 2017, presumably an attempt to hide the evidence. Fortunately, I still made some screenshots before they could hide everything.

 

All the information regarding the translation bounty most likely has been deleted because of a conversation that took place recently on Slack when one user asked to another user (username: dsastok) if this person has received the payments for the translation work. A quick search showed that this person works at ETHLend as a developer and has alarmed the team about the conversation. This also resulted in a deactivation of the account of the user who asked the question, this showing up a few days later.

 

When the reward still wasn’t rewarded at the end of December 2017, I contacted a team member of ETHLend. The following is an example of a conversation with the team member of ETHLend, Ville, who handles all the bounties.

 

NOTE: at this time (January 2018), ETHLend is approaching its all time high.

 

At this stage, at the end of February 2018, I and others start to ask in the main ETHLend Telegram channel, in order to catch the team’s attention. Right after posting this, our accounts got blocked from the Telegram channel.

 

After this dreadful and long procedure, ETHLend has finally sent me a reward, be it just a measly 15% (!) of the agreed amount. Others who, understandably, did not take the effort to persistently contact ETHLend about this, have yet to receive their payments. The only reason I can think of why they decided to pay me, is to ‘shut me off’. I have mentioned this deficit in payment to the responsible employee of ETHLend and asked numerous times politely how he would deal with this. I have never received a response from him again. This is the last message I have sent him.

 

Conclusion 

To conclude, ETHLend has - and is still continuing to do so - scammed people that worked for it. It has deliberately avoided to pay people (especially during the peak of its price), and only paid a select few not even an 8th of what they should be receiving. Furthermore, as demonstrated by the evidence above, ETHLend is censoring people who come out for it and ETHLend has been (edit: is) removing evidence from different channels.

 

My intention is not to denigrate ETHLend. I simply want to show people the truth and want people to receive the amount of payment that they agreed upon. The evidence portrayed here should suffice for that purpose, even though more evidence has been collected.

Do a search on Reddit also.  It appears they are censoring the community if there is any one bringing up the facts on the little scheme they are pulling.  I feel like we are right in the middle of watching ETHlend break.

I was just kicked out of the ETHlend telegram chat for asking about this thread and why they were not answering the questions.  Head over to the telegram and ask them about this thread and see what their reaction is.  I would steer clear of this as things seem a bit shady.  Why would one be kicked out for asking that question?  I guess they don't want to deal with this bounty at all.  Maybe making that final money grab?

I wouldn't hold out much hope.  It appears they are bailing out.  They have not answered any questions here for weeks. 

Almost a month into trying to get this fixed.  I have PM'ed (both here and telegram), posted proof of authentication to the thread and I have even told ETHlend to simply send the payment to the original sign up address on file for the bounty and no luck.  Why am I being ignored?

ETHlend is dumping in part because all potential investors see what a large screwup is going on with this bounty.  All questions go unanswered after the horrible attempt to make participants count their own stakes.  Now the entire spreadsheet is compromised and they will not fix it.

Who would trust a lending project who cannot effectively run a bounty and fix problems as they occur.  This project is dead and most likely a scam.  Why else would they ignore this problem?

I dont undestend this fk dump... btw i think dump now is just for tard...

Please I was marked green on my spreadsheet on week 6 but I did not see any token on my wallet

Apparently, the developers did this in order to avoid a sharp drop in prices. Perhaps they make all payments manually and because of this they made such terms.

Whats up with Ethlend ignoring all these requests?  Ethlend are you there? 

As they distribute every 2 millions every week, you can estimate your payment week by manually accumulating every reward claimed from the stset of the next week until you reached 2 millions, then start a new week from 0 again

I filled out the form in the last days. How long should I wait for my coins? For ages? To what date will they make all payments on the bounty?

I forgot about this because I knew it would take a long time to receive the coins. Just checked recently and I have my LEND now. I think I filled out the request form pretty early though. Be patient everyone, and don't be too eager to sell your coins when the market is so low. LEND has shown itself to be a strong coin and a good project and will likely revisit its highs (and higher than that) once the market heats up again.

i received all my bounty, thanks ville.

so far ville handling it very well, compared to last manager who almost did not reply to me at all

Bumping in hopes someone will see and take care of  my issue of being called a scammer when I'm the real bounty hunter.  Please fix or respond. 

5 weeks distribution done, markets are down not only this token, we have to wait until they send it to us. it took 5 weeks to send around 500 records, it will take ages to come around 2000.

Was it Ville?  If he said that then someone needs to step in.  With the craziness they started throwing that ridiculous form out there telling people to count their own stakes  they should have better communication than this.

May we please have our entries updated and questions answered.

I cannot believe a project in the business of lending and money handling is running this bounty program like this.  Does not instill the best feeling for investing. 

Ethlend get it together!

Why was the distribution of the reward campaign divided into weeks? At the beginning, it was not announced or whether it was price effect ???This is unreasonable