UseCoin Scam - page 9. | Bitcointalksearch.org

UGETHIT

full member

Activity: 168

Merit: 100

Quote from: MineP.it on August 23, 2014, 01:27:16 PM

Quote from: Bitcycle on August 23, 2014, 01:21:00 PM

Not entirely Bittrex's fault, but they DO bear some responsibility for ICOs they host.

The need to step up to the plate and put an end to this crap.

My problem is that several people spoke to Bittrex admins before this happened - asking about the 3.5 million coins. So they were aware this was a potential problem, yet still did FA about it. It's not good enough for one of the largest crypto trading platforms. If it's totally unexpected, and they had no knowledge of any of this then it's unfair to blame them. But when they were forewarned, and still did nothing, it's just bad. People will start to trade elsewhere eventually.

Well if that is the case they should have issued a warning on the market.

MineP.it

full member

Activity: 182

Merit: 100

Quote from: Bitcycle on August 23, 2014, 01:21:00 PM

Not entirely Bittrex's fault, but they DO bear some responsibility for ICOs they host.

The need to step up to the plate and put an end to this crap.

My problem is that several people spoke to Bittrex admins before this happened - asking about the 3.5 million coins. So they were aware this was a potential problem, yet still did FA about it. It's not good enough for one of the largest crypto trading platforms. If it's totally unexpected, and they had no knowledge of any of this then it's unfair to blame them. But when they were forewarned, and still did nothing, it's just bad. People will start to trade elsewhere eventually.

UGETHIT

full member

Activity: 168

Merit: 100

I was blaming bittrex partly for this one. After reading through that usecoin thread though all I think bittrex was guilt of was being lazy. Had they read post #1079 I am guessing they would have warned people, force him to hand the coins over, or shut down the market. I think they just weren't really informed themselves.

ocminer

legendary

Activity: 2688

Merit: 1240

Quote from: MineP.it on August 23, 2014, 01:19:56 PM

Quote from: ocminer on August 23, 2014, 01:17:28 PM

Wow he made like about 20 BTC with that.. i'm starting to wonder why bittrex doesn't have some sort of "withdrawal-stop" if the amount of the (new) account is bigger than X btc ...

Damn.. i lost about 0.2 btc from renting hash for that coin...

Too simple - and they wouldn't be able host any more scams if they started doing that

Mmh.. Personally I still don't think it's really bittrex as those scams happen on c-cex also, the funny thing is when a coin hits c-cex it dies instantly, on bittrex at least it has a chance

But the community is right, bittrex HAS to do some sort of (minimal) security feature (as described above) now finally or they'll lose rep totally.. I see that too..

BTW Now would be a good opportunity to list RipOffCoin @ Bittrex finally...

Bitcycle

sr. member

Activity: 420

Merit: 250

Not entirely Bittrex's fault, but they DO bear some responsibility for ICOs they host.

The need to step up to the plate and put an end to this crap.

MineP.it

full member

Activity: 182

Merit: 100

Quote from: ocminer on August 23, 2014, 01:17:28 PM

Wow he made like about 20 BTC with that.. i'm starting to wonder why bittrex doesn't have some sort of "withdrawal-stop" if the amount of the (new) account is bigger than X btc ...

Damn.. i lost about 0.2 btc from renting hash for that coin...

Too simple - and they wouldn't be able to host any more scams if they started doing that

ocminer

legendary

Activity: 2688

Merit: 1240

Wow he made like about 20 BTC with that.. i'm starting to wonder why bittrex doesn't have some sort of "withdrawal-stop" if the amount of the (new) account is bigger than X btc ...

Damn.. i lost about 0.2 btc from renting hash for that coin...

UGETHIT

full member

Activity: 168

Merit: 100

Re: [ANN][USE] UseCoin » X13 | 10+ Ghash | BITTREX | 3.5mil USE will be DESTROYED

August 22, 2014, 01:58:47 AM

post #1079

Remaining IPO coins should be destroyed within the next 24-48 hours. We have decided to get Bittrex to destroy coins for us as a trustworthy entity.

This was where I stopped reading. The thread. 24 to 48 hours. Why not at that moment? Logic went out the window at that point. Anyone who read this and was invested in the coin should have asked why would he wait instead of doing it now?

Conduit

newbie

Activity: 30

Merit: 0

At the risk of sounding like an idiot, why doesn't someone use the block explorer to find out where those coins actually went? Bittrex claims they never received the coins, but then again like some people have pointed out, destroying the unsold IPO should have been the very first requirement to getting listed.

feixiangyu

sr. member

Activity: 414

Merit: 250

THIS COIN IS DEAD ALREADY!

