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Title: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 02:00:40 PM Dear Bitcoiners
I hope your well. My name is Malcolm O and I am running the start up Cryptovest Financial Services https://cryptostocks.com/securities/126 The disclaimer This list is for educational purposes only. It is not intended to cause slander upon any of the companies , businesses or people listed here. Cryptovest, Bit4ME and the Little Phoenix Investment Group have no views or opinions in regards to the validity of the accusations posted here. The list is user generated and users of bitcoin talk are the accusers or defenders of the companies listed here. All users are encouraged to do their own research before coming to a decision on the companies found in this list. Where possible that will be available in the details section. This list is intended to encourage crypto investors to take more time before making investments into companies. While I will do my best to moderate the list with the little spare time I have but I take no responsibility of its accuracy or claims. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose. The disclaimer Other lists https://bitcointalk.org/index.php?topic=651315.0 I am trying to compile a list of the companies that have failed in the crypto space specifically ones that have raised funds and then had a problem loosing their investors funds. Thank you in advanced ill give a reward to everyone who adds a new company to the list. One reward for each company found and details of the incident or links to the details provided. I would appreciate the help I know a lot of exchanges over the years, mining companies and small businesses have gone under or forced buy backs. Please give details name of operator - location - amount lost ect - date set up anything else u can remember ( This is a working list I will update it weekly as you give me more suggestions) examples of corporate failures ( more suggestions welcome) (long start - over 1-2 years and still not operating) corporate failure - Bankruptcy Investor fraud (forced buy back below market value or Forced buy backs Internal Fraud - stolen funds Poor management Bad practice poor ethical practice/standards Company Name - Type of Failure - details - -accused Source NEO & BEE - Fraud/ loss of holdings audio note on NEO (http://www.phoenixinvestor.co.uk/resources/Note%20on%20NEO.wma) MT GOX - Fraud/ loss of holdings LABCOIN - internal fraud - ( details 7000 to 10,000 BTC -accused Alberto Armandi, Fabrizio Tatti, Alessia Tatti, Daniel Larsson, aka theSwede75 who is presently press officer at Cointerra reference (http://www.reddit.com/r/Bitcoin/comments/1ncckq/labcoin_has_been_outed_as_a_scam_run_by_notorious/)) - Reported by user E Sam Active Mining - internal fraud - incompetence Reported by user steyehn updated by damiano bASIC-Mining - CreativeX ran off with funds Reported by user damiano COG - Garr mismanaged Reported by user damiano Kylemax Studios - Owner gambled away IPO money. Reported by user MrWDunne Vircurex - miss management - loss of more than 1000 btc Reported by user anasazi JDBIF from cryptostocks - miss management / fraud -( details https://bitcointalk.org/index.php?topic=504126.0) Reported by user jonsi BitcoinBourse: - Forced by back BitcoinBourse/ miss management ( details https://bitcointalk.org/index.php?topic=361852.0 https://bitcointalk.org/index.php?topic=346503.0 ) Reported by user jonsi +1 by user MrWDunne Bakewell: -(details https://bitcointalk.org/index.php?topic=104489.0 ) Reported by user jonsi Kenilworth Exploration (Australian Mineral Exploration): https://bitcointalk.org/index.php?topic=200701.40 Reported by user jonsi Feedzebirds.com Internal fraud ( funds used to fund own site, stop paying out dividends ) Bad management - focus on other personal sites