Bitcoin Forum

Well they did some 300x on their launch and also did an ido on ape terminal. Theres a drama now happening on Twitter revolving the incident of insider allocation on ape terminal where 100 winners that to be sought on ido becomes 10 and all are team wallet.

Plus this tweet on lookonchain analysis.

https://twitter.com/lookonchain/status/1749263187730714688?t=OAs2BU6xfNxWFymb_qLuFA&s=19

Be careful guys some projects really did some heist without us noticing.

I don't know what's so special about this project, but in recent days I've seen a lot of people talking about it a lot. And I also have some doubts about the local community behind the hype about price increases to attract more people to participate. Actually, "the brand name or the implementation idea" is just creating hype. If the way this project is going, I would rather opt for Wrapped Bitcoin for the whole thing.

Thanks for mentioning this, I will also warn my friends about this information.

Well I can say the idea wasnt so bad. However the way they launch the token to a certain suspicious launchpad platform is quite scary. Well ape terminal didnt really shown their winners on their platform which is quite unusual esepcially thry got like 200k wallets or participants. The process is vague and when I saw the drama on Twitter I knew there was something fishy about the satoshiVM sale.

Whenever I see a coin utilizing zing words like bitcoin, Satoshi, etc and attache them to theor coin its typically destined to fail.  If it were a serious project why would they need to use some other successful name to prove theor worth?  That's like opening a new auction site and naming it ebaygold.com or something dumb like that.

Apparently someone did an in depth analysis about SatoshiVM including details about their github and docs of which both of them are basically empty, stark empty. It turns out that the project was actually created by a team of Twitter influences and included all the right buzz words like L2, Bitcoin Interoperability, cross chain and used that to scoop money from unsuspecting people that invested.

Based on what I've seen so far, it actually became public because two parties colluded to rig the sale but one later changed the names of the agreement.

Yeah and based on drama they are now both eyeing with each other, apeterminal vs MacBTVC. I personally followed MAC as he got some good calls and profited with it but dont know if what Ape Terminal saying is true that he is one of thr founder of SatoshiVM or a deal went sour amongst these guys. But Ive seen the wallet of the winners of the IDO and indeed its only 10 persons inspite advertising a 100 participants round. On these arguement I strongly dont like the Ape Terminal method since instead of defending how did the 100 turns into 10 plus a lot of connected idos from previous on these wallet. Technically they rigged the idosz that even now dont want to acknowledged on their telegram. Anways wont trust that one now.

I'm a follower of MacnBtc as well and if the rumors pan out to be true, his followers will lose trust in him. I have taken some of his recent calls like XAI amd all went well except for Auction that he hyped up amd went long with the premise that the SAVM IDO on bounce finance will prop up the price of AUNCTION in futures. Well it didn't and he took the L.
Imo, the rumors would be true and it won't be surprising to me because when people like MacnBTC start to become too powerful, they tend to want more money even at the expense of their users losses.

I mean, why is he hell bent on exposing the Ape Terminal team when he cost SAVM at $1.20 (public disclosure - we know he might have gotten it for free) and that tweet alone pushed the price to as high as $12 IIRC. On the today SAVM went live on Uniswap, I saw that he had the biggest LP and the highest bag.

very surprising drama, even though I took part in the testnet of the project and expected some compensation for my work, but if this was deliberately done to manipulate prices it is still normal. I hope this project shares the results with their testnet users. ;D ;D ;D

Yeah so that one too but didnt ape with it. Cause Im frustrated that didnt win the whitelist slot on SAVM on ape terminal then knowing all these drama it makes me more hate them. Id really think both parties are at fault here and a deal just went sour. They got some different stories and its hard to prove which one is telling the truth. But if ZachXBT will intervene then its a good move. He is known for a good investigation. Im just really think MAC has something to be involved with especially with this tweet.

https://twitter.com/zachxbt/status/1748400551900152311?t=eOz-rD_r86c6RV6cqrUE1A&s=19

Suspicious to send a $10k funds for a donation it seems MAC already get ahead for future investigation haha but Zach donated it and show to public that he doesnt owe any penny to mac. So zach is clear for an investigation. Too bad for Mac that this tweet is so close to the incident it might just prove that he is guilty of something and getting ready to bribe some who will oppose him.

But ape terminal is really something we shouldnt trust anymore after this.

