Topic: Just a warning that Sapien Network ICO is a scam. (Read 1137 times)

Obviously this is a Fud because if he is serious and very truthful he will post this in Scam accusations with proofs of what he was claiming here but he does nothing but detractors

Upon checking now yeah the project looks like NOthings pointing towards scamming but there are some issues on their apps though i still don’t vouch for them since i have no business with the team

They have created an app but that looks useless and so many people are aware if that was only a garbage app. I said this based on the fact about how terrible they are dude. Sapian is untrusted platform and so many people know about that.

@OP,
if you think that this project is scam then better to make another thread into the scam accusation board. There you can submit your accusation and have some proofs for that matter. May some DT members can help you.

That's for the information  you really spent lots of time in doing such a good research, But it seems there are some dude who organized an airdrop which turned out to be a scam,  but will do my own research on this can't conclude yet if it's a scam

You might assist in sharing your list with us, the way you view the genuinely of an ICO might be different from mine, the most common way we usually use before is the whitepaper which has already been corrupted, and the most reliable ones we would have invest in, which are the ones coming through IEO are quite very difficult to participate in because of the slots that gets filled within a twinkle of an eyes, so the best way now is also by reviews, especially on already existing ICOs, anyway, I know we still have some reliable projects, that is why I have decided to strictly be participating too in ICOs being promoted by trusted and reliable bounty managers.

If you could get these information easily after they have already finished ICO and dupe whoever they must have succeeded in duping, how come you didn’t get such info and post it before investors and bounty hunters participated in it.

At least they didn’t just adjust their whitepaper now, their whitepaper must have been the same with the one they used during ICO, you now see that we are the problem of ourselves in falling into these scam ICOS, if everyone can do this research like you did before ICO, we will not end up promoting the project or investing in it. So now that you have made the research for us, new investors should be careful with them.

They might just be camouflaging with the app, I stopped monitoring them ever since I stopped participating in their ICO when it came out, I never even followed it true, I knew something was not right about them, I only did one or 2 weeks of their bounty campaign and dropped the projects for a more reliable ones, how can they function well when they don’t have a project team that can be verified, they are just using that application to buy themselves times to erase their fraudulent activities, they must have even bourn the money got finished by now. People just still need to be more careful with them.

Adding to the list so many programs that are scam and also there is no clarity on their project. avoid investing from ico or tokens that are not clear from us losing big because they have no price development at all

I don't know anything about sapien network but i will comment on this:

It is the %99 of the ico's I mean yes it is scamming but it is so common. First, i read this, i said so what is the issue.

from the OP's point of view the evidence that the project was a scam was indeed very strong, but maybe the OP experienced fear if it had to post or report the incident to the moderator about the situation. however, if the OP has strong evidence it would be better if the OP could report it officially to the moderator.

They have an app in beta which give us an idea of what they want to do. A kind of linkedin and facebook. They don't seem to be a scam ICO. But i can't guarantee it. The app for the moment is very limited and people don't really post real information on it. Only the profiles information can be modified and comments on another profile. For the moment, they don't control the informations posted on the app. But maybe they are going to do it if  they want it to be legitimate.

Regarding 4
This guy has its profile indication to Sapien.
https://www.linkedin.com/in/aureliennicolas/

They have app, which works but the purpose of the app is not clear and not sure whether it will be successful. They constantly do promotion on vyper, without paying so far. Telegram group does not have any good discussions. This what i saw.

Still some sapien on my wallets I would say I cant still consider them as a scam but still that's the way on where it was going. They do have the platform but still not really fully developed and token price is dead.
Good thing the developers are still making updates but I don't see anything special with this project rather than a copy of steemit but wont really stood up a chance.

The project Sapien successfully conducted ICO, collected the investment amount of more than $ 10 million, but I also notice the fact that this project does not develop. As a participant, I do not receive any news from this project. And the coins of the project depreciated and became just rubbish in my wallet! 

I wouldn't go so far as to call it a scam, but I do think it was just developed more as a "proof of concept" than anything else.

Yes, their "beta" is live for the last few months, but according to many users, it is not a beta, more of an "alpha" and at times, just about usable.