Ipo- may 24, 2012 Joint project of erik voorhees and ira miller Erik voorhees- currently being investigated Reported by user steyehn WeExchange/Ukyo -(details https://bitcointalk.org/index.php?topic=337523.0) Reported by user thehun Ziggap (details (Bitfunder) Stolen funds -https://bitcointa.lk/threads/either-ryan-schreiber-founder-of-ziggap-has-gone-off-the-deep-end-or.112868/ Reported by user the Newar Asic Coop (GLBSE / Bitfunder (-details Stolen funds / equipment https://bitcointalk.org/index.php?topic=88008.0) Reported by user Newar http://mybitcointrade.de/ (-details Stolen funds - https://bitcointalk.org/index.php?topic=115572.5) Reported by user Newar BTCQuick - Hacked/Incompetence/Shut down without warning - Jerrod Bunce Reported by user adept Deprived Mining Speculation (DMS) - (-details Lost BTC: ~415. Operator of the fund ran off with the money Link to thread: https://bitcointalk.org/index.php?topic=228327.0) Reported by user Bonam FAS, FASBIT, and GRID (-details listed on Cryptostocks Early warning signs https://bitcointalk.org/index.php?topic=457431.0) Reported by user nwfella Disputed cases BMF - incompetence/ internal fraud (DISPUTED) - ( details https://bitcointa.lk/threads/bmf-has-lost-access-to-its-wallet.321036/ ) Reported by user damiano updated by user fluffypony BMF - incompetence/ internal fraud (-details user claims to have only lost 800 usd of clients money ) originally reported by Reported by user damiano disputed by user Usagi pending details Inputs.io - trade fortress Reported by user damiano coinlenders- tradefortress Reported by user damiano btc invest Reported by user damiano WeExchange/Ukyo Reported by user thehun Title: Re: List of fraudulent compaines and corporate failures Post by: E.Sam on June 07, 2014, 02:26:02 PM LABCOIN - internal fraud - 7000 to 10,000 BTC - Alberto Armandi, Fabrizio Tatti, Alessia Tatti, Daniel Larsson (aka theSwede75 who is presently press officer at Cointerra) - Reference (http://www.reddit.com/r/Bitcoin/comments/1ncckq/labcoin_has_been_outed_as_a_scam_run_by_notorious/)
Title: Re: List of fraudulent compaines and corporate failures Post by: steyehn on June 07, 2014, 02:47:24 PM Active Mining - internal fraud
Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 03:00:18 PM LABCOIN - internal fraud Please give details name of operator - location - amount lost ect - date set up anything u can remember Title: Re: List of fraudulent compaines and corporate failures Post by: damiano on June 07, 2014, 03:29:55 PM I'd update active mining and add just "incompetence"
Title: Re: List of fraudulent compaines and corporate failures Post by: damiano on June 07, 2014, 03:30:33 PM BMF - incompetence
Title: Re: List of fraudulent compaines and corporate failures Post by: RiverBoatBTC on June 07, 2014, 03:31:31 PM Mpex exchange fruad
They fake trade volumes, no way they are doing 700btc a day in trade. Title: Re: List of fraudulent compaines and corporate failures Post by: damiano on June 07, 2014, 03:31:49 PM bASIC-Mining - CreativeX ran off with funds
COG - Garr mismanaged Title: Re: List of fraudulent compaines and corporate failures Post by: damiano on June 07, 2014, 03:35:11 PM Inputs.io - trade fortress
Title: Re: List of fraudulent compaines and corporate failures Post by: RiverBoatBTC on June 07, 2014, 03:36:04 PM coinlenders- tradefortress as well I belive
Title: Re: List of fraudulent compaines and corporate failures Post by: damiano on June 07, 2014, 03:37:01 PM coinlenders- tradefortress as well I belive Also btc invest ? I think The list is endless Title: Re: List of fraudulent compaines and corporate failures Post by: MrWDunne on June 07, 2014, 03:40:58 PM Kylemax Studios - Owner gambled away IPO money.
Title: Re: List of fraudulent compaines and corporate failures Post by: Entropy-uc on June 07, 2014, 03:46:44 PM Use the search feature.
