Topic: [FLAGGED] [scam] BetKing.io broke ICO promise and dropped token value 99% (Read 4048 times)

He's basically saying: "gamblers lost $44k on my site already, come play with me so you'll lose more and I can pretend to be Robin Hood".
[/quote]

On a site that you can't deposit on?

There you go, he's getting better as his scam and people start doubting he's a scammer.

His screenshot shows he received 0.02331972 Bitcoin. BetKing gained millions of dollars in their scam ICO, at the time worth a couple of thousand Bitcoins. Giving back a fraction of a fraction (assuming it's true) doesn't mean squat.

He's basically saying: "gamblers lost $44k on my site already, come play with me so you'll lose more and I can pretend to be Robin Hood".

I was in doubt because they've promoted their scam project and claiming to make a refund, without any proof. But there's an user claimed he already get the refund, I don't think he's an alt of Betking. I guess you have nothing to lose to try it by contacting their email address.


To gain attention, the topic should be moved to service discussion (altcoins) board.

Hey, I've seen this one before:

And 2 years earlier, he did the same:

The scam and misleading only gets worse. Those "BKB tokens" he claims to be refunding expired years ago:

I've seen the new topic. He's trying the same every 2 years, somehow using his previous scam to convince gullible people he's the good guy now. Lol.
If people still fall for his scam, despite a big red Flag banner, -11 and a self-moderated thread, they can't be helped.

See:

Of course not, he's a scammer.

---

---

He's still using one post Newbie sockpuppets:

---

---

Why is he advertising his "token refund" on the Gambling board anyway? The rules are One thread per site ONLY. I've reported his topic:
Update: a Mod locked the topic.

He is back posting in the forum again after yet another re-launch: BetKing.io Token Refunds - $44k refunded since going live again

If you still have your 7278 BKB from the 2017 Betking scam you should be able to get $664.34 compared to the approximate $700+ you were originally owed (according to the rates given above in the post). The question is, will he pay his debt to you?

Where would he have received investment from? There has to be a bankroll in order for a casino to operate as a viable business. Granted he stole the previous bankroll and blamed it on an imaginary hack but this time he claims BetKing is now privately bankrolled and "The pool has been funded with $100,000 from other unrelated projects and the site owners personal funds to kick start the relaunch of the site."

If he really has managed to fool investors then eventually through lack of any real interest from gamblers in the betking.io website, it will definitely close. Whether he closes the website as an exit-scam would be determined when that stage comes but it definitely will. Other casinos are too far ahead therefore betking.io can only dream of getting a slice of those customers but like previous occasions it will fail, again.

It's typical for broke casino's: trying to fake it till they make it. If it's profitable, he'll be "good and honest" again. But if it's not profitable, he has no money to pay anyone. So as a player, you can only lose.

How much longer will this scammer try to rinse the Betking name?

I thought it was a matter of time before he returned but did not expect it this late. If anything, I would have expected him to have returned with (yet another) re-launch a long time ago.

At least for him there is one member that is already playing even with miniscule amounts of BTC if those figures are even correct. I wonder how long this will go on for before he tried to fund it with another round of tokens and investments. In the end, he will run off again that is inevitable.

He's baaaaackk



From betking tg channel:

You know as well as I do that I can't pursue legal action against some anonymous guy on the internet for $700. All I have to fight scammers is this platform (Bitcointalk).

Either way, BKB would have been "converted" one way or another, so I did the only sensible thing left: cut my losses. But that doesn't mean Dean made me whole.
If you disagree, you're free to withdraw Support for the Flags and Oppose them instead.

Dean is free to contact me to work something out. I'm not unreasonable


I'm not sure why you're trying to find a loophole for scammer Dean. Fact is he broke so many of his previous promises and now created his fifth Bitcointalk account to post this:
Note that this can't be verified at all, and since he's a proven liar and scammer, I don't believe a word he says.

As a holder of a debt obligation, you have an expectation of repayment obligations, and/or repurchase obligations as outlined with the agreement between you and the creditor (in this case Dean/BetKing).