There are many issues with the platform, mostly relating to speed, pages loading/not loading, ability to post images in posts (how hard can that be??), the inability to see your own posts, etc.  The Sapien team are aware of this, particularly after a group of users who invested in the ICO formed a Telegram group to discuss their concerns and presented these to the team.  Did anything happen?  Yes and no.  Some issues got fixed, but quite a lot did not.  It is quite clear that Sapien have NO developers working on this project.

Their statistics do not make sense.  This articles lists two of them - which sound ridiculous when placed side-by-side.
https://www.investinblockchain.com/sapien-shatters-user-growth-projections/
Sapien claims to have "4,000 active daily users", yet also boasts that "since June, 10,000 posts have been created on the platform".
So - 4,000 active daily users have only managed to create 10,000 posts in a period of almost 3 months???

As someone who uses the platform, I can confirm that their "active daily users" figure is a lot closer to 40 than it is to 4000.

As for their original raison d'etre of "fighting fake news", not only are they clueless in how to achieve this, but they seem to actively encourage fake news on the platform, particularly in relation to political posts.  Ill-informed or blatantly incorrect material is not removed, just left to sit there, even after it has been reported as fake.  Thankfully, most of their userbase is only interested in crypto, so the political propaganda spread by a couple of professional trolls does not hold much sway.  However - "fighting fake news" - not a chance... 

Since the introduction of their "Rewards Engine" a few weeks ago, users get paid to comment or upvote a certain number of posts each week.  So, any post is going to get upvotes and meaningless comments, simply because people want to earn more tokens. 

And lastly, not only does Sapien not have 4,000 active daily users, but it does not have the infrastructure to cope with that many.  It is slow and laggy even with the small amount of users it has at the moment.  It needs a serious amount of work if it intends to scale or gain any kind of wider adoption.  And since their "development team" - if they ever had any - appear to have either lost interest or moved on, this is looking extremely unlikely.

Before anyone accuses me of spreading FUD, all of the above is from my own personal experience of using the site.  I was very supportive of Sapien in the beginning and I do hold SPN tokens.  However, would I consider them a good investment at the moment?  No.

Well sapien network was promoted heavily during their ico, i was watching it everywhere maybe it was due to a lot of bounty hunters in their campaign, i think we should have to wait and see a little more lets see their claims of a ready platform are true or not.

This reeks of prolonged exit scam.

FYI - I have filed a complaint with the Consumer Financial Protection Bureau - here -> https://www.consumerfinance.gov/complaint/

I encourage everyone that participated in this disaster to do the same.

Here's the domain registration information:

Ankit Bhatia

2024 Durant Avenue, 402, Berkeley, CA 94704

Email: [email protected]

Phone: (510) 789-3522

in any case, all negative information is used according to a certain plan, which is aimed at discrediting a particular project. Therefore, before believing or perceiving news, they must always be checked.

Ethier it is a scam or not but the good thing has we had an opportunity to check the legitimacy of the project, though if it is a sort of FUD then we will have time to avoid of being a scam, so thanks for the information.

1. Yes, they did. This is the exact words from the Sapien admin in response to another users question about sending eth to the contract address, "yeah airdrop is scam". I would post a screenshot here if i could but i'm not that privileged yet.
2. You don't have any more credibility than i do with your 'fake' account and 8 posts, haha! But your accusations about cheating and the airdrop are completely false.
3. Either you were hired by FB to spread FUD about the Sapien Project or you're just butt hurt because the price dumped to 1 cent after the token unlock and you sold for a huge loss.

1. No, they not stated that.
2. They have cheated with airdrop but won't do it again with investors? Lol. Either you are very innocent or one of these fake accounts who defends this shit

Ofcourse he will never use hes mail account since he was only making fake news to break the support  for sapien coin team,i dont know whats OPs main agenda about this accusation but I strongly believe that this is personal because i have known this coin for quite sometimes and happens to have some hype after beta trial so i dont really understand the scam accusations were came from

Are you suggesting that all the 'newbies' here are just using fake accounts so they can avoid taking any backlash from their posts? Well I can tell you that's certainly not the case here. I've been watching the crypto space for several years now but didn't join bitcointalk until February and didn't start posts until this month until i paid off the ip ban. Plus i'm a pre-sale investor in Sapien and i'm actively using their platform and i can certainly tell you they are not a scam. They have a working platform and they are constantly making updates. If it was a scam, would they still even bother to make updates or even do AMA's for the community? But i suppose because i'm still a 'newbie' none of what i just said matters?