Someone made a list of active stocks and their market caps about a year ago. Run through the list and you will find that the operators of nearly all of them defaulted and ran with the money in some fashion. Then go back and find all the listings for GLBSE from the year before that, again you'll find that 95% wiped out their 'investors'. Then you can search for mining bonds; basically every operator of mining bonds defaults at some stage. After you are done your research, you might as well fold up your exchange as you will realize that all you are doing is enabling fraud. Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 03:53:46 PM Use the search feature. Someone made a list of active stocks and their market caps about a year ago. Run through the list and you will find that the operators of nearly all of them defaulted and ran with the money in some fashion. Then go back and find all the listings for GLBSE from the year before that, again you'll find that 95% wiped out their 'investors'. Then you can search for mining bonds; basically every operator of mining bonds defaults at some stage. After you are done your research, you might as well fold up your exchange as you will realize that all you are doing is enabling fraud. A list of active stocks doesn't always mean fraud or mis management. Thanks for the heads up on mining bonds ^^ ill take a look. Thanks if you find the list for me or the post i would really appreciate it. I will give you each a reward for each company you find. As much detail as possible must be provided. Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: Entropy-uc on June 07, 2014, 03:57:07 PM Use the search feature. Someone made a list of active stocks and their market caps about a year ago. Run through the list and you will find that the operators of nearly all of them defaulted and ran with the money in some fashion. Then go back and find all the listings for GLBSE from the year before that, again you'll find that 95% wiped out their 'investors'. Then you can search for mining bonds; basically every operator of mining bonds defaults at some stage. After you are done your research, you might as well fold up your exchange as you will realize that all you are doing is enabling fraud. A list of active stocks doesn't always mean fraud or mis management. Since those 'active' stocks are all gone now, it means exactly that. A small handful of them refunded investors, a couple are still in the process of bleeding their investors dry. The rest wiped out their bagholders. Title: Re: List of fraudulent compaines and corporate failures Post by: anasazi on June 07, 2014, 04:21:58 PM Cryptostocks/Vircurex. Accusations ranging from shady business practices too outright scam. It's more or less clearly documented in various threads on this forum.
Title: Re: List of fraudulent compaines and corporate failures Post by: MrWDunne on June 07, 2014, 05:17:15 PM Cryptostocks/Vircurex. Accusations ranging from shady business practices too outright scam. It's more or less clearly documented in various threads on this forum. Vircurex maybe, definitely a screw up though.Cryptostocks, while has a lot of scams on there is a generally functional site. Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 05:23:25 PM Cryptostocks/Vircurex. Accusations ranging from shady business practices too outright scam. It's more or less clearly documented in various threads on this forum. Dear Anasazi, Please give full details for your reward. We are listed on Cryptostocks ourselves but I have heard that they lost over 2000 btc on Vicurex to be edible for the prizes u need to be the one to give the details. Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 05:26:37 PM Mpex exchange fruad They fake trade volumes, no way they are doing 700btc a day in trade. Dear RiverBoatBTC, U need some basic proof for me so i can add it to the list. Also many exchange tinker with volumes so I don't know if i can count that as fraud in such an unregulated market its just bad practice.... hmmm Bad practice... I will make a new category ^^ Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 05:33:04 PM coinlenders- tradefortress as well I belive Also btc invest ? I think The list is endless Dear Damiano, Please give me as many as you can find , pref the date , owners , amount lost as well. I will give you a reward for each one you find if the list is endless you will get a much bigger reward as thanks!!! I really appreciate it. Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 05:36:12 PM Use the search feature. Someone made a list of active stocks and their market caps about a year ago. Run through the list and you will find that the operators of nearly all of them defaulted and ran with the money in some fashion. Then go back and find all the listings for GLBSE from the year before that, again you'll find that 95% wiped out their 'investors'. Then you can search for mining bonds; basically every operator of mining bonds defaults at some stage. After you are done your research, you might as well fold up your exchange as you will realize that all you are doing is enabling fraud. A list of active stocks doesn't always mean fraud or mis management. Since those 'active' stocks are all gone now, it means exactly that. A small handful of them refunded investors, a couple are still in the process of bleeding their investors dry. The rest wiped out their bagholders. Owch. But for my list that's fantastic im begging you if you have any of the posts please give them to me so I can add them here. I want to create a detailed list I think that way people will be more likely to avoid fraudulent companies in the future or do additional due diligence before parting with there money. As I said I will reward everyone that makes an effort to help me build this list. Kr, Malcolm O Thanks in advanced. Title: Re: List of fraudulent compaines and corporate failures Post by: RiverBoatBTC on June 07, 2014, 05:37:19 PM Mpex exchange fruad They fake trade volumes, no way they are doing 700btc a day in trade. Dear RiverBoatBTC, U need some basic proof for me so i can add it to the list. Also many exchange tinker with volumes so I don't know if i can count that as fraud in such an unregulated market its just bad practice.... hmmm Bad practice... I will make a new category ^^ Well in that case you need hard proof for all of them or it is slander and a crime. Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 05:39:53 PM Mpex exchange fruad They fake trade volumes, no way they are doing 700btc a day in trade. Dear RiverBoatBTC, U need some basic proof for me so i can add it to the list. Also many exchange tinker with volumes so I don't know if i can count that as fraud in such an unregulated market its just bad practice.... hmmm Bad practice... I will make a new category ^^ Well in that case you need hard proof for all of them or it is slander and a crime. Dear River, I just meant a post or two with others highlighting the same thing and I just made a new category in your honor! Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: fluffypony on June 07, 2014, 05:43:10 PM BMF - incompetence Any minute now Usagi is going to accuse you, too, of not having the mental capacity to understand is great masterful plan. Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 05:45:51 PM Dear Fluff any more details on BMF for me ?
