FreeBitco.in Appears Hacked - Monthly Prize Money Stolen From Multiple Users

JollyGood

legendary

Activity: 2534

Merit: 1713

Top Crypto Casino

It seems as though it is waiting to happen, I cannot see any other outcome for Freebitcoin except an exit scam. If they do not close down they might become a website associated with selective scamming but for how long?

One option could be if there are enough reports to the domain registrar and/or the hosting company about the scam accusations, maybe they will take action and as a result it will cause disruption to them (or at least inconvenience until they migrate to another host if their domain is not blocked).

Quote from: FinneysTrueVision on October 22, 2024, 01:53:03 AM

In a way, they have already done a soft rug pull by misleading investors on the benefits and potential of their FUN token. An exit scam would just be the cherry on top.

If they were a major exchange, they would have already been charged with security fraud.

There have been exit scams on the forum before, but there are also websites like Bitvest that continue operating despite having major problems. It could go either way with FreeBitco.in.

FinneysTrueVision

sr. member

Activity: 1680

Merit: 379

Top Crypto Casino

Quote from: JollyGood on October 21, 2024, 03:10:05 AM

Their competence has to be called in to question. The manner in which the website has been run is not the best (or shining) example of how businesses are best run.

I think the impression they gave about staff when more and more problems began to be reported, simply was not true. There is something the owners/operators of the website are not sharing. When funds go missing and no real explanation has been provided, you know it is time to avoid using that website. From experience over my years in the forum and not being specific to Freebitcoin, if they are ignoring customers while operating the website without any care process, the days before an exit-scam takes place are usually not that far away.

In a way, they have already done a soft rug pull by misleading investors on the benefits and potential of their FUN token. An exit scam would just be the cherry on top.

If they were a major exchange, they would have already been charged with security fraud.

There have been exit scams on the forum before, but there are also websites like Bitvest that continue operating despite having major problems. It could go either way with FreeBitco.in.

JollyGood

legendary

Activity: 2534

Merit: 1713

Top Crypto Casino

Their competence has to be called in to question. The manner in which the website has been run is not the best (or shining) example of how businesses are best run.

I think the impression they gave about staff when more and more problems began to be reported, simply was not true. There is something the owners/operators of the website are not sharing. When funds go missing and no real explanation has been provided, you know it is time to avoid using that website. From experience over my years in the forum and not being specific to Freebitcoin, if they are ignoring customers while operating the website without any care process, the days before an exit-scam takes place are usually not that far away.

Quote from: FinneysTrueVision on October 20, 2024, 11:07:05 PM

When the problems started to get out of hand, the FreeBitco.in PR account tried to give the impression that they would be hiring more people to provide support. Some issues have gotten fixed after many weeks but it is hard to get a direct response from them. They denied they had any security problems and the incidents where users from the wagering and referral contest lost funds got swept under the rug. They have never addressed it again despite their explanation lacking any credibility.

The WOF issues still persist, even though they claimed that the issue was escalated and they were conducting an investigation. 3 months to investigate a technical problem is unheard of with any casino. They would have to be the most incompetent programmers if they have not come up with a solution by now. Considering how poorly the site is currently being run, their competence does have to be questioned but I also believe that they are intentionally refusing to fix the WOF issue because it costs them more money than what they generate from having it. Similarly, they choose to ignore users who had funds stolen because it is not something that benefits them financially.

FinneysTrueVision

sr. member

Activity: 1680

Merit: 379

Top Crypto Casino

When the problems started to get out of hand, the FreeBitco.in PR account tried to give the impression that they would be hiring more people to provide support. Some issues have gotten fixed after many weeks but it is hard to get a direct response from them. They denied they had any security problems and the incidents where users from the wagering and referral contest lost funds got swept under the rug. They have never addressed it again despite their explanation lacking any credibility.

The WOF issues still persist, even though they claimed that the issue was escalated and they were conducting an investigation. 3 months to investigate a technical problem is unheard of with any casino. They would have to be the most incompetent programmers if they have not come up with a solution by now. Considering how poorly the site is currently being run, their competence does have to be questioned but I also believe that they are intentionally refusing to fix the WOF issue because it costs them more money than what they generate from having it. Similarly, they choose to ignore users who had funds stolen because it is not something that benefits them financially.

