They don't moderate scans so the least we can do is to do our own diligence to determine that the project is scam or not.
They also not a crypto reviewing site so don't expect them to erase the possible scam and remain those top coins. They are just listing all coins which have good volume exist, so we need to have critical thinking on our investment and never rely on others opinion about what coin or tokens is best to invest.
Topic: Why Coinmarketcap and Coingecko help scammers ? (Read 313 times)
One of the biggest and well veiled scammer exchanges is Bibox, when peoples can't take their deposits from December 22. I find on the internet some dozen posts about it on different platforms. But Coinmarketcap and Coingecko think what this phrase: "We have received multiple reports from users being unable to withdraw funds from Bibox. Please exercise caution. "which you can see in exchange description enough for disclaimer and continue place quotes of scammers. I don't think so. They undermine confidence in the crypto industry.
However, both Coingecko and Coinmarketcap have warned their viewers that if they use bibox, they may face issues. I didn't see something that I was warned about when coinmarketcap sent me to the bibox website based on the quotes of one of the currency pairs. Maybe I didn't see well ...
Look where hosted "bibox":
Domain Name: bibox.com
Registry Domain ID: 14271455_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
.
this scam hosted in US )))), I thought what that more relevant for Panama or Seychelles Islands but not in USA it's also possible.
Domain Name: bibox.com
Registry Domain ID: 14271455_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
.
this scam hosted in US )))), I thought what that more relevant for Panama or Seychelles Islands but not in USA it's also possible.
I understand that you may be angry at bibox.com but things really work in a slightly different way.
bibox.com domain is registered on the global registrant Godaddy.com based in the US. They do the domain registration, but they do not deal with the content of that domain and what is behind it. They are not responsible for determining whether something is a scam or not.
Globally, it means that a person from Indiafor example, can register a domain using the Godaddy service.
If you have irrefutable evidence against them, then it is best to contact the competent authorities to deal with it. Only they can request Godaddy to cancel or seize that domain.
btw. when we talk about hosting, bibox.com is behind Cloudflare.
Registrant State/Province: Arizona
Registrant Postal Code: 85284
Registrant Country: US
Registrant Phone: +1.4806242599
I look on this raws and see that bibox hoster plased in US.
As long as there will be fraudsters like bibox in the crypto industry and other giants will help them, crypto for the average person will be associated with fraud and will be used in most cases only by traders and for calculations to avoid taxes.
legendary
Activity: 2408
Merit: 4282
eXch.cx - Automatic crypto Swap Exchange.
One of the biggest and well veiled scammer exchanges is Bibox, when peoples can't take their deposits from December 22. I find on the internet some dozen posts about it on different platforms. But Coinmarketcap and Coingecko think what this phrase: "We have received multiple reports from users being unable to withdraw funds from Bibox. Please exercise caution. "which you can see in exchange description enough for disclaimer and continue place quotes of scammers. I don't think so. They undermine confidence in the crypto industry.
Both platforms has done their best, they have warned of the possiblity of getting a worst experience if you use the exchange, I think that along is okay as they keep the reputation of their companies safe incase the reports flowing around mightn't be true. The project could sue coinmarketcap and coingecko (let assume this was a false accusation) so both sites did the best they could, it's now left for you to do your research and make sure you don't fall victims to this scam exchange and projects in their hundreds looking for gullible newbies to scam.
Both platforma aren't investigation sits they they're mandated to give feedback reports on exchanges that are safe and those that aren't. This sites only list things relating to cryptocurency and they have done just that perfectly. Also they're not helping scammers they're only helping you technically because now more people get to see the warnings of been careful of the exchange and make decisions based on that. Also don't take recommended from this type of site or any sites at all, forums like this on Bitcoin or cryptocurrency are best places to get informations.
Bibox exchange has been running since 2017 and i have heard it through some of the YouTubers who promoted this exchange. (https://www.coingecko.com/en/exchanges/bibox). Although I never deposited at this exchange.