Title: Re: List of fraudulent compaines and corporate failures Post by: RiverBoatBTC on June 07, 2014, 05:48:25 PM what are you gonna do with this info you are collecting by the way?
Title: Re: List of fraudulent compaines and corporate failures Post by: fluffypony on June 07, 2014, 05:50:06 PM Mpex exchange fruad They fake trade volumes, no way they are doing 700btc a day in trade. I don't know if I can agree with this, as my MPEX trades (around the 5-15 BTC mark) have immediately shown up in the order book and have been relayed by the IRC bot. Regardless, proving false trade volumes is exceedingly difficult, if this thread continues it should be outright and blatant fraud, not a list of "people who were mean to me". Title: Re: List of fraudulent compaines and corporate failures Post by: fluffypony on June 07, 2014, 05:51:13 PM Dear Fluff any more details on BMF for me ? Sure, here's a starting point: https://bitcointa.lk/threads/bmf-has-lost-access-to-its-wallet.321036/ Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 05:52:30 PM Mpex exchange fruad They fake trade volumes, no way they are doing 700btc a day in trade. I don't know if I can agree with this, as my MPEX trades (around the 5-15 BTC mark) have immediately shown up in the order book and have been relayed by the IRC bot. Regardless, proving false trade volumes is exceedingly difficult, if this thread continues it should be outright and blatant fraud, not a list of "people who were mean to me". I agree with you actually. Thanks for the feedback. I will still allow people to challenge bad practice but i'll just leave it in the thread instead of the list. Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: damiano on June 07, 2014, 08:27:16 PM BMF - incompetence Any minute now Usagi is going to accuse you, too, of not having the mental capacity to understand is great masterful plan. Hahaah oh welll! Title: Re: List of fraudulent compaines and corporate failures Post by: thehun on June 07, 2014, 09:40:23 PM Nobody mentioned WeExchange/Ukyo yet?
Title: Re: List of fraudulent compaines and corporate failures Post by: AcoinL.L.C on June 07, 2014, 09:48:11 PM Mpex exchange fruad They fake trade volumes, no way they are doing 700btc a day in trade. I don't know if I can agree with this, as my MPEX trades (around the 5-15 BTC mark) have immediately shown up in the order book and have been relayed by the IRC bot. Regardless, proving false trade volumes is exceedingly difficult, if this thread continues it should be outright and blatant fraud, not a list of "people who were mean to me". The site's own shares are nearly its entire volume. What a sham. Title: Re: List of fraudulent compaines and corporate failures Post by: fluffypony on June 07, 2014, 10:44:18 PM Mpex exchange fruad They fake trade volumes, no way they are doing 700btc a day in trade. I don't know if I can agree with this, as my MPEX trades (around the 5-15 BTC mark) have immediately shown up in the order book and have been relayed by the IRC bot. Regardless, proving false trade volumes is exceedingly difficult, if this thread continues it should be outright and blatant fraud, not a list of "people who were mean to me". The site's own shares are nearly its entire volume. What a sham. Again - that doesn't flip up to "fraud" or "failure". They are entitled to that. Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 07, 2014, 10:56:20 PM Nobody mentioned WeExchange/Ukyo yet? Please give details or a link I will add it to the list Kr, M Title: Re: List of fraudulent compaines and corporate failures Post by: jonsi on June 07, 2014, 10:57:26 PM JDBIF from cryptostocks: https://bitcointalk.org/index.php?topic=504126.0
Title: Re: List of fraudulent compaines and corporate failures Post by: damiano on June 07, 2014, 10:58:43 PM Nobody mentioned WeExchange/Ukyo yet? I was gonna mention it earlier but I got carried away with the other ones ;) Title: Re: List of fraudulent compaines and corporate failures Post by: jonsi on June 07, 2014, 11:32:46 PM BitcoinBourse:
