Justin caught red-handed cheating on Binance staking event

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Quote from: livingfree on May 02, 2023, 07:26:42 AM

No jail time I guess but it's Binance should take action like banning him from any of their features and disabling his account.

Banning him will be a blunder for binance. Justin can be considered as a guy with tremendous influences. taking wrong step will be only destroying the reputation that is owned by binance exchange site. I can even imagine once justing was taking legal action against binance since disabling an account without inappropriate reason leads the reputation of exchange site to be destroyed.

Binance considers there will be so many consequences by banning him from the exchange site. There will be so many people will be also taking legal action or withdraw their money from binance.
I can't agree if binance to ban justin. He has not made any mistake.

dunfida

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Quote from: Taskford on May 03, 2023, 08:22:28 AM

Quote from: livingfree on May 02, 2023, 07:26:42 AM

No jail time I guess but it's Binance should take action like banning him from any of their features and disabling his account.

I doubt it that it's actually his team that manages his finances. Yeah, he may be big but who on Earth will allow his people to use his account with balances he's got freely? I doubt that there will be.

I just hope that Binance won't give way to the whales with this feature of theirs and hopefully, they're also strict on their own people taking advantage of it.

Yeah right although its cheating this is not enough ground for this guy to get in jail just because of this reason. The only thing binance can do with this is do what you suggest since banning them is proper way to show to their community that they are not tolerating cheating into their platform. But the question there is can CZ afford to ban Justin Sun knowing that this guy can bring good profits on their platform if they continue to trade or do transaction using their platform.

There's no violation nor really crosses out the border line in speaking about legal issues which it isnt really just that right if we do have that imprisonment which it isnt really that enough reason on doing so.
The thing he had done on here though did really make out even more bad impression to Justin which it is really that too bullshit to consider on entrusting out lots of money on an intern.

It is really just that kind of reasoning is never been that convincing in the first place. Second, trying out to cheat on SUI airdrop on putting up his baghold is never been ethical in the first place.
Good thing that Binance didn able to detect it out and find on whose the owner of such wallet. If ever this wasnt caught then for sure they would be laughing out
and making some easy profits on SUI drops.

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Quote from: livingfree on May 02, 2023, 07:26:42 AM

No jail time I guess but it's Binance should take action like banning him from any of their features and disabling his account.

I doubt it that it's actually his team that manages his finances. Yeah, he may be big but who on Earth will allow his people to use his account with balances he's got freely? I doubt that there will be.

I just hope that Binance won't give way to the whales with this feature of theirs and hopefully, they're also strict on their own people taking advantage of it.

Yeah right although its cheating this is not enough ground for this guy to get in jail just because of this reason. The only thing binance can do with this is do what you suggest since banning them is proper way to show to their community that they are not tolerating cheating into their platform. But the question there is can CZ afford to ban Justin Sun knowing that this guy can bring good profits on their platform if they continue to trade or do transaction using their platform.

livingfree

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No jail time I guess but it's Binance should take action like banning him from any of their features and disabling his account.

I doubt it that it's actually his team that manages his finances. Yeah, he may be big but who on Earth will allow his people to use his account with balances he's got freely? I doubt that there will be.

I just hope that Binance won't give way to the whales with this feature of theirs and hopefully, they're also strict on their own people taking advantage of it.

yhiaali3

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On the one hand it can be said that whales are competing for prey, well small fish can pick up the crumbs!!!
On the other hand, if whales are competing for the SUI token, that means it will be very valuable.

DaCryptoRaccoon

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Win from Binance and retail if you ask me.
Far too much of this stuff going on glad Binance took a stand on this and outed it.

On the other hand now SUI know JS was possibly looking for a big stake of the tokens so who's to say they don't OTC something to him now knowing he is "after a bag"

vv181

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Really, does everyone forget already his hostile takeover of Steem? Fortunately, Binance learns from their mistake and might have learnt Justin Sun's motive from the Steem problem. Surely, their due diligence may make them take a cautious stance toward whatever Sun are doing.