However, both Coingecko and Coinmarketcap have warned their viewers that if they use bibox, they may face issues. So why do you call both of these sites not doing their job of giving the right awareness about the exchange?
Since the bibox exchange do exist, they can't just remove it from their listing and even if they do, then how will people know that there are ongoing issues with this exchange. Atleast now if anyone searches bibox, he will immediately know to stay away from this exchange.
I agree with you, the blame lies with these unscrupulous Youtubers who throw their subscribers and viewers to risk and to the scam exchanges they promote, and they undoubtedly received money for this paid promotion. For CMC and CGO, the listings on them are free, and any project or platform can apply by requesting a free listing, but after CMC and CGO obtain reports and feedback indicating the lack of credibility of a platform or project, they put this warning in red at the top to disclaim their full responsibility, and I think that this warning is sufficient for people to refrain from engaging in a platform or project with a bad reputation and reports.However, both Coingecko and Coinmarketcap have warned their viewers that if they use bibox, they may face issues. So why do you call both of these sites not doing their job of giving the right awareness about the exchange?
Since the bibox exchange do exist, they can't just remove it from their listing and even if they do, then how will people know that there are ongoing issues with this exchange. Atleast now if anyone searches bibox, he will immediately know to stay away from this exchange.
As for the Bibox exchange, it is a bad and 100% scam exchange. They allow you to deposit your funds at the beginning easily; after that, they do not allow you to withdraw them. If you contact their poor customer service, they evade the answer. In any case, I advise everyone to stay away from this exchange, as they are not a good place to trade and for investment.
One of the biggest and well veiled scammer exchanges is Bibox, when peoples can't take their deposits from December 22. I find on the internet some dozen posts about it on different platforms. But Coinmarketcap and Coingecko think what this phrase: "We have received multiple reports from users being unable to withdraw funds from Bibox. Please exercise caution. "which you can see in exchange description enough for disclaimer and continue place quotes of scammers. I don't think so. They undermine confidence in the crypto industry.
Bibox exchange has been running since 2017 and i have heard it through some of the YouTubers who promoted this exchange. (https://www.coingecko.com/en/exchanges/bibox). Although I never deposited at this exchange.
However, both Coingecko and Coinmarketcap have warned their viewers that if they use bibox, they may face issues. So why do you call both of these sites not doing their job of giving the right awareness about the exchange?
Since the bibox exchange do exist, they can't just remove it from their listing and even if they do, then how will people know that there are ongoing issues with this exchange. Atleast now if anyone searches bibox, he will immediately know to stay away from this exchange.
Look where hosted "bibox":
Domain Name: bibox.com
Registry Domain ID: 14271455_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
.
this scam hosted in US )))), I thought what that more relevant for Panama or Seychelles Islands but not in USA it's also possible.
Domain Name: bibox.com
Registry Domain ID: 14271455_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
.
this scam hosted in US )))), I thought what that more relevant for Panama or Seychelles Islands but not in USA it's also possible.
I understand that you may be angry at bibox.com but things really work in a slightly different way.
bibox.com domain is registered on the global registrant Godaddy.com based in the US. They do the domain registration, but they do not deal with the content of that domain and what is behind it. They are not responsible for determining whether something is a scam or not.
Globally, it means that a person from Indiafor example, can register a domain using the Godaddy service.
If you have irrefutable evidence against them, then it is best to contact the competent authorities to deal with it. Only they can request Godaddy to cancel or seize that domain.
btw. when we talk about hosting, bibox.com is behind Cloudflare.