https://bitcointalk.org/index.php?topic=361852.0 https://bitcointalk.org/index.php?topic=346503.0 Title: Re: List of fraudulent compaines and corporate failures Post by: MrWDunne on June 07, 2014, 11:44:53 PM BitcoinBourse: +1https://bitcointalk.org/index.php?topic=361852.0 https://bitcointalk.org/index.php?topic=346503.0 Title: Re: List of fraudulent compaines and corporate failures Post by: MrWDunne on June 07, 2014, 11:46:45 PM Kylemax Studios - Owner gambled away IPO money. BumpTitle: Re: List of fraudulent compaines and corporate failures Post by: jonsi on June 08, 2014, 12:41:17 AM Bakewell: https://bitcointalk.org/index.php?topic=104489.0
Title: Re: List of fraudulent compaines and corporate failures Post by: jonsi on June 08, 2014, 12:45:13 AM Kenilworth Exploration (Australian Mineral Exploration):
https://bitcointalk.org/index.php?topic=200701.0 https://bitcointalk.org/index.php?topic=222746.0 Title: Re: List of fraudulent compaines and corporate failures Post by: steyehn on June 08, 2014, 04:23:13 AM Feedzebirds.com
Ipo- may 24, 2012 Internal fraud ( funds used to fund own site, stop paying out dividends ) Bad management - focus on other personal sites Joint project of erik voorhees and ira miller Erik voorhees- currently being investigated Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 08, 2014, 07:31:00 AM what are you gonna do with this info you are collecting by the way? Dear River boat :) GOOD QUESTION. I will reveal all once the list is mature. At the moment it will serve as a warning and a reminder to prospective investors to do proper research on companies before they invest. Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: MrWDunne on June 08, 2014, 10:29:08 AM what are you gonna do with this info you are collecting by the way? Dear River boat :) GOOD QUESTION. I will reveal all once the list is mature. At the moment it will serve as a warning and a reminder to prospective investors to do proper research on companies before they invest. Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: thehun on June 09, 2014, 02:20:39 AM Nobody mentioned WeExchange/Ukyo yet? Please give details or a link I will add it to the list Kr, M Here are some links Original Bitfunder thread: https://bitcointalk.org/index.php?topic=130117.0 The fall of Ukyo: https://bitcointalk.org/index.php?topic=316546.0 https://bitcointalk.org/index.php?topic=342122.0 The 94% con: https://bitcointalk.org/index.php?topic=337523.0 Thread started by another scammer, Danny Brewster (Neo-Bee) saying he would "solve" the case: https://bitcointalk.org/index.php?topic=348468.0 Title: Re: List of fraudulent compaines and corporate failures Post by: Newar on June 09, 2014, 02:24:56 PM Just a quick one: Ziggap (Bitfunder) Stolen funds https://bitcointa.lk/threads/either-ryan-schreiber-founder-of-ziggap-has-gone-off-the-deep-end-or.112868/ Asic Coop (GLBSE / Bitfunder Stolen funds / equipment https://bitcointalk.org/index.php?topic=88008.0 http://mybitcointrade.de/ (which was in part also a "stock exchange") Stolen funds https://bitcointalk.org/index.php?topic=115572.5 Title: Re: List of fraudulent compaines and corporate failures Post by: adept on June 10, 2014, 11:53:51 PM BTCQuick - Hacked/Incompetence/Shut down without warning - Jerrod Bunce
Title: Re: List of fraudulent compaines and corporate failures Post by: Bonam on June 11, 2014, 02:17:08 AM Deprived Mining Speculation (DMS) - Operator of the fund ran off with the money / became a drunk
Link to thread: https://bitcointalk.org/index.php?topic=228327.0 Lost BTC: ~415 Title: Re: List of fraudulent compaines and corporate failures Post by: railzand on June 11, 2014, 08:23:17 PM http://trilema.com/2012/the-bitcoin-drama-timeline/
trilema documents lots of the scams there are also the scam asic manufacturers: BFL, Active/Virtual, HashFast, Cointerra, Bitmine... Title: Re: List of fraudulent compaines and corporate failures Post by: nwfella on June 11, 2014, 08:58:39 PM Let's not forget the three assets on CS run by fasbit as well.