Transparency due to public blockchains help, and CZ resonates it also boosts the community to closely look at what his doing this time.

Quote from: dimonstration on May 01, 2023, 06:23:42 AM

a mere intern.

Is it though? Where I can find the source?

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Quote from: stompix on May 01, 2023, 07:26:29 AM

Quote from: dimonstration on May 01, 2023, 06:23:42 AM

Luckily blockchain is transparent which record all the shady transactions of con artist like justin. When jail time to this guy?

For what?
As far as I understand he moved some tokens to get a bigger pie of an airdrop in which you receive tokens based on your holdings, right?
CZ comment is the one stupid here, Justin did in this situation exactly what blockchains were designed to do, allowing everyone to move how many coins they want where they want, it's actually Binance that is going against these principles by dictating in a commie way how much you're allowed to get, ignoring the actual balances.

He is cheating on the Binance launchpool. He is on the partnership for the event to promote his TUSD by allowing TUSD to be stake in exchange for the reward token. They have an agreement that they will not participate on it and leave retail and other holder that doesn’t part of the team.

Simply he is cheating his own giveaway by staking his own token that is not allowed as part of the agreement. In simple term, He join on his own giveaway while he holds the majority of the ticket for receiving the prize pool.

Quote from: stompix on May 01, 2023, 07:26:29 AM

Quote from: dimonstration on May 01, 2023, 06:52:54 AM

I’m pertaining to all his previous action of price manipulation. Also the issue here was he is partnered on this particularly launch pool event which means he is not allowed to participate since he literally controlled the majority of the supply of TUSD tokens.

So much for decentralization, so you're not allowed to participate if you own more than x, and you have a reason why that should be?
Next step, no more transactions over 0.001 satoshis are allowed, coins should be for the masses, not for whales, right? Wink

Again not this one. His holdings is not a problem but he is the one who partner to Binance in able for TUSD accepted on staking. It’s cheating at its finest.

Bitstar_coin

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The Urge to farm sui is too big for Justin Sui to ignore Grin

Imagine the amount he brought to terrorize other poor binance launchpad farmers, the guy is clearly taking advantage of his position to accumulate more sui.
This just shows how hard Sui may likely pump and unfortunately am not gonna enjoy this opportunity. Sad

NotATether

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Quote from: Igebotz on May 01, 2023, 07:12:23 AM

Could someone please explain in one sentence how this is relevant to Bitcointalk? Shouldn't this post be in the altcoin board or something? Is this Justin a member of this forum

Sure:

"Breaking News: Whales Fight Each Other For Scraps" Grin

Yamane_Keto

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Quote from: dimonstration on May 01, 2023, 06:23:42 AM

Luckily blockchain is transparent which record all the shady transactions of con artist like justin. When jail time to this guy?

If third-party analysis and stricter regulatory restrictions happen, Justin won't be the only one in prison, CZ will be first on that list.
People should learn that investing in these stablecoins is dangerous, let alone a currency that is managed by someone who has a long history of scam activities.

Quote from: dimonstration on May 01, 2023, 06:23:42 AM

Justin on the other hand post a silly explanation that his team is the one controlling his wallet which is a joke since the person that he wants to put a blame is a mere intern. An intern that has an access to his million of dollar funds is a big joke

This is an additional reason to stay away from investing in that currency, imagine this is the way he deals with his wallet.

Why the hell is this board, does Justin Sun have a Bitcointalk account?

Quote from: T3PR00T on May 01, 2023, 07:33:09 AM

Service discussion seems more appropriate for the topic since it's about Binance launchpool, CZ owns Binance and Justin's contract with Binance.