Look where hosted "bibox":
Domain Name: bibox.com
Registry Domain ID: 14271455_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: https://www.godaddy.com
Updated Date: 2018-10-17T01:02:48Z
Creation Date: 1999-11-30T06:11:02Z
Registrar Registration Expiration Date: 2024-11-30T06:11:02Z
Registrar: GoDaddy.com, LLC
Registrar IANA ID: 146
Registrar Abuse Contact Email: [email protected]
Registrar Abuse Contact Phone: +1.4806242505
Registry Registrant ID: Not Available From Registry
Registrant Name: Registration Private
Registrant Organization: Domains By Proxy, LLC
Registrant Street: DomainsByProxy.com
Registrant Street: 2155 E Warner Rd
Registrant City: Tempe
Registrant State/Province: Arizona
Registrant Postal Code: 85284
Registrant Country: US
Registrant Phone: +1.4806242599
this scam hosted in US )))), I thought what that more relevant for Panama or Seychelles Islands but not in USA it's also possible.
Domain Name: bibox.com
Registry Domain ID: 14271455_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: https://www.godaddy.com
Updated Date: 2018-10-17T01:02:48Z
Creation Date: 1999-11-30T06:11:02Z
Registrar Registration Expiration Date: 2024-11-30T06:11:02Z
Registrar: GoDaddy.com, LLC
Registrar IANA ID: 146
Registrar Abuse Contact Email: [email protected]
Registrar Abuse Contact Phone: +1.4806242505
Registry Registrant ID: Not Available From Registry
Registrant Name: Registration Private
Registrant Organization: Domains By Proxy, LLC
Registrant Street: DomainsByProxy.com
Registrant Street: 2155 E Warner Rd
Registrant City: Tempe
Registrant State/Province: Arizona
Registrant Postal Code: 85284
Registrant Country: US
Registrant Phone: +1.4806242599
this scam hosted in US )))), I thought what that more relevant for Panama or Seychelles Islands but not in USA it's also possible.
So instead of the warning you want them to mark those reported as scams, in the first place they are not an investigator they are not the police they are market aggregators if reported they will post notifications about the status of the project, so investors and holders can exercise caution and take further necessary action.
Issuing a warning is already ok since they do not have all the evidence and they are not a judge to mark it as a scam, it's better this way than not having a warning at all, there are platforms where investors can check about the status of the coin they've invested.
Issuing a warning is already ok since they do not have all the evidence and they are not a judge to mark it as a scam, it's better this way than not having a warning at all, there are platforms where investors can check about the status of the coin they've invested.
The situation is similar like some people said Bitcointalk is helping the scammer by not permanently banned a proven scammer or delete all of the thread created by him.
I think coinmarketcap and coingecko are want to play safe, if they accuse an exchange which get multiple complaints toward them, the exchange might lawsuit coinmarketcap and coingecko because they both spreading FUD. So rather than taking such risk, they choose to give a warning message as they don't have proof if the exchange is really scam or people are making fake complaints.
I think coinmarketcap and coingecko are want to play safe, if they accuse an exchange which get multiple complaints toward them, the exchange might lawsuit coinmarketcap and coingecko because they both spreading FUD. So rather than taking such risk, they choose to give a warning message as they don't have proof if the exchange is really scam or people are making fake complaints.
Coinmarketcap and Coingecko only present the data they get from many exchanges to inform crypto users regarding analyzing exchanges or coins on the market.
But to find the right coin or exchange, it is every user's duty to research. Coinmarketcap and Coingecko are not responsible for what will happen to users because they think that users can be responsible for what they will do.
So I think Coinmarketcap and Coingecko seem to have nothing to do with scammers. And even if they are related to scammers, we don't know the truth.
But to find the right coin or exchange, it is every user's duty to research. Coinmarketcap and Coingecko are not responsible for what will happen to users because they think that users can be responsible for what they will do.
So I think Coinmarketcap and Coingecko seem to have nothing to do with scammers. And even if they are related to scammers, we don't know the truth.
--
Even if there are specialists who will oversee all projects, that does not guarantee there will be fewer fraudulent projects. Each user must make sure to search for more information. We also cannot 100% trust the crypto community out there especially if we know the people who join it. So if we are a beginner, we should be able to get information from many sources, compare everything, and see what happened to know more about the actual situation. 