SAVM surprised many (including me) with its price spike within a short period of its listing. It's back to around its original listing price now. Before now, there were several X (Twitter) handles that imitated its original handle. I first heard of this token in one of the telegram groups I belong and the hype was something else. BTW, I don't know why scammers are populating X this day since the Yellow and Blue ticks became a thing. Is Elon Musk simply not interested in checkmating the activities of scammers but only concerns himself with what revenue he gets from the ticks? He seems to be allowing scammers run free on the bird app and this has to stop.

I'm not talking of the supposed scam of SAVM, I'm all about the general scam that happens and is allowed to go on with fake X accounts coming up and imitating original and genuine projects. Taking those accounts down and banning them seems to be delayed by X administration since Elon bought it over. Unlike what speed that was done in the past. Has anyone observed that too?

but i saw some influencers on twitter saying satoshi vm was a fair launch maybe it was a mistake, but in the near or long future satoshi vm will slowly improve.
here the source : https://twitter.com/MacnBTC/status/1750800071325556839

Saw this post, the script for this drama is moving in a positive direction so far. The truth will appear anyway, it’s only a matter of time, confirmations have already begun on X, unfortunately, there is a lot of fraud in the crypto industry, satoshivm was no exception, you should not forget about this when you invest large sums of money.

Wow, that’s crazy. I heard about the ape terminal scandal and how they scammed the IDO participants. It’s really shady and unethical. I hope they get exposed and face the consequences. Thanks for sharing the lookonchain analysis1. It shows how some traders are losing a lot of money on meme coins. I agree, we should be careful and do our own research before investing in any project. There are a lot of scams and pump and dumps in this space. Stay safe and smart on investing in crypto. 🙏

They really didnt scam anyone on ido since no money was taken from the participants its just that they unfair of choosing who will win on the ido which gave a whooping 300x to the project. Imagine the anger of participants who joined expecting a fair raffle draw but diacovered that it is rigged. Of course everyone will be pissed with that.

Exactly. Real project always come up with there personal name, not copying other coin name for there success. That's why thousands of altcoin alway come with the motive of frauding people. That's why you will see a shitcoin bearing the name Bitcoin this or that, btcinu or any other btc related coins. So lets just be mindful and careful on how we do with coin that copy other people's names.

This must be the general fate of projects containing the word satoshi, but it has never been a successful project. I've heard of it a lot in the past few days while surfing the internet, and I thought it would fail, but they still managed to attract a lot of attention, which is interesting to me. Scams of ZK layer2 projects have become so common that I can't even bear to see this name anymore.

It's been a bad day for many newbies and those who gave this project a chance.

This kind of thing had been happening for long and now I am happy that this particular one became obvious because people were able to research how they distributed the tokens to winners. Many of the give away and airdops that are mostly done on Twitter with the claim that they would select winners randomly, most time the winners are mostly part of the team creating new wallet so that people would know that there giveaway is being manipulated. We need to be wise guys!

I heard X (previously Twitter) is down more than 50% from the price he bought it so I'm of the opinion that Elon Musk ia trying to get recoup some of his losses and it's as if he would goto any lengths as long as that goal is accomplished. A while back, he used to be very vocal about things like this but he hasn't been in recent times. I see him retweet and post about X ads and how businesses can take part in it.

Until he stops allowing scammers to use X as a medium to put their scams on the screen of millions of people, it would become the normal for X. The only reason why everyone is still using X without complaints is that no other platform comes close.

That approach will be his fastest way of destroying X. Already, so many people are angered by what X has become with its administration allowing scammers run amok there. It's getting scarier each passing day. It's advisable not to follow any comment apart from first (main) tweets made by any project you're following. Using any details from the comments section, in most cases, gets one on a phisher handle. Anyone can crosscheck this and you will discover what I'm saying. Gosh!

It's because he has swallowed his tongue. He can't speak against what he's indirectly/directly enabling.

You just nailed it there!

Well this could be a foul or insider game. But we are talking about on chain raffle here which is quite hard to cheat especially when someone running a raffle either its an airdrop or giveaway or some sort of launchpad this should be done with utmost honesty also for the sake of their reputations.

The allegation and the data shows its the apeterminal that have done the mess. They took the allocation for themselves and made millions of dollars by selling them. Influencers are the ones who should be blamed because they are the ones who give that ido platform and the project too much attention by shilling them to their community. We should also keep in mind that what those influencers are saying is for their own profit. You should use the information shared by them and then cross-verify before taking any action according to them.