Bitcoin Forum

Yobit has several own coin which has no withdraw or deposit option. And they support investbox returns. If you see their invextbox it will be difficult to say either yobit is exchange site or ponzi site.
https://image.prntscr.com/image/oaw8YjsmRE6D1jvtTOSwpA.png
https://image.prntscr.com/image/RsIyM8ATQ7adv1Pe7BV08A.png
They have many more.
My personal review: yobit as well as which coins/tokens running investbox plan are scam.
Also yobit running pump group several time to time which gives idea to us that it may be scam or they may claim that they have been hacked to stole money which has been deposited by the investor of crypto.

Investbox is one of the feature that Yobit exchanged introduced last year (IIRC) obviously to attract more users. No need to go further about the details of it because in the first place, the reputation of the exchange holding that feature is the concern here. We all know that since Yobit's commencement of operation, they have a very low trust rating from users so obviously any feature here that "promises decent profit" must not be taken seriously.

It's a scam in another form if you know what I mean. Same to those massive coins they advertised in the past (ICO).

A good read up on their investment box.

https://bitcointalk.org/index.php?topic=2069582.0

and..

Most people here do know on whats the current reputation of Yobit since on previous years upto now.They made such promotions but still end up to be a failure.

You mean that they randomly pump their own coins? https://t.co/RIbW7OhKzM, https://yobit.net/en/pump/timer
(Which is in violation with SEC legislation, btw, https://www.sec.gov/fast-answers/answerspumpdumphtm.html )

Not that Yobit would care about that, since they're allegedly registered in an offshore haven somewhere in Russia. (Can't recall exactly where i got that information from..  :((If someone could fill me in that would be great!) )
Also. https://bitcointalk.org/index.php?topic=3054442.0 Any update on this story?

Anyway, there's dozens and dozens of topics regarding YoBit being fraudulent here on the forum. They're definitely up to something, or just have really, really bad customer support.

https://bitcointalk.org/index.php?topic=2574631.0
https://bitcointalk.org/index.php?topic=1530567.0
https://bitcointalk.org/index.php?topic=1810485.0

Well, investbox is a new feature of yobit exchange and I think this feature is imitated of poloniex.
I have a bad experience using this exchange before like stuck coins or lock withdrawal and there are many altcoins that actually made only for pump and dump.
Since Yobit is an exchange site I think we can call it a scammed exchange, not a ponzi because ponzi is like a pyramid scheme.

They aren't up to something as long as they continue to generate profits from noobs not caring about anything. I'm more worried about what happens when they aren't generating profits anymore.

The most likely outcome is that they will either take a run with people's money, or fill up their hot wallets and claim to have been emptied by hackers. In other words, there are only losers here.

Their support is almost nonexistent. Some people have been waiting for months straight without a reply from their support. I'm sure they simply don't care at all and only bother to look through their tickets based on their mood.

How exactly is the feature imitated from poloniex? Does poloniex offer HYIP-esque stuff like this? They're under US regulation, so i highly doubt it. How exactly did you draw this comparison? Poloniex's margin trading? Seems extremely far-fetched to me.

That being said, those investment boxes look so sketchy.

Free coins for doing nothing with no risk involved is basically how they market it..?

Which means that they're either giving out coins that are worth absolutely nothing, or they're running some sort of charity scheme..? (That's not the Yobit i know  ::))

So every dev that can copy & paste can run his/her pyramid scheme facilitated by yobit? Does anyone actually use this? Who the hell wants to end up with all those worthless coins?
How yobit could think that this was something to prioritize over decent customer support baffles me.




Looks extremely scammy.

The investbox isn't even a new feature on YoBit- I recall using the site sometime in 2016 or even 2015, and they had the investbox back then as well. There's plenty of threads on complaints about YoBit here, and there should be no reason why anyone would put any money on this site. There's no verification needed AFAIK, sure, but there are better exchanges out there that don't require verification/ require less verification and have better support and site management. YoBit's about the worst exchange you could possibly choose at this point in time.

It's not Yobit's fault. It's people's fault for still using an exchange that has been scamming people consistently throughout the last couple of years.

Complaining about how much of a scam exchange Yobit is doesn't help. People need to stop using this garbage and they'll vanish automatically. It's all about supply and demand; the demand from noobs is crazy high and Yobit isn't doing anything other than providing people what they ask for. In other words, we'll be stuck with Yobit for many more years to come.  :-\

People's greed and stupidity is really what's feeding scams. I'm sure that Yobit will come up with new stuff that's 100x more ridiculous than their recently introduced coin pump feature.