JollyGood

legendary

Activity: 2534

Merit: 1713

Top Crypto Casino

I posted in their thread: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest after reading your post and found the link to this thread.

You created this scam accusation in May 2024 and it remains unresolved, that in itself should send out a warning to anybody using the Freebitcoin website. What alarms about your situation is that other affiliates have suffered the same result therefore in all probability you are right when you stated in the OP it cannot be a case of you getting hacked.

Freebitcoin are going through serious problems and as a result innocent parties are having to suffer financial losses.

Quote from: BayAreaCoins on October 18, 2024, 05:37:09 AM

I sent a message this evening.

Besides that, still no response or anything... pretty wild way to treat such a huge affiliate.

STT

legendary

Activity: 4088

Merit: 1452

Quote from: ixi1234 on July 07, 2024, 05:32:39 AM

This is not a topic for discussing token fun and profitability. Use the main freebitco forum thread for this!!

People relate the two as similar, the token being 'of no worth' in a deliberate manner and then the idea that negligence on the site would also be deliberate. Either as an exit scam or just a kind of abandonment of a formerly working site.

I can see how people link all those together though Im not saying I know any of them to be true on a personal level. I would argue the link is not direct, a token price wont do well if demand falters, doubts exist on the site overall. If they fix all usage problems, it would most likely help their token prospect etc.

It does sound like they need 10x the support response and work to resolve issues but also its obviously a faucet not a premium site.

BayAreaCoins

legendary

Activity: 4004

Merit: 1250

Owner at AltQuick.com

Quote from: FinneysTrueVision on August 15, 2024, 12:53:18 AM

Quote from: zazarb on August 14, 2024, 05:22:12 PM

Since few day I can't login to my account. Message say that incorrect login details, if I try reset password , receive message that link expired.

Something similar happened a month ago. You can try contacting their customer support team on Bitcointalk and they might be able to help.

Quote from: CSFBC on July 17, 2024, 06:53:31 AM

Hi,

It has come to my attention that some users have experienced login issues when attempting to access their account.
Can all who have been affected by this please send their User ID and email address to me via DM.
I will then review each individually and get back to you asap.

Best Regards,

Customer Support Team
FreeBitco.in

I sent a message this evening.

Besides that, still no response or anything... pretty wild way to treat such a huge affiliate.

FinneysTrueVision

sr. member

Activity: 1680

Merit: 379

Top Crypto Casino

Quote from: zazarb on August 14, 2024, 05:22:12 PM

Since few day I can't login to my account. Message say that incorrect login details, if I try reset password , receive message that link expired.

Something similar happened a month ago. You can try contacting their customer support team on Bitcointalk and they might be able to help.

Quote from: CSFBC on July 17, 2024, 06:53:31 AM

Hi,

It has come to my attention that some users have experienced login issues when attempting to access their account.
Can all who have been affected by this please send their User ID and email address to me via DM.
I will then review each individually and get back to you asap.

Best Regards,

Customer Support Team
FreeBitco.in

zazarb

legendary

Activity: 3514

Merit: 1548

Get loan in just five minutes goo.gl/8WMW6n

Since few day I can't login to my account. Message say that incorrect login details, if I try reset password , receive message that link expired.

BayAreaCoins

legendary

Activity: 4004

Merit: 1250

Owner at AltQuick.com

Quote from: ixi1234 on August 10, 2024, 08:16:59 AM

The support service has still not given an answer about the stolen btc

Same, not a single word... which is wild.

ixi1234

copper member

Activity: 67

Merit: 2

The support service has still not given an answer about the stolen btc

[email protected]

newbie

Activity: 16

Merit: 0

Again 1 month further...

Apart from the fact that I have not received my €21300 Samual Das aka Wetsuit,

Now you screw us over on the WOF spins too? for several days we did not received WOF based on the amount of Funtokens you Hold.

FinneysTrueVision

sr. member

Activity: 1680

Merit: 379

Top Crypto Casino

Quote from: codergeek on July 24, 2024, 01:15:37 AM

I received a message from CSFBC with regards to the stolen funds.

PM was dated July 18, 2024, 04:24:16 PM

Support is investigating this.

That’s better than nothing and better than their previous response where they blamed users for getting their accounts compromised, even though most of the evidence seems to suggest that there was a security flaw on their end because of how specifically it targeted a narrow set of users. It can’t be a coincidence that only high rollers and referrers who were on the monthly leaderboard were the only ones affected by a malicious script.