They just show information, whether it may be correct or not, it's not their responsibility, and they might not go far to ensure correctness of what they show. Read both coingecko/cmc's disclaimer you will find creating such threads futile.
Quote from: coinmarketcap
CoinMarketCap will strive to ensure accuracy of information listed on this website although it will not hold any responsibility for any missing or wrong information. CoinMarketCap provides all information as is. You understand that you are using any and all information available here at your own risk.
Quote from: coingecko
We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
Personally, I've been a victim to several scams, that is by investing in coins or tokens I found on coinmarketcap or coingecko, only to later find out its a scam, I do not blame them, and on this note, I would say that coinmarketcap and coingecko, are like bitcointalk(this forum), it is not in their hands to finish out or stop scammers on their platform, it is mostly up to the users to do their own research before putting money on any exchange or coin/token found on cmc or coingecko, and they can only tag an exchange, coin/token based on multiple complaints they(cmc/coingecko) receive from users, which is the same thing they've been doing for years now.
Exactly the same with this forum where, where a scammer can be tagged through the trust system, and the forum algorithm will be triggered to place a tag on that user, warning other forum members to be careful dealing with that user, where as such users are supposed to be banned, but the forum do not ban them, until they go against the community rule.
Exactly the same with this forum where, where a scammer can be tagged through the trust system, and the forum algorithm will be triggered to place a tag on that user, warning other forum members to be careful dealing with that user, where as such users are supposed to be banned, but the forum do not ban them, until they go against the community rule.
What are your suggestions to solve this problem? Removing the content will open the door to giving them the power to manipulate the market.
By removing a currency or threatening to do so, they can manipulate the price or get a commission from the developers, so it is not the best solution.
Personally, I can say the least they can do is:
- Red warning mode.
- Stop all links and make the platform work without links, while showing links to scam cases.
- Place warnings in front of the price that it may not be accurate.
- Putting a red list of those platforms while not appearing when searching or reducing the possibility of their appearance.
In the end, competition and the use of alternatives will force them to improve the quality of the content they offer.
By removing a currency or threatening to do so, they can manipulate the price or get a commission from the developers, so it is not the best solution.
Personally, I can say the least they can do is:
- Red warning mode.
- Stop all links and make the platform work without links, while showing links to scam cases.
- Place warnings in front of the price that it may not be accurate.
- Putting a red list of those platforms while not appearing when searching or reducing the possibility of their appearance.
In the end, competition and the use of alternatives will force them to improve the quality of the content they offer.
One of the biggest and well veiled scammer exchanges is Bibox, when peoples can't take their deposits from December 22. I find on the internet some dozen posts about it on different platforms. But Coinmarketcap and Coingecko think what this phrase: "We have received multiple reports from users being unable to withdraw funds from Bibox. Please exercise caution. "which you can see in exchange description enough for disclaimer and continue place quotes of scammers. I don't think so. They undermine confidence in the crypto industry.
Why would they help scammers they are not going to get anything and it will tarnish their platform, they have no control of the internal affairs of these exchanges, if there are many reports coming of dubious activity of a certain exchange or token listed they are quick to make an announcement.These are market aggregators that can make an announcement based on reports, do your own research on reliable reports or better only trade on a reputable exchange.
There are a lot of scam tokens that are still listed on these aggregators but I don't take it against them if they are late in giving notifications or even rely on them.
And Coinmarketcap ( from - 30$ ) and CoinGecko ( from - 103$ - not bad))) ) have the pricing plans for access for their API, accordingly they have some "pricing users" and complaints receive from "pricing users" not hard to distinguish from bot's complaints. How I write higher - if would be a desire, and so - take money for access they can but delete quotes they can't.
1) I'm going to guess that most people using their API services are not using the exchanges themselves but rather just the data for display and other things.
And
2) it's still valid for a competing exchange. $30000 (1000 x $30) to get have 1000 compalints against a competitor to have them pulled / de-listed from CMC is not a lot of money.