OR Scam Accusations

T3PR00T

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Quote from: Igebotz on May 01, 2023, 07:12:23 AM

Could someone please explain in one sentence how this is relevant to Bitcointalk? Shouldn't this post be in the altcoin board or something? Is this Justin a member of this forum

Service discussion seems more appropriate for the topic since it's about Binance launchpool, CZ owns Binance and Justin's contract with Binance.

stompix

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Quote from: dimonstration on May 01, 2023, 06:23:42 AM

Luckily blockchain is transparent which record all the shady transactions of con artist like justin. When jail time to this guy?

For what?
As far as I understand he moved some tokens to get a bigger pie of an airdrop in which you receive tokens based on your holdings, right?
CZ comment is the one stupid here, Justin did in this situation exactly what blockchains were designed to do, allowing everyone to move how many coins they want where they want, it's actually Binance that is going against these principles by dictating in a commie way how much you're allowed to get, ignoring the actual balances.

Quote from: dimonstration on May 01, 2023, 06:52:54 AM

I’m pertaining to all his previous action of price manipulation. Also the issue here was he is partnered on this particularly launch pool event which means he is not allowed to participate since he literally controlled the majority of the supply of TUSD tokens.

So much for decentralization, so you're not allowed to participate if you own more than x, and you have a reason why that should be?
Next step, no more transactions over 0.001 satoshis are allowed, coins should be for the masses, not for whales, right? Wink

Igebotz

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Could someone please explain in one sentence how this is relevant to Bitcointalk? Shouldn't this post be in the altcoin board or something? Is this Justin a member of this forum

dimonstration

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Quote from: T3PR00T on May 01, 2023, 06:48:43 AM

Quote from: dimonstration on May 01, 2023, 06:23:42 AM

Luckily blockchain is transparent which record all the shady transactions of con artist like justin. When jail time to this guy?

There are no term to jail for it.
The whole launchpad/launchpool is designed for whales. If you are filthy rich then you can have more share.

I’m pertaining to all his previous action of price manipulation. Also the issue here was he is partnered on this particularly launch pool event which means he is not allowed to participate since he literally controlled the majority of the supply of TUSD tokens. This is a breach of contract between Binance and him which CZ stated on his recent post.

If Sun do this on small giveaway, I’m sure he is doing far worst than this with his scam USDT and other project that he has involvement.

T3PR00T

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Quote from: dimonstration on May 01, 2023, 06:23:42 AM

Luckily blockchain is transparent which record all the shady transactions of con artist like justin. When jail time to this guy?

There are no term to jail for it.
The whole launchpad/launchpool is designed for whales. If you are filthy rich then you can have more share.

dimonstration

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Dimon6969

Binance team detected Justin Sun trying to cheat Binance launchpool event of SUI tokens using his TUSD. The launchpool event partners Justing since Binance allow TUSD to stake and earn SUI tokens which basically trying to cheat with his huge bag of his own token.

Quote from: https://twitter.com/cz_binance/status/1652949031524376579?s=61&t=KvAyBeyzVhJJLph8n5IBkg

Our team told Justin, if he uses any of these to grab the LaunchPool Sui token, we will "take action against it". SMH.

Binance LaunchPool are meant as air drops for our retail users, not just for a few whales.

On the bright side, blockchains are transparent...

Justin on the other hand post a silly explanation that his team is the one controlling his wallet which is a joke since the person that he wants to put a blame is a mere intern. An intern that has an access to his million of dollar funds is a big joke. The community bash him for this.

Quote from: https://twitter.com/justinsuntron/status/1652954970000617474?s=61&t=KvAyBeyzVhJJLph8n5IBkg

Regrettably, some of our team members were not fully aware of the intended purpose for these funds and inadvertently used a portion of them to participate in exchange campaigns. Upon realizing this error, we immediately contacted the exchange team and arranged for a full refund of the funds.

Luckily blockchain is transparent which record all the shady transactions of con artist like justin. When jail time to this guy?

Topic: Justin caught red-handed cheating on Binance staking event (Read 146 times)