If the investigation is legitimate and they find the cause of the issue, it would be appropriate to compensate the users who were affected. That would go a long way in restoring their reputation or at least salvage what remains. There are still some other issues that need to be fixed like the delayed emails and lack of customer service. Their business has been way too successful for me to think they will just let it die, but we will see if they are really committed to improving the areas which they've been neglecting in these past years and have caused a lot of disillusion.

codergeek

jr. member

Activity: 130

Merit: 3

I received a message from CSFBC with regards to the stolen funds.

PM was dated July 18, 2024, 04:24:16 PM

Support is investigating this.

nutildah

legendary

Activity: 3010

Merit: 8114

Quote from: broke_tradah on July 09, 2024, 05:30:12 PM

You're welcome Wink

You'd need to post more evidence than a gif if you want anyone to believe you... looks like you've been doing this kind of thing for 5 years.

Quote from: broke_tradah on March 29, 2024, 10:37:29 AM

I sucked the site dry and ran TheQuack off into the sunset Cheesy

Guess the sunset isn't all its cracked up to be.

broke_tradah

jr. member

Activity: 350

Merit: 6

You're welcome Wink

ixi1234

copper member

Activity: 67

Merit: 2

This is not a topic for discussing token fun and profitability. Use the main freebitco forum thread for this!!

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

Quote from: examplens on July 07, 2024, 04:12:55 AM

I did not specifically deal with this possibility, but as far as I have noticed, the FUN token is in a slight but constant decline in value.

It will eventually go to zero, as all similar shit tokens.

When these kinds of promotions come out, we have to think that, obviously, the company is not doing it to lose money, but on the contrary. But I read some people in the gambling section who seem to think that they are going to make a real profit. You have to think about whether it suits you because you are a regular punter and it will give you more cashback, or provide a better experience.

But I saw the token trend a long time ago and decided it wasn't worth it. It made sense when it was launched, when people could still think that through the adoption of the site it would appreciate in value, and it did, but for a short period of time.

examplens

legendary

Activity: 3472

Merit: 3507

Crypto Swap Exchange

Quote from: mindrust on July 07, 2024, 01:28:30 AM

That’s why I said FUN’s only purpose is to scam people out of their bitcoins.

You paid bitcoins for FUN tokens. Your initial investment lost most of its value. You were told that you were going to get something for your sacrifice, and you are getting a fraction of what was promised.

In the end you paid something, getting a little something in return.

It was clear as day that this was going to happen when they first introduced FUN tokens.

It is quite obvious, 25% APY is unsustainable and it is only a model to discourage users from withdrawing funds from this platform.
I did not specifically deal with this possibility, but as far as I have noticed, the FUN token is in a slight but constant decline in value. I guess it is inflation that will eventually bring investors to near zero in the best-case.

mindrust

legendary

Activity: 3276

Merit: 2442

Quote from: FinneysTrueVision on July 06, 2024, 08:00:49 PM

My problem with the token isn’t so much that it has lost so much value or that it is a shitcoin. I knew it was a shitcoin from the start and I had very low expectations. I only invested in it because of the premium benefits.

The main selling point for the premium program was the Wheel of Fortune, which is essentially a second faucet with better rewards than the normal one. The problem is that the rates for winning larger prizes were quietly nerfed and the prize amounts were also decreased, not just a decrease due to Bitcoin price volatility but an additional decrease on top of this.

When I inquired about the logic behind making prizes worse and worse, TheQuin gave a typical snarky reply basically saying I should be thankful to be getting free money. It is not actually free, however, since it requires an upfront investment. I’m sure the changes were made to keep the premium membership program sustainable, but the way they went about doing it, making changes that drastically changed our original expectations without notifying users, felt like they were pulling the rug from underneath investors.

That’s why I said FUN’s only purpose is to scam people out of their bitcoins.

You paid bitcoins for FUN tokens. Your initial investment lost most of its value. You were told that you were going to get something for your sacrifice, and you are getting a fraction of what was promised.

In the end you paid something, getting a little something in return.

It was clear as day that this was going to happen when they first introduced FUN tokens.

Topic: FreeBitco.in Appears Hacked - Monthly Prize Money Stolen From Multiple Users (Read 2792 times)