FAS, FASBIT, and GRID https://bitcointalk.org/index.php?topic=457431.0 *Looks like user Thy had this fella pegged since the first part of February! Title: Re: List of fraudulent compaines and corporate failures Post by: E.Sam on June 12, 2014, 04:30:44 PM what are you gonna do with this info you are collecting by the way? Dear River boat :) GOOD QUESTION. I will reveal all once the list is mature. At the moment it will serve as a warning and a reminder to prospective investors to do proper research on companies before they invest. Kr, Malcolm O Hum, did you consider making a list of the successful ones? That would take no time Title: Re: List of fraudulent compaines and corporate failures Post by: nwfella on June 12, 2014, 04:43:18 PM what are you gonna do with this info you are collecting by the way? Dear River boat :) GOOD QUESTION. I will reveal all once the list is mature. At the moment it will serve as a warning and a reminder to prospective investors to do proper research on companies before they invest. Kr, Malcolm O Hum, did you consider making a list of the successful ones? That would take no time Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 12, 2014, 09:05:50 PM what are you gonna do with this info you are collecting by the way? Dear River boat :) GOOD QUESTION. I will reveal all once the list is mature. At the moment it will serve as a warning and a reminder to prospective investors to do proper research on companies before they invest. Kr, Malcolm O Hum, did you consider making a list of the successful ones? That would take no time HAHAHAH i didn't notice this comment one thing at a time. I like the challenge of this one more. But it makes sense to do both. Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: andreasan on June 12, 2014, 11:26:59 PM It would be quite constructive to list success stories and study common characteristics of their approach, team, product/service, e.t.c.
Title: Re: List of fraudulent compaines and corporate failures Post by: ShakyhandsBTCer on June 13, 2014, 03:57:44 AM It would be quite constructive to list success stories and study common characteristics of their approach, team, product/service, e.t.c. I agree, there is a posting somewhere with a list of all the bitcoin related thefts and losses it is presented in a format that is very easy to read. Do you think that it is appropriate to list fraud with failures? One is the company intentionally stealing funds while the other is simply a failed business (most small businesses fail within 5 years). Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 13, 2014, 06:42:52 AM It would be quite constructive to list success stories and study common characteristics of their approach, team, product/service, e.t.c. I agree, there is a posting somewhere with a list of all the bitcoin related thefts and losses it is presented in a format that is very easy to read. Do you think that it is appropriate to list fraud with failures? One is the company intentionally stealing funds while the other is simply a failed business (most small businesses fail within 5 years). I am trying and I think it will improve as we go along (I will get someone else to make it look pretty down the line) so please keep the suggestions coming in. In regards to frauds and failures at this stage when the crypto market is so new i think its viable to lump them together in many cases its difficult to separate both. For example 50% of the cases showed to me displayed some kind of internal or external fraud that assisted with their companies failure. Kind Regards, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 13, 2014, 07:20:45 AM Nobody mentioned WeExchange/Ukyo yet? Please give details or a link I will add it to the list Kr, M Here are some links Original Bitfunder thread: https://bitcointalk.org/index.php?topic=130117.0 The fall of Ukyo: https://bitcointalk.org/index.php?topic=316546.0 https://bitcointalk.org/index.php?topic=342122.0 The 94% con: https://bitcointalk.org/index.php?topic=337523.0 Thread started by another scammer, Danny Brewster (Neo-Bee) saying he would "solve" the case: https://bitcointalk.org/index.php?topic=348468.0 Very sad Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 13, 2014, 07:30:53 AM http://trilema.com/2012/the-bitcoin-drama-timeline/ trilema documents lots of the scams there are also the scam asic manufacturers: BFL, Active/Virtual, HashFast, Cointerra, Bitmine... Thanks for the heads up. If you have specific companies with details post them here when i have time I will do my own additional digging but untill then if you find anything else let me know. Thanks again for the heads up. Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 13, 2014, 07:36:43 AM It would be quite constructive to list success stories and study common characteristics of their approach, team, product/service, e.t.c. I agree, there is a posting somewhere with a list of all the bitcoin related thefts and losses it is presented in a format that is very easy to read. Do you think that it is appropriate to list fraud with failures? One is the company intentionally stealing funds while the other is simply a failed business (most small businesses fail within 5 years). Somewhere where is it ? Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: E.Sam on June 13, 2014, 04:33:48 PM http://trilema.com/2012/the-bitcoin-drama-timeline/ trilema documents lots of the scams there are also the scam asic manufacturers: BFL, Active/Virtual, HashFast, Cointerra, Bitmine... Thanks for the heads up. If you have specific companies with details post them here when i have time I will do my own additional digging but untill then if you find anything else let me know. Thanks again for the heads up. Kr, Malcolm O I would add KNC as "person of interest", http://www.coindesk.com/problems-plague-kncminer-broken-super-jupiters-arrive-doorsteps/ I'd suggest reading the comments... As for success stories :) I guess the one at the top of the list would be ASICminer (at least for IPO investors who definitely achieved ROI, not sure about the ones who bought before the fall of Burnside's exchange - BTCT) Title: Re: List of fraudulent compaines and corporate failures Post by: Hoofprint on June 13, 2014, 11:37:24 PM I nominate Icedrill.