They just list data, and will rarely post a warning. Personally I would not even do the warning. There are enough resoouces out there to figure out if something is a scam or not. If you choose not to look that's not on the places like CMC / Gecko or discussion boards like here. It's your money, you do the research. That's the point of crypto, having your money and doing your thing with it. But, you at that point loose the 'safety net' of having your mom hold your hand as you do it. If you can't take the heat, stay out of the kitchen.
-Dave
Think of the manpower and research needed to figure it out.
All of a sudden some exchange starts getting a lot of complaints.
Are they legitimate issues OR
1) Is it one frustrated user who is trying to organize a campaign against that exchange
2) Is it a competitor who is trying to hurt the exchange
3) Was there a lot of fraud going on at that exchange and they changed some some rules to fix it and now the fraudsters are complaining since they can't fraud anymore.
And so on. How do you figure it out? The answer is you don't. You just post a warning like they do.
If you send money / coins anywhere and do not do a lot of research 1st then you are going to sooner or later get scammed.
This is the internet, they are websites, it is not you mom holding your hand as you cross the street.
-Dave
And Coinmarketcap ( from - 30$ ) and CoinGecko ( from - 103$ - not bad))) ) have the pricing plans for access for their API, accordingly they have some "pricing users" and complaints receive from "pricing users" not hard to distinguish from bot's complaints. How I write higher - if would be a desire, and so - take money for access they can but delete quotes they can't. All of a sudden some exchange starts getting a lot of complaints.
Are they legitimate issues OR
1) Is it one frustrated user who is trying to organize a campaign against that exchange
2) Is it a competitor who is trying to hurt the exchange
3) Was there a lot of fraud going on at that exchange and they changed some some rules to fix it and now the fraudsters are complaining since they can't fraud anymore.
And so on. How do you figure it out? The answer is you don't. You just post a warning like they do.
If you send money / coins anywhere and do not do a lot of research 1st then you are going to sooner or later get scammed.
This is the internet, they are websites, it is not you mom holding your hand as you cross the street.
-Dave
Think of the manpower and research needed to figure it out.
All of a sudden some exchange starts getting a lot of complaints.
Are they legitimate issues OR
1) Is it one frustrated user who is trying to organize a campaign against that exchange
2) Is it a competitor who is trying to hurt the exchange
3) Was there a lot of fraud going on at that exchange and they changed some some rules to fix it and now the fraudsters are complaining since they can't fraud anymore.
And so on. How do you figure it out? The answer is you don't. You just post a warning like they do.
If you send money / coins anywhere and do not do a lot of research 1st then you are going to sooner or later get scammed.
This is the internet, they are websites, it is not you mom holding your hand as you cross the street.
-Dave
All of a sudden some exchange starts getting a lot of complaints.
Are they legitimate issues OR
1) Is it one frustrated user who is trying to organize a campaign against that exchange
2) Is it a competitor who is trying to hurt the exchange
3) Was there a lot of fraud going on at that exchange and they changed some some rules to fix it and now the fraudsters are complaining since they can't fraud anymore.
And so on. How do you figure it out? The answer is you don't. You just post a warning like they do.
If you send money / coins anywhere and do not do a lot of research 1st then you are going to sooner or later get scammed.
This is the internet, they are websites, it is not you mom holding your hand as you cross the street.
-Dave
I used cryptocurrencies since 2017 and scammers for me are not a problem but I imagine myself for a newbie position. 95% of people never have Bitcoin and the situation when you give your money to scammers for self experience and most famous coin ranking sites help you for that is incredible. I understand what any project can become "scammer" how GDax, FTX and many ICO some time ago but people can take your money during five months( FIVE month Carl ) and the quotes from that exchange continue to entice new, new people and nobody cares. I, as a developer, know that need to tighten up some specialists for some days and the problem will be resolved, but they don't do it. Why ? Indeed is crypto-community still so wild ?