If the creditor fails to honor any repayment or repurchase obligations, as a holder of a debt obligation, you have a cause of action against the creditor. A holder of a debt obligation can be made whole by the creditor honoring their repayment or repurchase obligations. A holder of a debt obligation can also choose to settle their claims by accepting less than the total amount owed in exchange for a quick resolution and/or certainty they will receive a recovery. If you sell your debt obligation you are selling the right to receive a repayment (and to sell your debt obligation via repurchase) to the buyer, who can choose to settle if he so chooses.

The title of this thread appears to imply that you "lost" 99% of your "investment" due to Dean's/BetKing's default in their obligations. A key part of the type of flag you opened is that there needs to be a way in which you can be made whole, and have the flag rescinded. Presumably, you want to receive the 99% of your initial investment that you lost. If this happens, what happens to the buyer of your BKB? They presumably bought a token with a face value of $1.00 for a price of $0.01. If they bought at a discount, the face value remains the same, and they presumably bought with the expectation of either being able to receive the full face value of the token or being able to settle for less than face value, but at an amount greater than their purchase price.

This is an important part of contract law, and should be considered prior to supporting a flag involving a contract violation.

I don't get why you disagree on this. Dean ended the quarterly buybacks, which broke the terms of the BKB tokens, which is a clear breach of contract, which is (the main reason) why I Flagged him.

No worries, I have no expectations left.

I have to disagree with you on this one. If Dean unilaterally changed the terms of the BKB tokens, you would have a breach of contract claim against him.

If someone owes you money as evidenced by a bond, you cannot sell the said bond for a discount and expect the creditor to pay you the difference between the sale price of the bond and 100 cents on the dollar of the face value of the said bond. The buyer of the said bond can negotiate with the creditor to settle the debt, which may or may not involve the creditor receiving less than the face value of the bond.

I haven't seen it.

Lol, that would be Dean himself! He told people that BKB tokens would expire, and should be exchanged for the BKT tokens he created. Not having them expire (and possibly buying them back from himself) is just shady.

That also means buying back BKB tokens doesn't make me whole: he broke his buy-back promise, which is what forced me to exchange the BKB tokens for other tokens.

I came here to ask about this very issue. Is there any evidence that Dean is in fact trying to make investors whole by buying the old BKB tokens?

If someone had sold at a low price, their claim would have transferred to whoever purchased their tokens.

I'm not defending him but no matter what he does, he's not gonna make everyone happy. It's a very shitty situation that should end with him serving prison time, but so far that's not looking like the outcome we will see here. He should have to refund 100% of what users invested based on the bitcoin amount, not the dollar value.

So the question becomes, does everyone accept something vs getting nothing? Not that he's gonna care about what's written here, but this is what it boils down to.

Quoting myself from 2 years ago:

And now this happens:
Dean said BKB tokens would expire 2 years ago, leaving the only option to exchange them for his (much more abundant) BKT tokens. And now Dean is saying he's buying back BKB tokens again. Let's just add it to the long list of shady actions.

I just realized Bitcoin is much higher again, so at the current exchange rate Dean would have to give back only a fraction of the BKB tokens' original Bitcoin value. He did that before, until the exchange rate didn't work in his favor.

Yes they are a scam, they even created their own campaign right now and they are strict to suppress people from revealing their scummy behavior by deleting the replies. Good thing that there's a banner that warns users to not deal or be careful with dealing with them, so as to not get scammed.

never seen a scammy bookmaker like this one! no one should play here, it's a very trap.
I have already dozens of email due their infinite issues... with contests, tokens, everything.
everything designed just for scammed and just pathetic support. Flag supported!

Done.  Fuck this operation and their attempts to obfuscate their wrongdoings through alt accounts.  There's enough evidence presented here to prove that they're outright scammers, and it's unfortunate that they have another signature campaign going.  Hopefully JollyGood's thread will persuade members to stop promoting them.

I wasn't aware of this situation for some reason, but I'll be keeping an eye on it from now on.