How i got scammed. 100% not what you think.
Please read this post on $887.19 in GAS CargoX ICO that i posted the past week.
So basically i was late by 10 mts and the ICO was over. Infact not everyone who got in at the right time had their transactions mined on the blockchain because its not just about FCFS anymore but more into who is willing to pay a premium in GAS to get their transaction mined and eventually get the tokens.
So i got in on time for Arcbloc and withing the first minute got everything done. The individual cap was 3 ETH with 1ETH = 1900ABT everything was well and i got my tokens too. Happy and the ICO was over in around 10mts. FAaast.
Read On...
Many a time i see that especially during ICO's there are so many scammers around targeting the newbies and there were plenty of such messages on the telegram group chat. I decided to talk to them and just waste their time, maybe that helped some newbie from getting scammed, atleast i hope so.
There were a tonne of scammers posing as ArcBloc admins. Unlike them messaging me privately, i started it, pretending to be a gullible noob kid. This is kinda funny and i'd love that you read it full.
This is just one of the scammers peeps and i actually did the same with 2 others, just to waste their time and help the newbies from getting scammed. But hey the story isn't finished yet. There is more to it. This a story where I got scammed by the team!
Please read very important.
So in order to not miss out on this ICO i used Gas 210000 & Gwei 65 where as the recommended limit was 200000 & 60. So guess what now, every investor who exceeded the max cap of 3 ETH or 200000 GAS or 60 Gwei will be penalized for not following the rules and 20% penalty. So basically the tokens that you received will be gone and 20% of 3 ETH; 0.6 ETH as penalty & we still dont know when we will get back out ETH now how cool is that! SICK
I was like they were joking or something but NO. ALL MY TOKENS ARE GONE in my account page. I mean this is what we get for helping out & no favorable responses from the admins yet.
Guys im just sharing this, i tried to keep the scammers out in many other ICO's that i was in aswell but this is the first time something of this sort is happened. You loose 20% of your ETH and your tokens are gone too. What a !!! Lets see what happens.
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Sorry,😔 Feeling very bad what they did,
same thing happned with me before when i was looking to buy skycoin. I just message in their telegram group and he dm me and said he is admin and OTC selling going on. So my wallet was not working so, i asked dev about it and checkout before making deal if that person is from the core team or not.
One more scam technique i wanna add up, that is they come into telegram group if coin is new. Talk with dev is there any airdrop if they says no then 2nd question they ask is they want to work with project if team says no to them they start calling project scam in the group, on their fb, twitter, reddit literally every where. After that they blackmail the core team and asks for free coins.
These are scammer they are everywhere.
No bro, i didnt get scammed by the scammers actually. Its the team itself and they told they will penalise us 20% in ethereum for crossing the limits on the gas price. But alls good they actually refunded 100% but sadly no tokens. Will wait for the next ICO lol
The chat with the scammers was hilarious! But what happened next can't be real, we really need some regulations on ICO's.
A few days ago I participated in an ICO that was super swift. In order to avoid gas wars and everything all wallets that were whitelisted had to be prefounded. It might be riskier if you don't trust the team, but ten seconds after the pre-sale started every transaction was processed and I had secured my tokens.
I really can't say if that's the best way of doing it, but seemed good enough.
Hope you can recover your eth my friend!
Its kinda settled mate, after talks they have decided to refund it all back. No penalties, thankful for that but the thing is no tokens :(
Well, but you have your funds back! That's good to hear. There will be plenty of opportunities in the future. ;)
Incredible , you over invest in their product so they have the right to take your stuff ?? Insane and that needs to be exposed as the bad behaviour it is !! Reputation is all in Crypto, lose it and you are done ! hope it works out for you @amreschandra )
Freaking insane mate. Never experienced anything like this. But i still do hope that they'd do justice. Waiting...🙏
It's sad , they got no right to penalize and keep your Eth .
i)Penalize 20% eth, refund the rest in 3weeks time. 3 weeks is like forever meanwhile will miss out on other ICO waiting for the refund.
ii)Take away our tokens too... Like ftw
3 weeks of trading and ico miss with -20 % , we need some regulation in ICO's .
The sad thing about regulations is that once thats in place most likely only accredited investors will be able to participate i guess and we all will be kinda left behind and can only buy when it goes public/ from the exchanges.
Btw recommend some good upcomming ico's in your post if you come across any .
Sure thing mate
Terrible scammers!
Yea they are! No right to penalize for exceeding the gas/gwei limit
very unfortunate, I hope you get your money back eth is not cheap :c
Hi! Thanks for your support, @growingpower just upvoted your comment ;) Hope you have a great day
One of the weirdest ways of loosing money lol. I have never encountered such a situation before.
I'm sorry but this is one of the funnier ways that an ICO has scammed people. Did they list those rules before the sale though? Seems like a convenient way for them to keep people's money either way. They should just refund 100%, holding it for that long during these market conditions they could just short your ETH and make money on the dip lol, no need to double-pwn you.
Hey mate you are one of the few people who have read/listen to the whole thing. Appreciate it :)
Yea this is one of the weirdest things ever happened to me. The rules are like for every ICO wherein they set the gas & gwei limit. Only after the ICO they told that whoever overshot on the gas price...will be penalized 20%. Now its like
20% eth gone
Haven't received the refund yet.
Also 0 tokens in the dashboard
Such a beauty lol. Will wait for further update and see how it goes. Hope for the best.
Yeah that's one weird thing about steemit. Everyone who can read and write and has at least a small following tries to publish their own content, and everyone who can't is just spamming comments. And there's so few people who actually read or watch any of what is posted, no offense to anyone else here who does. I think I like reading more than I like writing, and I like talking to people more than just writing things and leaving it hanging out there.
Oh wow so they didn't list the penalties beforehand, they just randomly came up with the numbers afterwards. That's even scammier lol. Sorry to hear about that. I guess if I ever get the courage to invest in any icos I'll be sure to read the ultra fine print and hopefully save myself the headache, so thanks for sharing this experience with us.
I'm not very good at ICO's that's why for me, it's better to wait for the price to stabilize in the exchanges before putting my money into it.
true that mate. unless you are flipping its good to buy after price stabilizes in the exchange. Many of the recent token are well under ico price
Sry to hear! There is so much scam goin on in ICO lateley.
The ICO is legit but the way they are dealing with the investors and penalizing them for exceeding the gas limit is unacceptable
Gaswars 2018 :D
oh this is so sad.....They are just Doing Fruad with people So plz always Beware from these kinds of people...I,m very sad my friend to hear about this Terrified thing on Groupss.....Don,t worry every thing will come back just trust on God...MAy God Blessed You Dear @amershchandra :(
It all well mate, lets wait and see how it goes.
You got a 12.70% upvote from @buildawhale courtesy of @amreshchandra!
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