Yobit is a favorite place for the pump groups and I agree with @1Referee. Just to add: Crypto Exchanges sites like Yobit will become the dinosaur and obsolete if they don't adapt. They will be forgotten like MySpace is today. Let just die this site and don"t use it. There are plenty of others on the WWW it's time for Yobit retirement now after years of loyal services.

true, when I used yoshit, I bought many coins and these coins were worth more than 900 satoshi and fell to 1 satoshi, I had many losses and I stopped using yoshit


It can be both


they will not say this: " they may claim that they have been hacked to stole money which has been deposited by the investor of crypto. "
because they are not regulated, which means they can execute their damn pump and dump scheme

Considering that there have been so many complaints regarding the invest box gimmick, it's pretty clear that it has been attracting a wide variety of rookies thinking it was an easy way to generate passive income.

Those who complain only represent a fraction of those who are or have been using it at least once. It's basically first come first served, but we all know that Yobit itself is the very first where the rest picks up the crumbs.

Decent customer support costs money, while fooling rookies brings in money. For a party as scummy as Yobit is they will always prioritize the latter. I don't even feel sorry for these rookies anymore.

Probably both.

Their site itself is shady enough to be a scam. Their whereabouts and physical location as well as their actual company information is pretty much nonexistent, they've got a reputation of having one of the cworst customer supports consistently, as well as constant issues with deposits and withdrawals that I have experienced myself.

Their investbox could for sure be a ponzi based off the unsustainable returns they are offering, but people are still investing in it. Not to mention the potential for insider trading that "yobit pump" can bring.

I'm not sure why people still use them to be honest. They have been long proven to be untrustworthy, and yet users still continue to use them with no due diligence, until they are scammed.

All the sources I've checked mention that it's registered in Russia. Not that they're great sources, but I literally couldn't find any more information.
Checking the WHOIS of the domain does indicate that they're probably based in Russia

Here's the WHOIS, if anyone is interested:

You just need to add one big scam and big Ponzi. Now they have a new service: Yobit PUMP.
Unfortunately, they are ruining reputation or crypto world



this address is most likely from a domain registrar company in Russia. Owner use privacy protection.

Yeah I know that, I mean it's mentioned in the WHOIS info. It's just that almost every review website also mentioned that they're registered in Russia.
Add the fact that they've used a Russian domain registrar company makes it all the more likely that they're based in Russia.

the investbox is mainly created to encourage their users to "spend" their money. first they have to buy those shitcoins that also happen to be giving high interest rates so they will be in fact spending their money for buying a useless shitcoin that goes down in price.
then they also are forced to gamble in their not-provably-fair dice in order to be eligible for profit. so they will be spending more money here. in the end most of those coins can not be sold because their markets are dead or are falling so after you get a couple of profits you will be left with a worthless token in your hands.

investment option for bitcoin is 0.1% per month not per day. there is another option to invest 50BTC and get 15% weekly but good luck getting your 50BTC out ;)

Why investbox still running? Because every day there are lots of fresh guys entering crypto world with being rich thought in mind. Why not scam on them? They have to pay for the first class in crypto world.  :o :o :o

I thought that the story about Yobit was finished long time ago. There were many scam accusations against them and many of them were actually confirmed so I wonder that there are still people who use Yobit as exchange.
For so many reasons they look like shady company and there are so many other exchanges and investment platforms so everyone has a choice.

Yobit is one exchange site that I know that would send a mail to their users about an impending pump of a coin encouraging people to buy in other to make maximum profit. That action alone makes me lose confidence in their services because I don't see such actions improving the market rather its causing more harm to the entire market. Every of their actions is gradually turning their entire platform to a pump and dump avenue without providing any growth to the industry. In other words, I agree that its more of a Ponzi platform.

Well it depends what you call being a failure. They were around for such a long time right now that it is just unfair to call it a failed exchange. Just go to their website and see how many constant trollbox users there are. Besides that, if their main goal is to just make money, doesn't matter in what way, they're doing that very successfully with their pump and dump coins by attracting newbies and getting money from their pockets.

They are really making money but not as the same path on what we have seen on most reputable or good exchangers as of now.They profit on their own ways
but not really a positive one.Agree that they are here for how many years already and making money but it seems they aren't concern on the impressions of most people onto their exchange.

Too many negative reviews lead to scam accusation which clearly not a trusted exchange to deposit our funds.
Yobit isn't an exchange for ordinary people as too many manipulations especially for shit coins, perfectly suitable for pump and dump groups. No wonder why this exchange still exists due to they still gain profits out of those groups.