Topic: Oyster Pearl just scammed us - page 8. (Read 6639 times)

This really sucks. I didn't even participate in the first airdrop for PRL itself, those lucky people, and now this.

As if the bear market isn't bad enough. Let's hope for the best though.

FUD !!!!
DON’T BELIEVE THESE GUYS
THIS IS A COPY FROM REDDIT.

https://www.reddit.com/r/Oyster/comments/895bm2/clarification_on_snapshot_movement_and_dev_funds/

Dear Oyster Community,
Given the events of today and in the sake of transparency, we wanted to address the community around a few controversial items and make sure everyone was aware of where things stand.

SHL Airdrop – This delay was quite unfortunate. We received word that we were moving forward with April 13th this morning and posted the news within our Medium post shortly thereafter. We originally reached out to KuCoin in mid-February around collaborating on this event and unfortunately things dragged out much further than we would have like. After hearing back from the KuCoin team this morning, April 6th posed a threat to KuCoin’s ability to participate in the airdrop and noted that April 13th would provide enough time for the team to be comfortably prepared for this event. We realize there is some disagreement within our community on making this decision but we view KuCoin as a strong business partner and believe this is the best path for SHL’s long-term success. With KuCoin supporting the airdrop, we believe that our odds of eventually trading on the platform have improved exponentially. Without their support, we would have limited options in the way of exchanges to provide our investors liquidity, which is particularly critical to establishing value for an airdropped token. We wish we would have been able to accomplish this all by April 6th but we had to make the decision to push back the snapshot date in the best long-term interest of the project.

Wallet Movement – As announced earlier today, we moved 6.7M from the main wallet to one of our holding wallets. These funds cover a wide variety of items, including (but not limited to):

• Long-Term Incentive Comp for Management

• Operations (salaries, services, marketing, PR, software, etc.)

• Other One-Time Items (listing fees, project-related fees, etc.)

As we have committed to quarterly movements (originally, at the behest of the community to provide better clarity around changes to our main developer wallet), we tend to over-estimate our funding need and envision that we will not need to move or sell that amount in order to raise any necessary funds. Given the volatility within this space, we would prefer to be conservative there than potentially underestimate a funding need due to near-term selling pressure.

Unlike traditional ICO’s, the Oyster team is not sitting on a treasure trove of funding that provides cash runway for years to come. We need to continuously raise funding in order to keep everything in motion and unfortunately that means we need to occasionally sell PRL into the market. As a business (and as the only individual selling PRL in the company’s name), we go out of our way to ensure any sales we do ultimately make have no significant market impact and never “bully” the market. We realize the timing of the wallet movement with the airdrop delay announcement was a poor look optically but this has been publicly stated since mid-February. Any allegations of impropriety leading up to the SHL announcement are without merit.

Regardless, we apologize for a tumultuous series of events and any near-term volatility that may have occurred as a result. We are supremely confident in the near and long-term vision of the project and hope all within our community feel the same way.
Thanks,
Bill (CFO)

Be careful with these coins under top 30. I remember with prl were problem on their bounty distribution.

Never trust an anonymous project.  There is a reason he is hiding himself.  It's so you and the law don't go after him once the scam is obvious to all.  It seem there may still be a few blind followers protecting the cause.

Oyster is based in the United States.  May be a good idea to contact the SEC if anyone lost a lot of money.  You know they are chomping at the bit to to be in the middle of crypto.  This one seems so bad that maybe they would step in.  May not save you but will help out others from falling for such tactics.  

They are completely caught in the lie. 

This is a very unfortunate situation and brings a bad reputation to the cryptocurrency world.  Projects can make so much more money the legit way if they had good intentions on developing the project instead of scamming the community this way.  This is another reason not to invest in anonymous team projects.

Only about 13 BTC till 0 (kucoin prl/btc).  There is no one buying and those sell walls are huge.  That must be the dev teams attempt to dump.

I have checked out the chart in Kucoin of PRL and do really see some serious dip on the price seeing those red candles but I don't know if those tokens are the part of 700k or just those conventional traders did dump their PRL because of this FUD? This isn't a shitty project and I can really able to say such thing.If devs tend to dump their token holdings then price would majorly affected.As of now I don't see an abnormal price decrease.Its just minimal.

Huge sell walls happening on Kucoin.  I guess the explanation with didn't pan out.

Very surprising they were telling everyone the airdrop was 99.99% when they were still in negotiations.  Looks like the memo the team put out skipped that part.

I don't doubt trading on insider news took place.   Lying scum.  Sorry to all the investors who got caught in the lie.  

They needed 6 million for expenses for this quarter.  OMFG  That looks bad considering they only had 30 Million in the Dev wallet.  Money is burning out of control. 

Your just jealous you didn't get in early to a good performing project

Stop the fud.
Not true at all.
The team explained everything so don’t spread lies.

Yup they just moved dev funds to Kucoin for fun.  LOL

https://etherscan.io/token/0x1844b21593262668b7248d0f57a220caaba46ab9?a=0x6664650f564a4cb65abeadce4b84b81bd9a570b7

Don't fall for it guys.  They are dumping on the buyers. 

They have a core group of about 20 fan boys that will try to sell you anything.  Go read the telegram from 4PM on and see if they gave any real answers for yourself.  Take note on all the dodged questions (provided they didn't censor them)

this is FUD guys"!!!!!

I was also in the telegram and couldn't believe what I was reading.

First they dodged every real question.
Then called us names.
They provided not 1 shred of evidence about any of this.

When they droop the rest of the 700k watch out below.  That's not even considering the other 5+ million they withdrew.  Appears as if operations are running a bit expensive.

Wow Oyster Pearl just made a statement and answered nothing.

They have been telling us for the last weeks the airdrop is being supported 99.9% and now the project lead says they been negotiating for 6 weeks and having issues communicating with Kucoin.

Then the project lead called us a bunch of chickens in telegram.  LOL

Low class scam project.

https://t.me/oysterprotocol/287453
https://t.me/oysterprotocol/287587
https://t.me/oysterprotocol/287622

This is a very bad news, because I think that this is a good and honest project, and they turn out to be dishonest. Shitteam

Yeah
Why people invest in anonymous projects?

Ugh.  I believed in this project so much.

I will never trust a project where the leader remains under cover.  I'm realizing now why he remains behind a mask.  These projects (aside from bitcoin) never work out where the main leader hides his identity.  I feel silly now for falling for this one.  

The scary thing is he took 6 million out of the dev wallet.  So there is going to be huge pressure on this thing for a good long while. 

Is this FUD or real? Cause if it's real, that's sad. I myself was considering investing in this but just never pulled the trigger.

This is always a risk with these new projects and icos, it may not be scam but it is a fact that the team and owners that hold their portion of tokens can dump them anytime sooner or later effecting the price badly.

That sucks, but I never really trusted those guys.
Scammers are gonna scam.