One of the biggest and well veiled scammer exchanges is Bibox, when peoples can't take their deposits from December 22. I find on the internet some dozen posts about it on different platforms. But Coinmarketcap and Coingecko think what this phrase: "We have received multiple reports from users being unable to withdraw funds from Bibox. Please exercise caution. "which you can see in exchange description enough for disclaimer and continue place quotes of scammers. I don't think so. They undermine confidence in the crypto industry.
Coin list sites will list almost everything because they least care about the scam and only care that everything is listed on their site so people do not need to visit any other site for coin/exchange tracking. Even such sites will not hesitate to list the scam projects if those projects paid them.
You may use these listing sites to get general information about the coins but if you want to invest in any coin and/or in any exchange better do the due diligence yourself. The money is ours and we need to take the responsibility of investing it in the trusted project.
Coin ranking sites (coinmarketcap and coingecko) don't care much about the legitimacy of a project or exchange. What they mostly care about is traffic so that they can earn money from adverts and referral links
If you don't do due diligence yourself, and get scammed. Then you are to blame.
I made this post about 4 years ago about how investors and traders are getting fucked left, right and center... but at that time it was mostly about ICOs, but the narrative hasn't changed
Current situation, how investors/traders are enriching these three.
If you don't do due diligence yourself, and get scammed. Then you are to blame.
I made this post about 4 years ago about how investors and traders are getting fucked left, right and center... but at that time it was mostly about ICOs, but the narrative hasn't changed
Current situation, how investors/traders are enriching these three.
Agree with me - forum and exchange are different things)
Forum and coin tracking tools are two different things but neither of them is responsible for vetting possible scams. My example was to show that websites can offer hints that an exchange or mixer is a scam without necessarily taking it down. This does not mean they help scammers, it means you should do your research yourself.- Jay -
they probably can't take responsibility or have a clear approach in these situations and "notify" users with a pop-up is the only legal action they can take.
In general, I will suggest to use the "basic" rule of not using "little known" or "unreliable" exchanges.
If you how service got ten or more complaints from yours verify users that "pop-up" is weak solution and "can't take" or "can't want" in this question ...In general, I will suggest to use the "basic" rule of not using "little known" or "unreliable" exchanges.
If you take this isolated incident, it does not show either coingecko or coinmarketcap to be helping scammers anymore than the forum does. Here in the forum scams are unmoderated, it rather has a trust system which serves as guides for users with pointers like trust scores and flags. This is a similar disclaimer to what was put up for Bibox exchange.
This does not mean I am saying either platform does not support scammers in other incidences, but not in this case.
- Jay -
Agree with me - forum and exchange are different things) This does not mean I am saying either platform does not support scammers in other incidences, but not in this case.
- Jay -
If you take this isolated incident, it does not show either coingecko or coinmarketcap to be helping scammers anymore than the forum does. Here in the forum scams are unmoderated, it rather has a trust system which serves as guides for users with pointers like trust scores and flags. This is a similar disclaimer to what was put up for Bibox exchange.
This does not mean I am saying either platform does not support scammers in other incidences, but not in this case.
- Jay -
This does not mean I am saying either platform does not support scammers in other incidences, but not in this case.
- Jay -
they probably can't take responsibility or have a clear approach in these situations and "notify" users with a pop-up is the only legal action they can take.
In general, I will suggest to use the "basic" rule of not using "little known" or "unreliable" exchanges.
In general, I will suggest to use the "basic" rule of not using "little known" or "unreliable" exchanges.
One of the biggest and well veiled scammer exchanges is Bibox, when peoples can't take their deposits from December 22. I find on the internet some dozen posts about it on different platforms. But Coinmarketcap and Coingecko think what this phrase: "We have received multiple reports from users being unable to withdraw funds from Bibox. Please exercise caution. "which you can see in exchange description enough for disclaimer and continue place quotes of scammers. I don't think so. They undermine confidence in the crypto industry.
Jump to: