Bee Token ... A Big Hype ... whereas they have stolen idea from and claims it to be their own

in scam •  3 months ago

So here i am writing my first blog article. It goes like this, I was evaulating potential icos to invest in 2018, and i came across BeeToken which brings on Air BnB sort of Peer-to-Peer concept for property owners to share their homes and earn rewards and payment in form of BeeTokens.

Therefore, i joined their telegram channel. I wanted to invest in pre-sale, however they had a very strict criteria of investor credibility and 50 ETH as minimum purchase. Hence i have to wait to contribute in bee token after 31st Jan 2018 where they open the sale to everyone else with minimum purchase of 0.1 ETH.

I was happy i got this time to research further and that is when i came across that had completed its tokensale back in Nov 2017, and their marketplace is already live. was developed long before beetoken site even existed.*/ A quick check shows that their site was launched after tokensale

Beetoken apart from copying most of Lockchain whitepaper script, have stolen their SLOGAN as well.

Upon inquiring this with bee token, i was harshly bashed that i should go and invest in LOCKCHAIN and hang out with them followed by an instantaneous BLOCK from their telegram channel.

I had even sent several messages to admin with no response to "why have they copied / stolen someone else's idea", and what is their stance about it.

Beetoken claim they are "the first" which means they are practically lying their investors as well as giving 60% - 100% bonus to friends, family, advisors. This by all means is an unfair practice since all other icos do not go beyond threshold of 30% rewarding bonus for the team. This is certainly a scheme where the techies in the firm want to get rich, and small investors would get burn who contribute in the project starting 31st Jan 2018.

Proof from BeeToken's Telegram Channel:
2018-01-03 23.34.16.jpg

Piece of Advice:
Guys be watch full of this token as the team is arrogant, and most likely they will be sued by and eventually lose in legal battle to them, and people who have invested would lose their life long saving as a result.

Scornfully, Bee token that is ONLY allowing accredited investors to invest in their token are themselves not complying with being honest and credible.

Look below the response to make a conclusion for your self.

Screen Shot 2018-01-01 at 4.45.06 PM.png

BeeToken's Creativity Score : Well a Big Zero !!

Screen Shot 2018-01-01 at 7.39.35 PM.png

What i found even more funnier, was the profile of BeeToken CEO ..Like Seriously ???

Will leave it open for audience to comprehend and use their head to determine if this ICO is worth investing in.


Updates: (02/01/2018). The more I dig on the CEO's profile, the more comforting it gets for me that i was saved from investing in this ICO. I was searching more about Johnathan Chou profile, and i came across his interesting posts on where as per his comments his designation in Uber was of a Software Engineer back in Aug 2016. I find it strange that he now heads BeeToken as a CEO. !!



My BeeToken ICO Review:

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HEY, thank you for your fair article!

IT IS really important to stop the SCAM with ICOs , because they are making a bad name for the Blockchain economy.

I AM GLAD , that I am not the only one who noticed some fishy stuffs about the BEE ICO...
I have also some screenshots who are exposing BEE ICO may be a big SCAM, or at least something is wrong with it...

They all are very arrogant, untransparent with deleting every second question and even changed their slogan hours after beeing exposed... FOR ME : DEF. NO

If you need this all matterial as aprovement to post it here , please contact me :)

Best Regards


Thank you for your comment. Please forward the material to along with a brief incident that happened with you.

Noting that i will post it up giving you credits for it to be fair and square, mentioning the content came from you


I made an article also about it :)
also am new to steem and will take a bit longer , but I will send all you need soon :)

Dont forget about rentberry. But crypto world is tough and full of competition so we will see who is gonna survive.


yes crypto world is tough ... hard to grasp for a normal investor due to it being decentralized. The chances of small investor getting their investment burnt is very high as a result. Crypto world is full of tech bots trying to read market signal and thus triggering automatic buy/sell order based on market dynamics.

This also makes the entire space highly volatile, and one should not invest more than 10-20% of his total savings in crypto at least in my opinion, funds he/she will not be requiring for alteast a year.

Additionally, you are always in risk of losing funds as a result of hacked exchanges, which is becoming quite common, or end up losing your funds from private wallet being victimized of losing your private key to phishing sites.


This is all true. With great risk comes great reward. However I believe it is the future.


indeed it solves issues that have caused with non-existent governments, communication barriers between countries, institutions down playing on customers, lack of transparency, legitimacy, etc. It certainly serves a purpose and this is something that should have been discovered much earlier. :P


Hi, what about Rentberry? Is there anything wrong about their Project? Thanks


The @OriginalWorks bot has determined this post by @raheal.akh to be original material and upvoted it!

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Thanks for this post. I was really wanting to invest but after reading this I think I’ll do some more research first.
I appreciate the heads up!


If interested Look in investing with LOCKCHAIN. They are the pioneers in this have a ready product and will be adding 100K properties within a month span. 600+ properties already listed on their portal.

Thanks for the Info!!! The project hyped so much and it is very important that the potential investors have the complete overview on potential risks. Will take a look on lockchain...

Great article I was going to invest on their ICO. Got their KYC email last night. I thought I was gonna do it. Keep up the great articles!

They might have copied the idea of Lockchain but they also developed it further. They take the decentralization aspect one level further. Dispute resolution, review system profile and authentication is done in a decentralized manner. As one can see from the image Lockchain only uses the blockchain for the listings and the payment.