UGETHIT

full member

Activity: 168

Merit: 100

Quote from: Pyramusx on August 23, 2014, 12:57:48 PM

Some of you Nostradamus niggas point the "warning signs" AFTER the fact. Very valuable guys

That's not what I was getting at. I wasn't following this coin. I generally ignore all IPO coins. I just read it for the first time when I made that post about reading page 41 to 47 ish. I was saying if someone had a buy order up and ignored what was going on in the usecoin thread they deserved what they got. I wasn't pretending to predict this scam after the fact. I had no clue what was going on until 45 mins ago when I saw it getting dumped.

lemfuture

hero member

Activity: 686

Merit: 500

ooh noo they dideen't

Pyramusx

sr. member

Activity: 379

Merit: 250

Following on Twitter @pyramusx

Some of you Nostradamus niggas point the "warning signs" AFTER the fact. Very valuable guys

Nthused

legendary

Activity: 1554

Merit: 1001

Halcyon [HAL] just got dumped on too ! this is very peculiar don't you think ? !

FeelTheBeat

hero member

Activity: 700

Merit: 500

I am glad that sold all on c-cex when price was still high. Grin

My apologies to all who are at loss Undecided

UGETHIT

full member

Activity: 168

Merit: 100

If you start on page 41 of the usecoin thread and read just the posts the dev was making for 5 or 6 pages it was clear he was stalling to keep those coins. He planned this. He executed this perfectly. People wanted to get took. If they ignored those warning signs in the devs posts they clearly wanted to lose money.

AZIZ1977

hero member

Activity: 504

Merit: 500

Quote from: UGETHIT on August 23, 2014, 12:44:01 PM

Quote from: UGETHIT on August 23, 2014, 12:39:03 PM

Ok if you read these 5 posts on the usecoin thread you can see they kept claiming they planned to destroy the coins. In the last one they claimed they were going to get bittrex to destroy the coins for them.

#857 / 912 / 995 / 1016 / 1079

Now bittrex do you even read the threads for the coins you list you fucking shitbags? They used your name and said you were going to destroy the 3.5 million coin. If I was bittrex I would have at least warned people about the fact that 3.5 million coins were never given to bittrex for destruction.

Honestly though this isn't bittrex fault. If you had been following the usecoin thread you wouldn't have put up a buy order for this coin at all till the coins were verified as destroyed.

True, but serious exchange as bittrex should have looked into if the dev destroyed the coins or not before adding it.

fakeshadow

sr. member

Activity: 440

Merit: 250

Quote from: UGETHIT on August 23, 2014, 12:44:01 PM

Quote from: UGETHIT on August 23, 2014, 12:39:03 PM

Ok if you read these 5 posts on the usecoin thread you can see they kept claiming they planned to destroy the coins. In the last one they claimed they were going to get bittrex to destroy the coins for them.

#857 / 912 / 995 / 1016 / 1079

Now bittrex do you even read the threads for the coins you list you fucking shitbags? They used your name and said you were going to destroy the 3.5 million coin. If I was bittrex I would have at least warned people about the fact that 3.5 million coins were never given to bittrex for destruction.

Honestly though this isn't bittrex fault. If you had been following the usecoin thread you wouldn't have put up a buy order for this coin at all till the coins were verified as destroyed.

find someone to blame.thats the logic here.

ChrisSommer

newbie

Activity: 56

Merit: 0

Quote from: UGETHIT on August 23, 2014, 12:44:01 PM

Quote from: UGETHIT on August 23, 2014, 12:39:03 PM

Ok if you read these 5 posts on the usecoin thread you can see they kept claiming they planned to destroy the coins. In the last one they claimed they were going to get bittrex to destroy the coins for them.

#857 / 912 / 995 / 1016 / 1079

Now bittrex do you even read the threads for the coins you list you fucking shitbags? They used your name and said you were going to destroy the 3.5 million coin. If I was bittrex I would have at least warned people about the fact that 3.5 million coins were never given to bittrex for destruction.

Honestly though this isn't bittrex fault. If you had been following the usecoin thread you wouldn't have put up a buy order for this coin at all till the coins were verified as destroyed.

It's bittrex fault for listing shitcoins, and helping all those scammers in a way.
Don't freaking list a coin if the dev have that many coins.

80% of this is bittrex fault from my point of view

UGETHIT

full member

Activity: 168

Merit: 100

Quote from: UGETHIT on August 23, 2014, 12:39:03 PM

Ok if you read these 5 posts on the usecoin thread you can see they kept claiming they planned to destroy the coins. In the last one they claimed they were going to get bittrex to destroy the coins for them.

#857 / 912 / 995 / 1016 / 1079

Now bittrex do you even read the threads for the coins you list you fucking shitbags? They used your name and said you were going to destroy the 3.5 million coin. If I was bittrex I would have at least warned people about the fact that 3.5 million coins were never given to bittrex for destruction.

Honestly though this isn't bittrex fault. If you had been following the usecoin thread you wouldn't have put up a buy order for this coin at all till the coins were verified as destroyed. Golf clap to the dev. He pulled off a new scam grats him. BTW he never did PoD.

Topic: UseCoin Scam - page 9. (Read 9011 times)