First of, this thread should be moved to scam accusations and many opinions from "newbies" with few activites I do not bel little you but can you use your real account. Just saying.

Op, we need more proof because if this project this is legit you just   gave FUD to it's potential investors. You know that a lot of project have the same concept however if you can give us more details that would be helpful and we will thank you for stopping a scam.

The Sapien Team put out a nice presentation this week that shows how they plan to utilize the SPN token to grow their economy. I still think there's a lot of potential with their project so their success will really come down to how well they can execute that plan.

https://www.sapien.network/static/pdf/Staking_SPN_Overview.pdf

There is a lot of scammers in the telegram. this is not my first time to see that in fact all of the icos telegram groups are being infected by a lot of scammers. Be careful to do anything with it.
I think that it will be recovered again as soon as possible.

The airdrop was a scam and the Sapien Team already stated that in their telegram channel but i believe it's a real project with a goal to fight fake news. I invested in the pre-sale early on and yeah it's a bummer that the token is nearly worthless right now because of poor planning on release of tokens. From what i hear the people that dumped are all from the bounty program and because they got their token for free any price they could sell was still a gain unlike the rest of the investors.

I was hoping to get more details since the title was kinda alarming. Turned out to be an obvious FUD which isn't really working =P It's a good thing an ICO management platform called Menlo One is going to launch its token sale this July as it aims to help us learn about ICOs while keeping FUD and noisy useless posts out. Fellow newbie ICO investors should check it out. Here's a youtube interview with Menlo's ICO https://www.youtube.com/watch?v=Rw1QBpBYE6o you can thank me later.  

Currently investors losing too much money because they are investing in projects which have no base just good advertising stings helping them I also investing in this and now realizing its just mistake and I also lost my money because they are no professionals

What they do? Earn the most they can. It seems to be a big scam. Asking ETH to get airdrop...

The fact that you are using a newbie (alt) account to make this accusation statement make you are less likely to be believed. Secondly you do not put any concrete evidence make me think that you have a personal problem with this project, and you just spreading a shitty FUD.

I like how so many newbies are here to defend the project.
I don't know if this is a scam or not but this kind of attitude is suspicious.

Does the person who started this post and everyone who was gullible to believe this post feel like a dumb ass? Sapien has their beta site up and running and it looks marvelous!This company is 100% legit.

Just now they are filling their chat in Telegram with bots in large amounts (1-2k+ per hour) because of huge members drain in the last several days.

UPD: 5-7k per our. In the morning — <40k members, in the evening — >76k. All the names are "xSjIaoh", "rhiaonto rha" etc)

Sapien is really scam.
I have completed all the conditions of the airdrop, have sent 0.001 ETH to their wallet twice but haven't received any tokens. When I asked about this shit in their chat they have just muted me! Admin reads and ignores my private messages in Telegram, Twitter etc. And I'm not alone who was suffered. In the chat sometimes appears (and then dissapears) messages, that somebody hasn't receive tokens.
This is my ETH wallet to proof you that I haven't receive anything, despite of fact of that I have sent ETH (see txs in any ETH blockcain explorer)
0xa211D5C8EfE8Ce3133f0deF6c16DE6f65B20A863
And there are the screenshots of me blocked in their chat and pm to their admins who ignores me.
https://imgur.com/a/sWRKm40
https://imgur.com/a/AuLL1A4

Moreover, as you can see in this thread sapien is defending only by newbie's (likely fake) accounts without any proofs except caps lock, insults and referring to youtube videos of sapien.

Very bad news, even though I do not know the truth yet and need more information, I will keep checking this news, many of my friends participate in this project, I am sure they do not know this news, Tim from Sapien must clarify this news to keep investors calm.

I am glad to hear that. At least they are trying to deliver things.
But I learnt that they changed the ICO terms which I don't like.

This thread must be blushing now that Sapien Beta is live and public!

I'm getting sick from the massive amount of scam ICOs, almost makes me want to quit crypto and its hurting the mainstream reputation of crypto.