They are doing the Hasfast Scam almost down to the letter, Miners now missing and holding Shares entitlements hostage. Title: Re: List of fraudulent compaines and corporate failures Post by: Hoofprint on June 13, 2014, 11:53:39 PM Will For Cryptomex.
Investors cant buy or sell their shares with out filling out a KYC form, that could be used to scam in future. https://www.cryptomex.io/cryptomex/docs/CryptoMex%20-%20Account%20Opening%20Form%20-%20Individual%20%28140429%29%20Final.pdf (https://www.cryptomex.io/cryptomex/docs/CryptoMex%20-%20Account%20Opening%20Form%20-%20Individual%20%28140429%29%20Final.pdf) notice how they want to know if you have mental illness :-\ Title: Re: List of fraudulent compaines and corporate failures Post by: dunchy on June 14, 2014, 07:18:37 AM IceDrill / Cryptomex.io
1. keeping shares hostage 2. no dividend payed (aside of one testing occasion) after 4 months 3, funds moving from mining address without any explanations 4. unreasonable kyc conditions (change in contract terms!) 5. complete waste of investors money on scammish looking cryptomex exchange with only one listed security Now they are basically copying COG scam. Building momentum in investor's anger to the point of liquidation and suddenly a sock puppet will appear in a form of a "liquidation manager" who will give investor's back a few cents on a dollar and disappear. They might address the public once or twice in the meantime. Title: Re: List of fraudulent compaines and corporate failures Post by: Anotheranonlol on June 14, 2014, 07:25:56 AM You would have a much shorter list compiling list of non fraudulent companies and corporate successes in bitcoin space
Title: Re: List of fraudulent compaines and corporate failures Post by: andreasan on June 16, 2014, 08:52:57 AM ASICMINER and Satoshi Dice are probably the biggest success stories. What they seem to have in common is competence in their team and from early on were very pragmatic in the way they responded investors (with the exception of when MP did the talking for S.Dice). They never promised the world to anyone.
