CryptoDao exchange is really shady

A few days ago, an alleged scam involving the CryptoDao exchange platform was reported, where its users did not receive the PPT cryptoactive they had acquired on that platform, nor did the refund of their investment. The platform declined to take responsibility claiming that purchases are the responsibility of buyers.

The irregular situation with the exchange house and the withdrawals of PPT, cryptoactive allegedly based on Ethereum, was denounced by several of the social network users on Twitter and Reddit .

It happened that the users wanted to remove the cryptoactive, but did not recover their funds nor received the tokens that they had acquired. On July 11, the exchange house announced via Twitter that they would withdraw their transactions with Populous (PPT), raising suspicion even more.

Upon perceiving the irregularities and seeing that the exchange platform had withdrawn the option for PPT, users contacted CryptoDao via email. The administrator replied that PPT was not a cryptoactive based on Ethereum , and that the purchase was entirely the responsibility of the creator: Populousnet.com, and provided the corresponding links (those that are no longer operative, thanks to the recurrent reports of the victims ).

He then replied that the official site of the cryptoactive in question was Populous.co ; However, CryptoDao simply accused him of blackmail and declared again that it was not his responsibility to reimburse the funds.

The story is repeated with another victim: Eric Kittell , who commented on the event, and said that "there was some confusion about the direction of the contract for PPT when it was first listed in the exchange house.

Eric can get more information and solve the big mess that involved CryptoDao, Populous.co and the site Populousnet.com, the latter being a false copy of the original Populous.co. In fact, after CryptoDao announced the withdrawal of the cryptoactive PPT from its platform, Populous.co warned on July 12 that a false site existed that was impersonating them.

Which both victims had already deduced by not receiving the paid cryptoactive. Eric tells that what happened was neglect of both the house of change and the original Populous.co, due to an error of communication and confirmation between both. Explains Eric:

"
This created an opportunity for swindlers to steal users who attempted to buy or sell PPTs in the CrypoDao exchange. There was confusion in etherdelta too, the original PPT-Ethereum was not established correctly either. Populous.co ignored all attempts to contact.

Eric Kittell
Ekittell

"

Finally, Kittell was able to contact Steven Nico Williams , CEO of Populous.co through LinkedIn, where he told Eric that the information they provided to CryptoDao was correct, and that the broker never asked them to confirm No change , so the error is in that CryptoDao "was not checking the email address of the senders against ours. They are fully responsible for what happens on the platform and not us, "Steven said, also disregarding the matter.

CryptoDao told Kittell that they had received three messages from Populous: "Old PPT contract", "Cryptoactive called XXX", "PPT (not based on Ethereum)", which was the one that the exchange house inscribed on its platform , And "Again PPT based on Ethereum". Eric argues that the first two messages may actually have come from Steven Williams and his team (Populous.co); While the third, of the scammers and their mail when they usurped the identity of Populous.co to give the instructions to CryptoDao; And the fourth, again from the original site, which contained the correct instructions even though it was late.

"The PPT that CryptoDao provided was a currency of an old script with its own blockchain, not a token based on Ethereum's platform and blockhain," Eric said. He claims that the false cryptoactive was actually based on Novacoin's open source code , and even offered a link to a block explorer as proof of legitimacy.

Eventually, the CryptoDao accounts of both Eric and the lebah user were closed , so they did not even have access to the fake cryptoactive they bought.

On the other hand, Eric says that the suspected swindlers of Populousnet advised him to download the digital wallet from his site to be able to withdraw from there the PPT he had bought ; But "there was no way to run the software provided by scammers obviously," Eric says, as this represents a danger and security threat.

CryptoDao was allegedly the victim of scammers, blame also on the original site of Populous.co not clarifying too much; But unfortunately, what stands out most here is that none of the entities involved will take responsibility for the event , leaving the victims without recovering their money, unless they achieve it by judicial causes; Behavior that leaves in question the ethics of both companies and that should serve as an example to others on how not to treat their clients.

Populous (PPT) is now trading on etherdelta and the alpha release is right around the corner !