Scam oyster PRL - page 2. | Bitcointalksearch.org

CryptoAssasin

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Activity: 308

Merit: 4

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Quote from: ciacio84 on October 30, 2018, 05:05:27 PM

The price was pumped in the last month of 400% .... to sell the 3 million token at a good price ... Bruno can not have done everything by himself ..... it's a scam organized by more ' people

In my opinion the whole team is involved ..... but they put the blame on the anonymous Bruno

I am really surprise on the pump of PRL at coinmarketcap when it reaches +1,609.62% as I type in this message. I immediately check those links at coinmarketcap and confirmed the issue. Coinsuper also decided to immediately suspend deposits, withdrawals and trading for PRL to minimize the scam. I agree with your statement, the whole team is involved to this or maybe only part of them and using "Bruno" to hide their shady business. This altcoin is doom and will surely be dumped hard by their investors and holders. Trust is cryptocurrency is the real deal and this type of drama is nothing new when scamming their investors.

TheReverend

full member

Activity: 462

Merit: 100

is there any evidence, if it's not there and you just say it unilaterally then that hasn't been proven.
in my opinion if indeed that happens then it is very unfortunate because the PRL coin has been released long enough and cooperated with one of the big coins.

Bowtiesarecool

sr. member

Activity: 1050

Merit: 295

Quote from: Juxy on October 31, 2018, 09:10:06 PM

Quote from: Bowtiesarecool on October 30, 2018, 06:57:05 PM

Completely baffles me how they could have overlooked that mint function despite having their smart contract audited thrice. Either the companies that audited the contract are grossly incompetent or there's a collusion somewhere.
Don't know which is more terrifying.

Stealing this from here. But...

From their official response here : https://medium.com/oysterprotocol/oyster-update-b813390ce10e

Or more so this quote :

Quote

Despite Oyster passing three separate smart contract audits, we were told by Bruno Block, the original founder and chief architect of the project, that the directorship of the token contract had to remain open so that the peg could be adjusted over time.

It's clear they actually knew that the minting function existed, but were told by "Bruno" that it was necessary to keep it there. So essentially three times, they were probably told that this minting function was dangerous but were told by the architect to keep it (Who then stole 300k USD worth of tokens).

Working all these months with an anonymous founder is bad enough. However, it still doesn't explain the motives behind someone wanting to sabotage their own project when the evidence can easily be traced back to them.

luongdk

full member

Activity: 686

Merit: 102

Thanks god I didn't buy prl token last week... I saw problems with PRL on idex, they announced to delist PRL or stop trading for a while, but I didn't know real reason for it.
Now it is clear for me.

Juxy

newbie

Activity: 10

Merit: 0

Quote from: Bowtiesarecool on October 30, 2018, 06:57:05 PM

Completely baffles me how they could have overlooked that mint function despite having their smart contract audited thrice. Either the companies that audited the contract are grossly incompetent or there's a collusion somewhere.
Don't know which is more terrifying.

Stealing this from here. But...

From their official response here : https://medium.com/oysterprotocol/oyster-update-b813390ce10e

Or more so this quote :

Quote

Despite Oyster passing three separate smart contract audits, we were told by Bruno Block, the original founder and chief architect of the project, that the directorship of the token contract had to remain open so that the peg could be adjusted over time.

It's clear they actually knew that the minting function existed, but were told by "Bruno" that it was necessary to keep it there. So essentially three times, they were probably told that this minting function was dangerous but were told by the architect to keep it (Who then stole 300k USD worth of tokens).

abstractednerve

hero member

Activity: 752

Merit: 500

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Are you sure about it? Because Oyster PRL seemed a good project with higher ambition. If it really scams then investors should take action against the admin and CEO of Oyster. I am not sure but maybe I saw their office address on their website!

kolonel_x

sr. member

Activity: 1092

Merit: 250

I saw yesterday that PRL was deleted on the idex market, maybe everything will be fine. Let's just wait how later the dev performance if PRL is really just a smart contract is corrupted.I hope everything is fine

o_e_l_e_o

legendary

Activity: 2268

Merit: 18697

They were revealed to be a complete scam months ago when they dumped on the market: https://bitcointalksearch.org/topic/oyster-pearl-just-scammed-us-3243495

Why would anyone still be invested in this obvious scam? You either haven't been paying attention to the news about what your are holding, which is stupid, or you did pay attention and you chose to ignore it, which is even more stupid. If you can't keep track of what's happening with the all the coins you own, then you own too many coins. If you ignore all negative news as "FUD" then you are overly emotional with your coins and you probably shouldn't be in crypto at all. You need to be able to weigh up all the information and news, good or bad, and make an informed decision. They scammed before, so why wouldn't they scam again? You either didn't know or didn't care. Either way, that's the wrong mindset to be in crypto.