I found this in Sapien telegram group: https://t.me/sapienglobal
The official sapien network must clarify at this thread



We can see big numbers their member. Almost 40k members
If each members send 0.001 ETH to SALES ADDRESS , the SALES wallet will have 40 ETH ( $ 15.500) in few days.

The question is:
1. Why admin of their group deleting my question about it?
2. Why send to SALES ADDRESS? For make sure active wallet, you just send it to Contract Address. Not to Sales Address.

PS: Until this day, that wallet has 0.234 ETH https://etherscan.io/address/0x95393b7c3A734A6EF9e702150CC929bE28B165d2

Most of tx are 0.001 ETH
      

From what I see here, seems like majority of people saying bad things about sapien network are people that are not happy that they changed their bounty program rule towards the end of the bounty.

I have done a bit of research about them and everything seems legit to me, except that their team doesn't have a lot of experience. It also seems like they will be launching in April (saw the news in their telegram announcement channel).

It will be interesting to see how all this plays out.

Don't mean to defend sapien network, but don't forget that Facebook founders were college students when they launched Facebook 

Right now I still think it is a scam, thank you for appreciating it from the beginning really good for you and everyone.

 I will study the information right away..i was part of the airdrop few days away.. a lot of fraud in the field related to the industry.many projects are scam and investors keep losing their money in the process.

One of the primary reasons ICOs are so risky is that a typical token sale is not a market, let alone an efficient market. There is no proper price discovery and there is no way to short-sell issued tokens during the listing.

Good news: there is a safe solution for those who want to profit on the knowledge that the ICO is a scam or expecting the company to fail, before the tokens are listed on the exchanges.

The answer is prediction markets:

Will SapienNetwork token (SPN) cost twice the ICO price at the end of 2018?

In short:

* The market is not tied directly to the crypto currency exchange rates and depends on the effective token price in USD, making it immune to ETH volatility
* It allows to short-sell and bet against the success of the ICO

If you are not familiar how prediction markets work, you can read it here.

Well, most of ICOs are selling the idea that they may or may not product in the future if they receive the funds.
That is why a thorough  search is necessary, and also why you should invest only as much as you can afford to lose. 

The problem is : there are people that are working their a** off to produce something and they don't get the media coverage  they deserve because of the pro scammers drawing all attention.

This is bad for both the technology adoption, the ICOs (as a way of startup funding), the companies and the investors.

I can't trust any of the projects these days guys. Just few days ago i was ripped off by a coin named Vionex which was the best prepared scam ever. Plus, i have joined the bounty of Saipen and they have changed the rules badly at the end of the campaign. The bounty hunters were not really happy at all.

Sapien is full of negative trust in the market with this new scam we again doubt credibility and future of ico now media will publish all icos are scam

Okay, let's keep it simple :

• Who has had access to there hypothetical "alpha" platform ?
• Where the hell is their smart contract located at ? (on the ethereum network)
• Why are there only bots replying to their topic on this forum ? (announce forum)

YOU ARE A BIG SCAMMER SPREADING FAKE NEWS. THE COMPANY IS REAL. THE PRODUCT IS REAL. WE HAVE SEEN DEMO OF THE PRODUCTION. THEIR TEAM DID AMA AND SHOWED THE LIVE PRODUCT WITH TONS OF FUNCTIONALITY

SHOW US IF YOU HAVE ANY PROOF THAT THERE IS NO PRODUCT. PEOPLE CAN SEE THE LIVE PRODUCT IN TELEGRAM GROUP

That's really bad. They just clearly ruined their credibility and reputation in that way and I am thinking what scammy things they will do next using their project. Its clearly that it reflects the real motives of the team because of this incident.

If its live so it has working product so working product need money to develop the product.
However thanks for warning and with this we need to becareful more about scam ico and doing more research.

It's not ethical to drop the bounty. It's not fair to change the rules afterwards.

As I said before, it goes too far to call Sapien a scam.
My concern is that they raised too much fund without much proof of their ability.

You put forward serious accusations against the Sapien project, but so far, in addition to your unconfirmed words, I have not found any evidence that Sapien is a scam.

a very informative post will look into it I was looking at sapien network ico as a good one, I did not buy into the ico but I was supporting them spread the word by participating in the bounty campaign. I just hope it does not turn out to be a scam as the ico was successful in raising the hard cap.

