Bitcoin Forum

What happened:  Spire-X is promising 1% daily return through staking on their wallet. Anyone knows that it is unrealistically high, therefore it is a scam. On top of that, they have very lucrative bounty campaign, promising 0.1 ETH weekly for some basic job like sharing tweets. I guess their goal is to attract naive and greedy bounty hunters.

Flag Type 1  https://bitcointalk.org/index.php?action=trust;flag=1838

Bounty thread:  https://bitcointalk.org/index.php?topic=5244775.msg54331479#msg54331479
Archive:  https://archive.vn/uELnf

Website:  https://www.spire-x.com/
Archive:  https://archive.fo/yGVCo



According to their offer on the website,  if you stake 0.1 ETH, after 1 day you can withdraw 0.101 ETH, or 1%. Now imagine if you stake let's say 10 or 100 ETH on period of few months.  There is no legit business that can sustain that return.

https://i.postimg.cc/1XsNL73R/spirex.png

It is a ponzi scheme.
They are too lazy and cant create business page. They are operating a personal Facebook account. https://www.facebook.com/Spirexgroup

There is warning and earlier post here about Spire-X:
Spire-x cheats project, and reneges on cautious agreements (https://bitcointalk.org/index.php?topic=5248468.0) But your format is indeed much better for reporting scam project.

Shocking that it was the manager handling the first version of their bounty campaign have some trouble with their team.

Based on his screenshot, its pretty clear those handling the project are not aware how to deal payment properly and insisted to do the payment on their platform. However, as I visited their telegram and read some conversation there, in order to get their rewards on bounty there is a need to deposit first this is a clear hint of scam.

_{I advise those participating on their campaign to stop it cause they just wasting their time on this one.}

---

^{Supported the flag by the way.}

Yeah I saw that post. What I find interesting is that OP never stopped to think how can some project be legit if they offer 1% daily staking in BTC/ETH. Instead, he just kept quiet and worked for them until they naturally screwed him up for money, as that's what scams do.
Same goes for all the those bounty hunters that joined their campaign.They really believe that they will get 0.2 ETH/week for  those silly bounty tasks, not asking themselves whether project is legit or not.

I read that he got paid for posting their ann too so he did received something from them. However, their terms seems to have lack an agreement maybe he thought that the remaining balance for his work will be paid too on eth but the project obviously stalling him and the result is that. OP posting accusation here.

Actually that tempting considering the reward is high. I remember when Bestchange first launched their campaign, many have thought that they will not pay cause no escrow was used and there is too much allegation but it turns out good offer indeed is true. But on the case of Spirex, possibly the 0.2eth per week is true but the process to claim that is unlikely and very shady. Anything that requires deposit funds to claim reward is highly suspicious to be fake or scam.

and they change their fb. spire-x not found now..
becarefull for scam project..

It is definitely a ponzi scheme
There are actually a lot of red flags about the project
Their bounty is suspicious, the staking rewards are relatively high in comparison to average staking rewards

Haha,quiet funny this days. They somehow want to scam people but they are not professional. But here I can see their account is gone or what?
Btw its another big trap!  Be careful everyone!