A Magical Exit-Scam With A Touch Of... Magic?

in #magicdice5 years ago (edited)

By BGO: For those who haven't heard of Magic Dice they were what appeared to be a promising Dice game that was built on the Steem Blockchain. If fact they were one of the top Steem apps in terms of userbase and with the appealing benefits of daily dividends and the promise of incorporating the Smart Media Token (SMT) once that project became live, it's clear why players were drawn to Magic-dice.com. Unfortunately just a couple days ago on 6/3/19 the website went offline. At first it appeared to be just an issue with their servers as this can happen often even with the most popular websites but as each hour passed it started to become clear the issue was much bigger than some server issue. What really sealed the deal however was the Magic-dice discord channel also going down and is no longer active. It became pretty obvious that Magic-dice took off running with a Exit-Scam no one saw coming.

Is It Magic

When the Magic-dice app came online this past winter it was very appealing to the players, offering aesthetic colors with a neon purple logo and the chance to earn some passive income with ever Magic tokens owned, it didn't take long for the game to climb to the top of the Steem app leaderboard. They made promises to any player that held these magic tokens which paid daily dividends in the form of Steem which could be withdrawn at anytime, instantly.. On top of that, as stated in their whitepaper that once the SMT project was live all magic tokens would be converted and then become tradable on cryptocurrency exchanges. They even held weekly wagering contests which paid millions of magic tokens to the top players on the leaderboard. The whole platform offered promise to a industry that is rapidly growing.

No, it's just a Magic Scam

However now it's the 3rd day with no Magic-dice website, no discord channel, no word from the company, it's clear as players try to come to terms with the fact that Magic-dice has magically disappeared for good.

What I find strange however is the game was designed in such a way that no balances were ever kept on the website itself other than any dividends earned. See the game could only be played with the use of a 3rd party app such as Steem Connect and/or Keychain to place the bets. These apps gives the players the ability to avoid having to deposit onto the actual website and instead the funds go straight in & out of the players Steemit wallet. So it's unclear how much they Magic-dice actually gained aside from profits from the players losing bets over time.

The Steemit community is dissapointed and angry but when it comes to cryptocurrency, expect the unexpected.

Posted using Partiko Android


Congratulations @thehulk07! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

You can upvote this notification to help all Steem users. Learn how here!

Coin Marketplace

STEEM 0.20
TRX 0.13
JST 0.029
BTC 66014.01
ETH 3472.87
USDT 1.00
SBD 2.68