I was told you don't have a proof for all your allegations, it is not that I am interested in investing in the project but this is one of the thing that happens last year when Qtum was conducting their ICO and FUD like this make me to miss out on a great return

I remember they claimed they have a working product.
It would be great if people can try it before crowdsale starts.

I dont know is it a FUD or no, i invested in sapien.network, the project looks solid to me and almost every ico is far from a working product so...

Is this true?
If they changed their terms as their wish, that is red flag.
I will keep a close look at their crowdsale.

Both newbies account above me just troll accounts. lol

A lot of bounty participant gets fucked due to the developer wants to pay worth 0.5% of the total allocation.

If you guys, try to defend your ICO and get paid some dollars for that and what a funny thing at this moment. A large team will provide excellent performance if you can combine it with enough proportion.

They have scam in their bounty program , they have reduced their share of 25,000,000 to 2,000,000 
Beware from those sapien

Thank you for warning, now there is a lot of fraud in the field related to the crypto industry. Many crypto projects where scammers.

Thanks for the warning. I will watch it and see what happens.
I have a reserve that this is not a scam, but I'm not sure.

Could you please share with us the ETH address of the smart contract to check those 20K ETH ? 

I will go that far to call it a scam, but I believe it is not worth that much.
Some college students wanna disrupt facebook? I don't think so.

I do not expect scam. It was a project I was very trusting about. I have recently been afraid of investing in ICOs.

I have kept wathing this project for a long time.
They have raised 20k ETH, but the momentum is clearly gone.
My main concerns are the team and the product. I guess I will just pass it eventually.

Where is the crowdsale contract located at ?

I did search, I looked at the hypothetical source code on github ( https://github.com/SapienNetwork/Sapien-Presale ), but there is no way to tell if this is the real contract as far as I know.
Plus, using only 3rd party services for everything in their site, does raise a very big red flag right away.

It looks like a scam, sounds like a scam and smells like a scam.


PS : 1000 shares for 2 comments on their facebook posts... legit !

EDIT : their bitcointalk topic full of bots : https://bitcointalksearch.org/topic/bounty-sapien-network-take-back-control-over-your-social-experience-2710218

When the next time you will write an article, and advertise your site, apply proof of what you write. I believe that your text is a lie, but I can not understand why you wrote it.

Thanks for the warning, to be sincere the idea do not appeal to me, but the most worried point here is the team, if their profile do not reflect that they are working on the project, this is a red flag for me.

Thanks for the warning! I will re-check this ICO!

Thank you for the warning. We need to be more careful. The bigger the market the bigger the frauds.

I actually made some investment in them regardless all the red flags not to say I wasn't aware. Please tell me one single ICO that came out clean without any FUD or red flags?? Even one good high rated ICO also can't get away from FUD.

I only invest in what I believe and do not invest amount I cant afford to lose.

Based on the following website, Sapien ICO may be a scam:
http://netcide.com/sapien-spn-ico-sophisticated-scam-not/

There are so many red flags:
1. The Sapien (SPN) ICO Compromised or missing escrow: Absence of an escrow account is the biggest red flag to look out for.
2. No technical details in the Sapien (SPN) ICO whitepaper: If an ICO promises to disrupt an established industry without providing any technical or operational details, it qualifies as a scam. Good whitepapers have charts, calculations, specifications, and even code at times. Look at the ETH whitepaper and you will find the difference.
3. For the more technically inclined, check whether the project’s code is open for scrutiny on github. I could not find Sapien on github.

This list can go on and on.

The Sapien team should come out and defend themselves - otherwise, I am inclined to think that Sapien ICO may be a scam.

It is good that you give us heads up about this scam. That is why it is vetter to research ico before joining in their bounties. There are really only few good ico now adays.

They keep saying accepting people in rolling basis for beta, but is there trully anyone accepted for beta or they just lying.

I was actually following this ICO and was going to buy some tokens, i did not analyse with such angles as you did, i think your red flags have some worth but i am sure the team will be more visible and communication will get better then your concerns will be gone, the only concern i found after analysing their details was high soft cap, i personally thought that huge funds are not required for this kind of project, but lets see what actually happens during the ico.