Bildschirmfoto 2018-01-20 um 20.02.00.png

I'm a great fan of the Origin Protocol (, which provides a library for developers to create decentralized market places. Beetoken is built on top of it and benefits from other decentralized economies, since they have one common reputation system.


I would not argue over something, i have not done my research about i.e originprotocol.

However, fewer people know that LockChain Engine automatically Buy/sells Fiat into LOC at the time of order placement, incase the buyer does not have LOC. This is a unique model in itself, where people still prefer to make payments using cards and the trend will continue until majority of customers fill up their accounts with LOC.

At this moment the concern is in BeeToken's team's capability of delivering what they are promising. So far they are not truthful either with the investors by rewarding unfairly at an unprecedented levels, and spending investors money lavishly on creating media hype. I see them soon be joining among the list of Bitconnect, TRX unless they change their strategy.


thanks for sharing, I believe this article further supports what i had written 3 weeks ago.

It's sad to hear but indeed it did happen, BeeToken got badly hacked as well as their official telegram channel, and 700 ETH worth tokens are gone as we speak. All customer data who shared their details as part of KYC is out open. Risky stuff. But then i did inform all people to avoid this SCAM coin. Question: How did Jonathan CEO's Security background helped in saving them from being hacked. Ironic But Rest in Peace Bee whatever for now !

Glad I found this article. Saw the mess that went down with Bee token yesterday and am really glad I had nothing to do with it. Will look into Lockchain as it seems like a great project.


LockChain certainly is as it plans on disrupting both alike and Aribnb. Have a Solid team answering the granular details about the project and already have a working alpha product ( with about 600+ properties and 100,000 properties to be listed in Month of Feb 2018.

Thanks for investing time in looking a bit deeper into this project. In times like these, when scam coins jump up the ladder, it's of upmost importance to know what it is exactly, where you invest your money.

I've also looked into the project and especially checked some of the details you dug up to see if your concerns are legit. There's a few things that need clarification as some of your points don't hold up in my opinion:

Lockchain was first

You're right, lockchain was first. However, there's enough space for multiple companies doing the same thing. It's also common in emerging markets that there's a multitude of contrahends contesting over market share. When looking at AMD and Intel, nobody would argue over who was first in the market. It's simply no argument at all and the stronger will prevail.

This is also the reason why a lawsuit would be pointless. As long as you don't hold a patent on something, you can't protect an idea.

On one point I agree with you: Having the "0% Commissions" slogan is a bit more than a coincidence. They've definitely adapted it from Lockchain and it's a pity that they're not more creative than that.

Beetoken copied Lockchain's whitepaper

First of all, if you claim such a thing, you'd better deliver hard evidence on this matter. You might have heard of the controversy in the SOMN vs. DADI debate. It's been made clear by the community, with a little help from plagiarism tools, that those two whitepapers overlap.

I've downloaded both papers, I've copied their text and put them in every plagiarism engine I could find. Apart from two rather generic sentences, there has been no result in terms of overlaps.

The role of Johnathan Chou at Uber

All your observations seem to be true. On the coins website, he's described as Lead in Security and Fraud, whereas on his Quora profile he's denoted as software engineer. Well that doesn't add up, right? There's another link we can follow. On his linkedin profile the riddle is solved:

Tech Lead on Fraud & Machine Learning / Cyber Security department.

Turns out, the division he was working on was Security & Fraud, while the role he executed was that of a tech lead in software engingeering.

Channel ban

To be fair, you've been officially warned before the ban. I must say that you've rather been on the aggressive side and had a clear opinion in your head instead of having questions as you stated in the chat.
Together with an awful lot of mistakes and implying that the project is a total scam, I can understand that you've been kicked after one clear warning. He's been rude as a reaction, which shouldn't have happened.

I've done my reasearch because I'm honestly interested in the project and not because I'm invested in it or have ties to the members. I hope I could add to the discussion and correct some of the points that I found out were unsubstantial or unfounded.


Just by reading an other article below it should be enough for you to realize most of the points i have highlighted above.

My observation along with any other investors is, BeeToken's team is full of arrogant Dolts who are just in the ICO to make quick money and prolly look for some other venture after BeeToken's demise. Trust me read Jonathan profile and his life spending routine. you would come to same conclusion too. Being in the neighborhood of rich lads with bad money spending habits. Btw i was banned from reddit channel as well from their medium channel as well. However, at the end of the day, its your money, and you are the best person to spend it the way you like. My only argument to that is, you can't burn it the same way for the investors.

Also, they have modified their white paper afterwards when they had been exposed badly.


Also, they have modified their white paper afterwards when they had been exposed badly.

Can you show me where they have been exposed? I haven't found anything on the internet. There should be an article, a forum post or something on steemit, right?

Why don't you help me and dig this up for me? If this is true, it will certainly affect my opinion on bee token.


I can fully understand and accept that you are supporting this project... To be honest I was about to invest 8000 $, but really after done my research and tried to ask my questions , I received only ignor and disrespectfulness... This type of arrogance isn't very attractive to me personally... I felt like: I am going to buy me a new car and the dealer is saying to me '' If you want to know more about FORD, go to ask Chevrolet'' Thatswhy I started my own deeper research and found another questionable facts... I prefer to skip the big ICO_dumb and to invest later _ IF_ after all...