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Hi, I am one of Investor that been scammed by a company whereby all of my money converted to a token named Elitetreum with code of ELT. Based on what i’ve experienced, the company was originally not a crypto developer, but forcing investors to accept their coin/token is a kind of desperate things or like such.

The Elitetreum is a erc20 token as i can search it in the list of etherscan, it do not have any price yet, and no capital. However, the wallet provided by the company do have changes in price and just i don’t really get it where do they trade their tokens. There are no exchangers trading this token.

This company (ymci.co) offers bonusses like sponsor, pairing and matching, they also offers profits in stocks market such as the IPO’s. After a few years, this company change their program structure, and converting all payments to ELT(Elitetreum) token. I was informed that the token made by a electronics company selling devices and gadgets. They said its popular company named Elitesoft and have many products like power banks, smart phone devices, cables, etc.

Does anyone knows how to identify if this elitetreum-ELT were scam? Because although that all my money converted to this token, i could not even withdraw it to cash via any banks.

I am so sorry to hear your story, I have heard some stories similar to yours, when the company suddenly issue their own token to replace major coin like Bitcoin that they use as payment before, some of them never put their token into exchange and then just turn out to be exit scam, but some of them are actually listed their coin in exchange and after that you might trade your token into Bitcoin or Fiat.

You still have hope though, just keep contacting their support and ask them when their token will be listed on exchange, while doing that. You might gather other people that also invest in that Elitetreum, and you also can make a thread in the Scam Accusation section here.  (https://bitcointalk.org/index.php?board=83.0)

Thanks Bro,
Most investors already tired of sending email to their support, non of us get any reply. And its wallet look creepy, although this token elitetreum a smart contract(erc20) with ETH, the token inside the wallet cannot be converted to ETH either, there are no way holders can convert it to USD or other currency than the token itself, which means wallet to wallet(other investor’s wallet). Other erc20 token that i know, normally will have synchronization with any third party wallet for erc20 token such as the IMtoken, myetherwallet, etc.. it looks like this company just create a website that looks like crypto wallet.

Actually what you experience has been experienced by other crypto users. This is also one reason that the crypto price has fallen, and users are decreasing.
I see there hasn't been any transaction regarding the Elitetreum token. Supplay of these tokens is still 100%. You can search for information based on the telegram group or their official website.

Smart contract : https://etherscan.io/token/0xd494dc0f8cd47b8a07f6809b3b9b4cc82ffabd29
Website : https://www.elitetreum.com/
https://bloxy.info/address/0xd494dc0f8cd47b8a07f6809b3b9b4cc82ffabd29

Try to find out more information, maybe their project has not been completed, and it is possible that your money will be returned.

Move to Scam Accusations (https://bitcointalk.org/index.php?board=83.0) the friend. There will be more people who will help investigate more deeper.
I can't give conclusions quickly, because I haven't explore this case, but I will try.

Ok, i move there. TQ

Is unfortunate, I'm beginning to think that everyone here has their own bad story about how they are scammed and truely, it has caused a big blow in the market, people are skeptical to put their money out because of fear of being scammed.

Actually i am not into crypto thing, but since this company convert my money to their token, i have to search for it. But i could not identify it clearly, and most of it i can’t figure out. Maybe most of new coins/tokens started by scamming people first. Or, tokens become a platform for scammers to escape from paying their clients.

Well, how do you get into scammed? There must be a reason on why you get scammed though. Just be careful of those silly things.

I would understand that this project was SCAM without this title. Just look at its name. They're using copy names when they're on the road.

The name means a lot for a good project. They have already set aside being creative... How incoherent to try to do something using Ethereum's name ...

the developer might works on extensive as preparing different use on customs with chance as attaining field of business with the service on offers as the deliverance and the use with the release on forum might stills put with reference of the customs with anchoring on works on release from the company.

Most people in the crypto world has a experience of being scammed.. Project with a good presentation or team but in the end they will just runaway after their token sale has ended. Even you are very careful in choosing where to invest but in the end you chose the wrong one,, sad to say

That means, good presentation is only to scam people.. like mine, i don’t even know and i didn’t get any presentation on the token or business, this is like trap where i just get in and i don’t even have words nor any decision. Me and other investors have no choices that to accept the tokens. Huh!

I am sorry about this news of you being scammed by all this ICOs that means no good in this community, that's why I always advice people especially newbies to do their assignment before jumping into any investment in this community.
I even prefer they contact a crypto consultant who have great knowledge and experience in the crypto community before embarking on any investment in order to avoid being scammed by people who want to bring us down.

I never heard of this token before.
What kind of ICO is that? I mean, you said they are forcing investors to accept their coins and that kind.of behavior in the first place is kind of  suspicious. If they are already done with their ICO sale and after everything, it did not yet listed in some exchanges. Then no doubt about it. Unfortunstely, you got scammed. Even if you register it in an Erc20 wallet if it wasn't listed in an exchange, it is useles.

I'm so sorry for your lose ,my advice is to be very careful when choosing any ICO in the future ,make sure they are real people and they have a working product backing there project up

this has become one of the lessons for many investors and traders, a scam can happen at any time and any project. so with this project the scam you can make as a lesson.

The name itself looks very scammy, Elitetreum is pretty similar with Electrum or Ethereum, look like a combination.
They just make the name catchy to investors to gain their attention and I am aware that newbies would be easily attracted to this kind.

What can I say now? Maybe, I'll just say sorry for your loss mate and sorry that you have to learn the hard way.

Move on now and just look for better coins that are already in the market now, check in coinmarket.com, you'll find good coins worth to buy right now.

Thanks, everyone... i found this link, shared by one of group members, https://steemit.com/daily/@ava77/daily-active-crypto-scams
Which means, it is a scam token, whereby i’ve been fooled by their sweet promise from previous company, now they’re fooling around with crypto token that looks like and sounds like ethereum. I’m done !!!

Elitetreum is also listed in deadcoins list as scam

https://deadcoins.com/entry/3559/?gvid=1308

Of course, these are scammers. The usual financial pyramid (Ponzi scheme, HYIP). Issuing shittokens is for them one of the ways to show the visibility of real activity.

Hi Gobro7...I have exactly the same story...investing with smci/ymci in 2016...no payout in 2018 then having to invest in ELT....would be great if we could connect and discuss how to proceed in trying to resolve....thanks

Sorry for your loss pal, first time i am hearing about this altcoin and surely by now i expect you to have learn from your mistakes, these projects aren't popular always try to invest in well known projects, if its new project you will need to do good research on them.