What the hell man ??

I just went to their website and check what you say

They have a product you just have to register in the white list ... wait a email... and you can try the beta. It's normal, they have to control their flow.

It can be a realy good project pin, private/public, messenger, message filter ... I sure this can be a alternative to telegram and steemit (did you realy read their WP ??)

It's not because 1 guy have a light experience that meen the team is bad.
Aurelien Nicolas the CTO had experience in Oracle company, and lovoo a social meeting (https://www.similarweb.com/fr/website/lovoo.com)
Stefan Ionescu was a consultant on blockchain
Christopher Lee was a Manager Marketing in Meural and Iboostify.

You don't need a huge team to create their project and still if they grow they can hire ... I know what I meen I got experience on create company

so please stop talking with your ass you will be nice  

and I will finish with your website ... and say 🤢🤢🤢 HAAAA my eye ... help me i'm blind 😵😵😵
your website look like a scam ... ho you see easy to fud ... pfff

http://scamya.com/
I vomited while watching this.

You need to put some links to prove what you are saying, actually it only looks like fud.

To show you how it is easy to lie here is an example : I used to meet SAPIEN's team few weeks ago, they showed me their office and gave me some confidential datas about the project, it will ne huge trust me...

Sapien network seems good although you base your argument according to what you think. But I think your wrong because they are working now. Maybe you just wait for the development of the projects. If sapien network is scam there will be massive thread in the forum.

The OP accusation is a strong accusation and of which we need you to proof that the so called Network is indeed a scammer but I hate the fact that the accuser was Newbie and the users claiming the OP was liar are also Newbie.

Could guys use your real account.

This is pure FUD, probably by somebody frustrated to not participate to the ICO and wishing to buy the tokens for cheap.

Many videos of the platform are on youtube and verified by trustworthy members of the crypto space.

Nothing to see here, except a troll.

You should be really frustrated or have something personal against that project to create a website with whois obfuscation, then an anonymous profile at Bitcointalk to say those lies.

First of all they have a beta and there are many videos with tests of the prototype on youtube, so there is a product.

Second on the bottom of the page there are legal terms which mention the company name located in Delaware. If you just moved you ass and went to the Delaware company registry you would notice the company exist under the registration number 6056342

Yeah Robert Giometti is a student and is the CPO of Sapien Network... they also have Aurélien Nicolas that worked at Oracle as security developer, and has an extensive experience.

If you where not a lazy big ass you were able to find answers to what you state there, and end up with "a team member is student and I prefer React.js than Meteor.js"

Many lies without any proof..
This topic need to be locked and delete. Some ppl can be follow this guy without verification. That's real fake FUD...

Interesting, How sapien comes with so many hype. But i'll try to make deeply research about that. But i just see on the sapien site the beta platform is live. But it looks against your argument about sapien has no product. basically ico try to raise money to support the product development. You must remember i'm not a sapien supporter.

Thanks for the warning. I will study the information in more detail. Sometimes too lazy to check everything carefully. Such posts are useful.

will check about that.. go to know that you share this kind of information, just in case some investor trying to put their money on this ico, please check first in your due diligence.

I'll read that. this is very interesting. Not every ico is a good ico. many ico just want to have btc or eth. then they disappeared. therefore it is good to read this. so you can even research if it is right

1. They have no product. They claim to have a product in private beta, but it's a lie. They just put you on a wait list, making you think they have a product.

2. They have no office address or phone number unlike legitimate ICOs.  They admit that they have no office.

3. Co-founder Robert Giometti is just a student according to his LinkedIn. He has no accomplishments and no business running a multi-million dollar company.

4. Even though they have an extremely small team with almost no developers, most team members do not list Sapien Network in their LinkedIn profiles. They are either fake, or they do not consider Sapien Network to be a full time job.

5. The white paper claims to use Meteor.js because it is the "recommended framework for decentralized applications." Meteor.js is mostly dead, as it was replaced with technologies like React.js and Vue.js. There is no recommended framework for decentralized applications.

6. They hired people from low wage countries to join their Telegram chat to talk excitedly about Sapien. These are not real investors, they are paid pumpers.

http://scamya.com/