An update about Infinitus.
I was kicked out of their TG group months ago because I kept asking and pushing for their so-called "integration" between in-app wallet and external wallet (honesty, it wasn't that difficult that it take months!) and around December 2019 I learned secondhandedly that the "integration" was finally established after an extremely long one year wait.
Their scheme was like this:
You need to convert INFCredit (their in-app native token) to an INFToken if you want to take them out to external wallet. Conversion was limited to 1,000 INFC daily and costs you 1%. Then, moving INFT to external wallet also limited to 1,000 INFT, as well as cost you 1%. I don't think this rule ever announced before. What a way to rob your member, if you ask me.
Further, this hard work and extreme effort of establishing integration was running smoothly for roughly four months before they encountered another issue and stopped working. The team was "working on the issue" ever since.
Recently, they abandoned their TG group, went silent and ignoring their members question for issue with conversion, stating that as the app was working and they have their own FAQ section in the app, telegram support was no longer needed, thus they won't be answering queries on TG.
It leads to a very silent group with dozen of unanswered question where admins were online and available but never answered any. Their monthly reward for May (the one that's planned to be good for around one more year and suddenly announced to be the last as per April) is not delivered up to this day.
Seems like an exit scam for me.
Topic: INFINITUS-SCAM (Read 249 times)
This project isn't literally scam but as what holydarkness said before that their actions are questionable.
It looks like they don't want to be responsible for this delayed development deadline and just like avoiding pressure from the community. Even they have some supporter (I don't really know whether they're a real people or fake or just bots) in their telegram group that gives pressure or make people who protest about the integration become like a bad guy or FUD-er.
They threat the community arbitrarily and don't even want to tell the community what exactly they're waiting for or what's the reason for the delayed integration.
They just said that they will announce news and never say any details about their current progress.
It looks like they don't want to be responsible for this delayed development deadline and just like avoiding pressure from the community. Even they have some supporter (I don't really know whether they're a real people or fake or just bots) in their telegram group that gives pressure or make people who protest about the integration become like a bad guy or FUD-er.
They threat the community arbitrarily and don't even want to tell the community what exactly they're waiting for or what's the reason for the delayed integration.
They just said that they will announce news and never say any details about their current progress.
Stumbled upon this thread when looking for their bounty thread to recall when was theirs began.
To be fair, I heard it is impossible for Singaporean crypto company to turn scam as their laws are rather strict. I heard about this several times (and later, earlier today on their channel by someone) throughout cryptoworld although I never look into the truth deeper myself. But their actions and decisions are questionable.
Up to this day, they are yet to establish the integration, although as per their last words, it should be by the end of June, and on March (or is it February?) they announced that android integration is finished but they'll need to wait for the iOS for sensw of fairness. And so they took 5 months to built iOS integration. It might be necessary to mention that according to the initial rule, the payment would be to participants' ERC20 wallet before changed to their in-app wallet.
Due to the extreme delays of integration, I suggested to the team around two weeks ago to do a manual integration where users submit their destination address and the amount they want to withdraw to the team to be sent manually, this suggestion sounds logical to compensate their constant delays, but they didn't want to implement this.
As per few days ago, team are withdrawing their working hours (not that their working hours really efficient, as they usually do small talks about food and their days with two very eager members) and set complaint form for anyone to submit which they will reply individually, without clear reason of why this action taken or what the outcome will be. IMO, as they now have more time, they could really do that manual integration.
In regards to the scammer profile, it's not theirs, officialblockfolk was their BM, and there's a strong indication that it was HuaHui's alt account because team keep referring BM as HuaHui instead of blockfolk
edit: adding info about BM
To be fair, I heard it is impossible for Singaporean crypto company to turn scam as their laws are rather strict. I heard about this several times (and later, earlier today on their channel by someone) throughout cryptoworld although I never look into the truth deeper myself. But their actions and decisions are questionable.
Up to this day, they are yet to establish the integration, although as per their last words, it should be by the end of June, and on March (or is it February?) they announced that android integration is finished but they'll need to wait for the iOS for sensw of fairness. And so they took 5 months to built iOS integration. It might be necessary to mention that according to the initial rule, the payment would be to participants' ERC20 wallet before changed to their in-app wallet.
Due to the extreme delays of integration, I suggested to the team around two weeks ago to do a manual integration where users submit their destination address and the amount they want to withdraw to the team to be sent manually, this suggestion sounds logical to compensate their constant delays, but they didn't want to implement this.
As per few days ago, team are withdrawing their working hours (not that their working hours really efficient, as they usually do small talks about food and their days with two very eager members) and set complaint form for anyone to submit which they will reply individually, without clear reason of why this action taken or what the outcome will be. IMO, as they now have more time, they could really do that manual integration.
In regards to the scammer profile, it's not theirs, officialblockfolk was their BM, and there's a strong indication that it was HuaHui's alt account because team keep referring BM as HuaHui instead of blockfolk
edit: adding info about BM
I've archived the page if they've modified some rules ----> https://archive.is/quKjo
It is unfortunate to see that they have exploited others by changing the rules. And then try to edit your topic using Scam Report Format
Negative trust must be placed so that the manager avoids procrastination
BTW: only 33 member download that app
It is unfortunate to see that they have exploited others by changing the rules. And then try to edit your topic using Scam Report Format
Negative trust must be placed so that the manager avoids procrastination
BTW: only 33 member download that app
Quote from: https://archive.is/quKjo
Bitcointalk bounty participants MUST NOT ask any bitcointalk bounty related questions in the ICO telegram. Anybody found doing so will be removed from the Bitcointalk bounty.
(The official Infinitus telegram is meant for ICO news updates and announcements.)
Do take note that the ICO team/bounty manager(me) would have the right to change the rules and regulations of the bounty at anytime. This includes the extension of bounties, the adjustment in the amount of bounties, the early closure of bounties etc.
(The official Infinitus telegram is meant for ICO news updates and announcements.)
Do take note that the ICO team/bounty manager(me) would have the right to change the rules and regulations of the bounty at anytime. This includes the extension of bounties, the adjustment in the amount of bounties, the early closure of bounties etc.
What happened:: Infinitus is a scam developer team,
they make bounty campaign on june 2018.
they send bounty token since jan 2019 to the smartphone application
until now we can't withdraw the token to the wallet
if we ask to the admin on the telegram group they only said "Team still working on it"
and they can give the exact time to do it.
and they kick me on telegram group.
Scammers Profile Link: https://bitcointalksearch.org/user/officialblockfolks-2197743
Reference Link: https://bitcointalksearch.org/topic/bountyicoinfinitus-signature-twitter-campaign-worth-up-to-200000-4461363
Amount Scammed: $200.000 for bounty
Payment Method: $USD
Proof of Payment: https://imgur.com/Mbz9IYs
PM/Chat Logs: https://imgur.com/J8YXLoD
Additional Notes: becareful about this team.
they make bounty campaign on june 2018.
they send bounty token since jan 2019 to the smartphone application
until now we can't withdraw the token to the wallet
if we ask to the admin on the telegram group they only said "Team still working on it"
and they can give the exact time to do it.
and they kick me on telegram group.
Scammers Profile Link: https://bitcointalksearch.org/user/officialblockfolks-2197743
Reference Link: https://bitcointalksearch.org/topic/bountyicoinfinitus-signature-twitter-campaign-worth-up-to-200000-4461363
Amount Scammed: $200.000 for bounty
Payment Method: $USD
Proof of Payment: https://imgur.com/Mbz9IYs
PM/Chat Logs: https://imgur.com/J8YXLoD
Additional Notes: becareful about this team.
Jump to: