Topic: 🕵️‍♂️Student Coin Team are Scammers in Disguise, Refused Paying Hunters Reward (Read 1528 times)

Why would you care, you didn't participate in the bounty.

Too bad, very disappointed   
No reply till now

The problem with that though is that not everyone has the time to research plus most bounties look promising and legitimate at first so it's really hard to find if it is a legitimate bountry or not.

Before joining any bounty, it is the responsibility of the participants to find out the details of that bounty project. Because, most of the bounties fail and without paying the bounty hunters, those projects remain in the market without any hassle.

The bounties that a reputed manager brings are little more guaranteed to get paid for those bounties payment. So these things should be kept in mind before joining any bounty.

You won't trust them again if they did something bad to you and I am pretty sure that not everyone could've seen it coming because there weren't any active accusations about Student Coin before they did the dirty deed. That's why a lot of people have been staying away from Bounties lately, there is only a few good left bounty campaign anymore.

I understand Bakasabo's point is from the project side. In addition to wasting marketing time, of course, a waste of funds. I'm not sure even 1% of the hundreds to thousands of bountydetective's social media bounty participant accounts have caught the attention of their followers.
Social media has turned into a space for scammers, people are starting to doubt investment requests from others on social media.
Social media only moderates advertisements (and even then it is doubtful), but does not moderate posts.

I agree with the members above that if a project wants to pay for good quality promotion, avoid social media campaigns. Unless they just want quantity, or basically want to avoid paying like this is the case.

Social media bounty campaigns is not really waste of time but selection of participants should not be first come first serve but moderated just like the ways signature campaigns are run by choosing the most active and responsible participants. Cheats and spammy posts are always found on bounty campaigns which should not be so. Also penalty should be given to people that failed to adhere to the rules of a bounty campaigns not just deciding not paying them.

Never seen social media campaign, that asks to do retweet/tweet/share/post once a week.
Perhaps you are right, maybe some social media campaign hunters could attract someone, but I really doubt that. Check any social media hunters account for his followers and friends - hard to see "not a hunter" among them. I havent seen a single bounty hunter buying projects altcoin. I will stress on bounty manager must be more selective while choosing participants to the campaign. Take first 200-400 is not the best option to select participants.

You can't generalized it, it could still attract investors as not all participants are doing that, taking that away is a bad idea, maybe just decreasing the reward would help as the job is too easy, some projects just require a once-a-week tweet and share the task.

Signature campaign might help a lot as some investors are here in the forum looking for projects to invest.

Projects simply should stop running social media bounty campaign, because it is total waste of money. All the information is shared among one and the same people. Most of twitter followers are fake and #followback accounts, all facebook friends are fake/bounty hunters/those who will never invest. LinkedIn - I think this is not even a place for bounty. It just just combines same lazy and greedy hunters from facebook and twitter campaigns.

Instead of social media bounties, projects would better use same budget to add an article on popular news platform or put a banner for a week somewhere.

Let's take a look at your actual contribution to the bounty, shall we? Here's your signup post:


What did it used to say?


Most of your Reddit posts get removed because they are copy/paste spam:

https://www.reddit.com/user/Abubakar56

Twitter, more copy/paste spam with an average of 0.2 Likes per post:

https://twitter.com/Issa93363656

I don't even know why people even bother holding bounties for LinkedIn.


FWIW, you're not a cheater, as far as I can tell, just lazy and greedy, which is par for the course.


Bounty Detective made 5 ETH from this bounty. They still win even when their participants lose.

Nobody should be hiring Bounty Detective to run their bounties, unless they want low-quality work with the chance of being extorted.

Oh yeah, that standard story about "hard work" which in reality consists of 5 minutes per week for tweets, and a little bit longer than that for paraphrased or text spinned article. That of course doesn't mean that they shouldn't be paid for the work done, but they should stop kidding themselves that what they do is hard, or that is crucial for project's success.

It is always funny to read how hunters that just add hashtags while doing 5 weekly retweets complain more than others or say “we work hard and must be paid”. If you ask that kind of hunters what is the project about that he promotes, with 99,99% probability he wont answer instantly and say “lets me check wp or give me 5min”. How long was that bounty? 12 weeks? 12 week * 5 retweet * 1min max for task to be done = “we worked hard”

I see, thanks for explanation. So he picked up the number that fits his little narrative the best



This part of the conversation (in the screenshot below) says much about bounty manager, and that his client's interest is very low on his priority list. Despite huge amount of bounty hunter's work being rejected, he insists that bounty pool is fixed and that it shouldn't be adjusted. To me that doesn't make any sense, and generally this stake system is seriously flawed unless bounty pool is can be adjusted, depending on the amount of bounty hunters that did proper work. Unless you adjust it, you end up with someone getting 10k USD for a lousy article and that is just wrong, imho.





Those altcoin teams obviously have no clue about bounty campaigns, since they are willing to allocate such a huge amount for bounty campaign. Bounty managers probably promise them thousands of quality bounty hunters and that's how they persuade them to allocate unrealistically high amount.

As with everything else in this accusation, the $70 million figure is out of context. $70 million is the peak value of the ICO proceeds at ETH's highest price.

The ICO had a hard cap of $21 million which was raised well ahead of deadline. It concluded on April 23 or 24, but then the team extended "bonus funding rounds" which apparently brought the total raised to "above $50 million" by May 1st. The price of ETH (most of the funds were raised in ETH) went up almost a thousand dollars between May 1st and May 8th.

https://micky.com.au/student-coin-ico-hits-50-million-in-70-days-what-is-behind-the-hype/

On May 25th, the day this thread was opened, ETH had retraced back to its May 1st price. That means the ICO amount was $70 million only at ETHs peak.

Regardless, without posting the contract contents between the coin team and the bounty manager, this just looks like an extortion attempt to cash in on a successful project.

Clearly Bounty Detective was hoping to use sympathy from the Bitcointalk community as leverage (that idea already sounds stupid as I type it) for what appears to be an extortion scheme.

Coin teams need to pay more attention to the quality of work that precedes the bounty manager's reputation if they want to avoid issues like this.


I would pay zero attention to what a bounty manager says and 100% attention to what they have demonstrated they can do.

Hah yeah, you are probably right. It still baffles me how bounty hunters (and Dave here is not an exception but a rule, I saw that before ) think that they are somehow crucial for  altcoin project's success while in reality their reach is almost non existent. I can't imagine anyone reading some poorly written Medium article and then deciding to invest.

To be fair, "Dave" here doesn't think. I'm pretty sure the wall of text was copied from some telegram thingy or wherever BountyDetective AKA Vispilio posted that shit.

C'mon man, you really think that because of bounty hunters activity Student Coin managed to raise $70 million? Out of curiosity, I decided to check your Twitter and work that you done for Student Coin Bounty, so here are few examples of your tweets:
https://twitter.com/okocha_chika?s=08



Your whole Twitter history consists of similar tweets; few tags and link of the original tweet. Despite having more than 10,000 followers, the only likes you were getting for these tweets are your own (LOL), so what kind of reach are we talking about here? No one liked/retweeted/commented on your tweets, yet you claim that bounty hunters like you had  main role in Student Coin raising $70M. For that work you were supposed to get ~64,000 tokens that are currently worth ~$960. Insane amount of money for such subpar work and non existent reach.

For that amount of money (200 million STC currently worth $3M) Student Coin could have hired some top tier Twitter/YouTube influencers and pay for professionals writers with the real reach, so no wonder that when they saw the work, they dramatically reduced the bounty pool.

Don't get me wrong, it sucks that bounty hunters keep getting scammed over and over again, but you should really consider some due diligence before joining bounty campaign. You see campaign with inflated bounty pool like in this case? Instant red flag, as simple as that!

A HIDEOUS CRIME CARRIED OUT BY A CRYPTOCURRENCY COMPANY CALLED STUDENT COIN

On the 29th of January 2021, the core team of Student Coin reached out to a promotion agency called Bounty Detective to carry out a promotional campaign on their behalf. The Student Coin core team agreed to pay 200 million STC tokens worth then $1 million to the Bounty Promoters two weeks after the promotional exercise ended. The exercise was designed to last for 12 weeks and spanned across various campaigns such as Social Media Campaigns, Translation Campaigns and Video Campaigns to mention a few.



The essence of a promotional exercise is to create awareness and to orientate investors on the intricacies, activities and objectives of a cryptocurrency project. Upon the successful orientation, the investors can decide to participate in the Initial Exchange Offering for the purpose of financially supporting the project. The Investors are rewarded with tokens at an affordable rate with the intention of reaping profit when the token gets listed in a stock exchange and appreciates in value.



Bounty Detectives promoters diligently engaged in this exercise and raised $70 million for the Student Coin Company, again the promoters’ efforts attracted more than Twenty Eight Thousand Community members to the Student Coin Community group. These members were investors.



Bounty Detective is a medium scale company that is global in nature. Its core team has less than ten staff but more than Two Hundred thousand active promoters. The team is predominantly based in Europe and Asia. Bounty Detective receives promotional offers from accredited Cryptocurrency Companies. Upon the conclusion of a contract; the team presents the job to its community members who apply to work for a stipulated duration of time. The team is compassionate, diligent and truthful to its community members and prioritises their welfare and safety above anything else.



Student Coin on the other hand is a project that comprises of more than 500 Universities under its umbrella. These universities consist of Harvard University, Stanford University, University of Warsaw, New York University, Imperial College University and Kozminski Universities to list a few. They are also available in 36 countries. The genuine purpose of the Student coin project was to enlighten undergraduate and graduate students on the essence and intricacies of the Cryptocurrency market, Cryptocurrency exchanges, Decentralized Finance and Blockchain technology. Student coin also aimed to teach students about personal finance, allowing them to trade, invest and learn about digital assets. The Student Coin core team proposed to build the globe’s largest educational database.

 

THE PROBLEM

The Student Coin core team approached the Bounty Detective Company to execute a promotional exercise on their behalf. This was the second campaign the Bounty Detective (BD) core team was conducting for Student Coin. The first Campaign was conducted last year and upon the successful completion of the first campaign and the tremendous result achieved, the Student Coin Core team decided to run a round two promotional campaign which was grand in nature. The payment for the first campaign was successfully distributed to the Bounty Detective’s participants in their respective wallets and there was no cause for alarm; everyone went home smiling.

 

During the aggressive promotion for the round two promotional exercise, the STC digital asset appreciated from $0.005 per token to around $0.07 per token. It was clear that the promotional exercise was yielding tremendous results coupled with the acceleration of the cryptocurrency market by the present Bull Run. The promoters were happy and continued working hard. The total payment was expected to be above $10 million or the initially agreed 200 million STC tokens. But upon the completion of the project, the Student Coin Core team realized that they would have to pay “so much money” to the Bounty Detective Promoters and devised a scheme to trick them.



Firstly, the team said they would offer the promoters the options of receiving their payment in the initially agreed STC or in Ethereum. The purpose of this option was to preserve the price of the STC token from promoters who would want to sell immediately after their payment. The promoters saw this as an excellent offer. Some decided to get the ETH digital asset payment and some still decided to receive their work payment in STC form. We all filled out a form to this effect.



Couple of hours later, the Student Coin core team sent a message to the Bounty Detective team that all payment would be made in Ethereum form in total estimation of the current price of the 200 million STC digital assets. A lot of people still welcomed the idea, but some started speculating in their minds. The Student Coin core team restricted access to write in their Bounty Telegram group and left the view only option available. Not less than 1500 Bounty Detective promoters participated in the Campaigns and they were all shut out by the Student Coin core team.

 

On the 23rd of May 2021, a Sunday to be precise, the Student Coin core team distributed less than 5% of the total agreed payment. I myself was expecting to receive $10,500 in Ethereum or approximately 420,000 STC tokens for my work performed across Twitter, Linkedin and Publication Campaigns but I was paid $220 for them all. It was like a mirage, the entire 1500 promoters stormed into the Bounty Detective group since they received similar treatments and the commotion began.

 

STUDENT COIN CHIEF EXECUTIVE OFFICER VS BOUNTY DETECTIVE CHIEF EXECUTIVE OFFICER.

The Bounty Detective Chief Executive Officer quickly communicated with the Studen Coin CEO and his real hideous intentions were revealed. He claimed that our work did not generate any traffic to his site and that our work was totally useless. The Bounty Detective CEO tried to remind him of their initial agreement and that breaking the agreement was not allowed. Multiple companies pay the promoters their full wages whether the fund raising exercise were successful or not.  It was an initial agreement that was reached before a promotional exercise was initiated.



The CEO of Bounty Detective pleaded with the CEO of the Student Coin Company not to do what he was proposing to do. We raised $ 70 million for them. Promotional exercises are conducted to let investors know that sales are going on for a particular project. Upon an internal deliberation from an investor, he or she can decide to head to a website and make a worthy purchase to support a project. It is never mandatory that a purchase must be made from a promoter’s link. Infact, from the Student Coin’s core team, this would attract a 20% bonus for any promoter that successfully sells through his or her referral link. But primarily, our work is to orientate investors on the need to partake in a project through various selling points.



The Bounty Promoters have reported to the officials of Coinmarketcap, Kucoin and other numerous exchanges Student Coin’s digital asset STC is listed on, Bitcointalk high ranking officers and to other investors in Twitter platform have also been notified by the Bounty Participants. The promoters have been depressed since the heinous crime was performed.

 

A HUMBLE GOVERNMENTAL INTERVENTION

I humbly request the Polish authorities to step into this matter. The Student coin Head Quarter registered as Student Coin Edu Chain Limited and is located in Malchowski Square 4, 00-066 Warsaw Poland. The name of their Chief Executive Officer (CEO) is Wojciech Podobas and his personal number is +48694458409.



I am reporting to the Polish Police Authorities, Security and Exchange Commission and Internet Crime and Complaint centre, a division of the Federal Bureau of Investigation (FBI) for their thoughtful intervention.



These kinds of actions are unthoughtful and uncalled for. Labourers should be rewarded their wages.

I humbly request that the Polish Police authorities order Mr. Wojciech Podobas, the CEO of Student Coin to pay us our complete funds.



Attachments, regarding proof of the events would be attached.

I hope justice is served and that International Labourers are paid their wages from Polish Companies.

I anticipate your swift positive action,

That's how a scam project works, they seemed to make it complicated for bounty hunters so they can qualify their scams.

According to the bounty manager, the team had already said that they will not pay the bounty hunters, there's nothing we can do now to collect the real amount of bounty, we can only conclude that they deceive the bounty hunters to raise more funds.

Thanks for all the support of the DT members here, I really appreciate your comments, you've done your job very well guys, keep it up.