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RE: Magic Dice Exit Scam Confirmed! Nearly $250,000 CAD Worth of Crypto Stolen by STEEM User @zombee...
This is what I am talking about. There should be some type of accountability on these programs launching on the steem blockchain and using the steem blockchain. You shouldn't be able to just run off with thousands of dollars and have no consequences at all otherwise its just going to keep happening, get worse and leave steem at $0.00 value as these scumbags continue to use steem and then dump us. This is the 3rd program so far this year that I know of I am sure there are others that have taken delegations and steem and then just left.
100% agree with you that it sucks the community is getting screwed over by dickheads coming in, setting up shop, making a bit of money and trust, then buggering off with their loot at the expense of others.
What's even worse is when scammy bastards like this get well supported byt the community over honest developers. Kind of sucks.
Agreed it's hard to tell the difference on here honestly. Might be a demand for a site or system that tracks who is who when these sites launch. But at the end of the day any of these sites can just shut down without warning including steemit.
True enough.. This makes me think that having an emergency withdrawal account option on my own site just in case I ever needed to shut it down to make sure that everyone gets their money back.. Redundancy is a good policy, but I think in the magic dice exit scam was pre-meditated. :/
Oh for sure pre-meditated, planned it all along.
All that is necessary to preclude such scams is enabling multisig that requires consent of investors to move funds. Investing is not a new business model. Mechanisms of securing funds, collateralizing, and etc. have been developed over thousands of years that are SOP for investors.
Why anyone would consider investing in any project that didn't secure their funds is not understandable to me. I remember @broncnutz going crazy when @drugwars changed it's business model and the returns he spent untold Steem to gain became unavailable. This was a new game that had changed it's business model and gameplay features often in the prior weeks, and some folks spent thousands to take advantage of loopholes and returns potentiating massive profiteering that were obviously unsustainable. He actually paid people to play the game with his funds to profit from the returns initially available in DrugWars. He considered playing the game an investment.
It is events like this that so clearly reveal the naivete of Steemers with no prior investing experience that claim to be investors in Steem. By their definition of investing Bernie Madoff was an investor. After all, he profited. It is likely that devs and companies enabling such misunderstandings by not precluding them with nominal code have undertaken tortuous liability by potentiating such advantage being taken of naive stakeholders. It'll be interesting to see how regulatory process proceeds in time. IANAL, so don't rely on my speculations on the matter.
Don't think so. If there is a mechanism permitting delegates to sell their delegations, pretty sure that would be the end of delegation.
It's just that blockchains aren't arising on a new planet where no legal actions have ever been taken. The fact that there's a new layer of process for actions to be taken in doesn't negate the fact that these actions are being taken, and that methods of protecting assets have existed for thousands of years. As we see, there are good reasons for prudence, and prudence applies to blockchains just like it does to anything else. So does tortuous liability.