Worth pointing out that Substratum has the same vulnerability in its smart contract. They can create a ton more SUB out of thin air any time they want and dump it on the market. They also still have access to supposedly "burned" coins - they never burned them at all, just transferred them to another wallet which they promise they won't use: https://etherscan.io/address/0xd41d37f9865cc121f71957e6eafb09cbdc98d6c3#tokentxns

Bowtiesarecool

sr. member

Activity: 1050

Merit: 295

Completely baffles me how they could have overlooked that mint function despite having their smart contract audited thrice. Either the companies that audited the contract are grossly incompetent or there's a collusion somewhere.
Don't know which is more terrifying.

Mavzi

newbie

Activity: 194

Merit: 0

Let's wait for tomorrow and official announcement from PRL team or announcements from top exchanges... I guess PRL is not a scam.

ChiNgadOr

sr. member

Activity: 1680

Merit: 278

I warned about this yersterday... https://bitcointalksearch.org/topic/caution-prl-hack-dont-trade-with-prl-until-solved-5059615
it seems an inside job..

makes me remember the great and honest Michael Stollaire from Titanium... when suddenly "someone" stole half of the supply and sold BAR at market price.. from 3,81$ to 0,000000000$ in no time. hope he is rotting in jail

ciacio84

member

Activity: 258

Merit: 11

The price was pumped in the last month of 400% .... to sell the 3 million token at a good price ... Bruno can not have done everything by himself ..... it's a scam organized by more ' people

In my opinion the whole team is involved ..... but they put the blame on the anonymous Bruno

cuenzy

full member

Activity: 532

Merit: 103

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Quote from: demenBTC on October 30, 2018, 03:04:47 PM

Quote from: ciacio84 on October 30, 2018, 09:06:41 AM

Yet another scam of the world crypto oyster is a scam ... the dev sold for $ 300,000 of Prl and ran away with the money ...

It seems that this is not fraud as you mentioned, they are still there and running as usual, oysters only have a price reduction of up to 24%, the statement on this blog might be clearer for you to see https://oysterprotocol.com/oyster-update/

Yes it clearly says that it's an inside job by the creator himself. Too bad he didn't do it when the PRL was at its peak price. If then happened it will go haywire and turned back millions of $. I wonder what does he thinking.

Zadicar

legendary

Activity: 1386

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Quote from: ciacio84 on October 30, 2018, 09:06:41 AM

Yet another scam of the world crypto oyster is a scam ... the dev sold for $ 300,000 of Prl and ran away with the money ...

One of its developers had backdoored and using up the contract to snipped out PRL without getting the KYC restrictions on Kucoin.His name is Bruno as far as I remembered.
Its either this incident is fully the truth thing or just an another assuming hacking incident with some mix of inside job.Who knows the possibilities?

sergiorus

sr. member

Activity: 840

Merit: 262

it is still has $4.5M+ marketcap which is not so bad. Hence I doubt it is scam. Maybe their smart contract has been hacked or something like that. Maybe someone from dev team has tried to steal all the coins. Idk but I don't believe it is scam for now

PHI1618

legendary

Activity: 1554

Merit: 1334

I think someone from the team made changes to the smart contract. And thousands of millions of unrequited tokens. These things can happen to every project. If one of the team becomes a fraud, the whole project is affected. It can enter non-return roads. The most important thing in the project for this is team team team...

demenBTC

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Activity: 742

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Quote from: ciacio84 on October 30, 2018, 09:06:41 AM

Yet another scam of the world crypto oyster is a scam ... the dev sold for $ 300,000 of Prl and ran away with the money ...

It seems that this is not fraud as you mentioned, they are still there and running as usual, oysters only have a price reduction of up to 24%, the statement on this blog might be clearer for you to see https://oysterprotocol.com/oyster-update/

Kruncha

sr. member

Activity: 644

Merit: 250

All projects that need money are normal. In the end, we need workers and money for project development.

sockpuppet1911

sr. member

Activity: 994

Merit: 278

Now would be a great time to ditch that godawful brand/image/name/logo and rebrand to something sexier.

Raja_MBZ

legendary

Activity: 1862

Merit: 1505

Quote from: Crypto_lion on October 30, 2018, 01:08:18 PM

Quote from: ciacio84 on October 30, 2018, 09:06:41 AM

Yet another scam of the world crypto oyster is a scam ... the dev sold for $ 300,000 of Prl and ran away with the money ...

It has not been proven that it is a scam.All we know is that there was a big in the smart contract and it was exploited.The team has put out a blog explaining it.

The rest of the team is trying to make things better, but it'll take a hell lot of work.

A tweet that illustrates what the founder (main/anonymous developer) exactly did:

Huh...

Topic: Scam oyster PRL - page 2. (Read 8967 times)