I think Rental Starter is proving to be a champion in the space. It's shaping up to be a prime example in proving that Bitcoin investors shouldn't necessarily have their options limited. I think in the near future quality start-ups from many fields will take advantage of Crypto funding and technologies that are associated with that - such as the decentralized exchanges. Assuming Bitcoin continues to do well. And more serious projects would more likely be interested in P2P stocks rather than un(self)regulated centralized ones (that have like a 50% fail rate?). Can someone come up with the ball park number of how much money was put up in total by the community to fund projects? Title: Re: List of fraudulent compaines and corporate failures Post by: freedomno1 on June 18, 2014, 08:14:59 AM There is a similar list and since I don't want to check each one too many securities to sort the Major Hacks from the rest
Will add the link for as a cross reference if someone wants to calculate the total Bitcoins lost https://bitcointalk.org/index.php?topic=576337.20 Title: Re: List of fraudulent compaines and corporate failures Post by: matt4054 on June 18, 2014, 08:37:53 AM BASIC-MINING (https://bitcointalk.org/index.php?topic=130982.0)
After the btct.co shutdown, creativex promised to work on a solution but ran away with the funds instead, and he started living off them since then. AFAIK he hasn't used them up yet. EDIT: found it already listed later on, my eyes must have skipped it at first Title: Re: List of fraudulent compaines and corporate failures Post by: freedomno1 on June 18, 2014, 09:20:32 AM I'll throw in Binary fund
Amount unknown but there seems to be enough to show it was a scam https://bitcointalk.org/index.php?topic=459412.msg5069842#msg5069842 Title: Re: List of fraudulent compaines and corporate failures Post by: Newar on June 18, 2014, 03:33:59 PM Wow, how could I forget? https://bitcointalk.org/index.php?topic=77469.msg861305#msg861305 Title: Re: List of fraudulent compaines and corporate failures Post by: Bonam on June 18, 2014, 04:56:25 PM Thank you in advanced ill give a reward to everyone who adds a new company to the list. One reward for each company found and details of the incident or links to the details provided. What was the reward you were planning to give? Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 19, 2014, 07:27:38 AM A few more companies first :)
But there will be a prize to each company provided that is proved to be actually fraudulent Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: Taras on June 23, 2014, 11:10:12 PM What about coinex.pw? My UNO withdraw has been queued for months.
Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 25, 2014, 07:58:42 AM Dear Taras,
I hope your well. whats UNO ? Kr, Little P Title: Re: List of fraudulent compaines and corporate failures Post by: jonsi on June 25, 2014, 10:34:39 AM Dear ..., I hope your well. ... Little P Dear Little P, why do you keep scratching my ears? The corect form is: I hope you're well. Thx. Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on June 27, 2014, 10:52:53 AM Dear ..., I hope your well. ... Little P Dear Little P, why do you keep scratching my ears? The corect form is: I hope you're well. Thx. Dear Jonsi, I hope you're well. That's the second time someone has caught me out for that ^^. Kr, Malcolm O Title: Re: List of fraudulent compaines and corporate failures Post by: ask_me_about_my_bits on June 27, 2014, 11:05:37 AM S.NSA (http://mpex.co/?mpsic=S.NSA)
BFL (http://www.butterflylabs.com/) HashFast (http://hashfast.com/) MintSpare (https://www.mintspare.com/) Top three missed shipping dates on various products. Top one hasn't done pre-orders but because its publicly traded missing the expected shipping date, of late December is bad for shareholders. Bottom one is also publicly traded, and the owner thought paying himself all of the profits was a good idea. Title: Re: List of fraudulent compaines and corporate failures Post by: NotLambchop on June 27, 2014, 11:53:14 AM ...Bottom one is also publicly traded, and the owner thought paying himself all of the Minor detail, but worth correcting. Havelock claims to still have 100 BTC of the funds raised, BTW. Title: Re: List of fraudulent compaines and corporate failures Post by: Taras on July 04, 2014, 04:33:03 AM Dear Taras, Unobtanium - a cryptocoin :)I hope you're well. whats UNO ? Kr, Little P Mine's still stuck in coinex though :( Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on October 18, 2014, 09:11:47 PM I hope you're all well.
Thank you so much for helping with the list. I will be presenting at an event in November and December. Kr, M Title: Re: List of fraudulent compaines and corporate failures Post by: thy on October 19, 2014, 08:30:22 AM Just to mention a few, there was the three related scamstocks on cryptostocks a while ago firemine, mineco, digimine (listings 96, 104 & 105), hard to say exactly how much btc that was involved there as there was some stocks dumped at low price but i guess there must have been stocks sold for at least 50 btc & i don't think the issuer &/or cryptostocks ever cleaned up that mess.
I think there was under 1 btc in dividend payed out in those stocks so the one that listed those run off with most of the rest. https://bitcointalk.org/index.php?topic=472265.0 Title: Re: List of fraudulent compaines and corporate failures Post by: freedomno1 on October 27, 2014, 04:06:48 AM I guess we can add Moolah and mintpal to this list
Although the trail is still hot so hope they catch Alex Green or whatever his true name is. https://blockchain.info/address/17ztgkcaZbs4VFrAswMQGvnNDEtn47rsmu https://www.cryptocoinsnews.com/mintpals-3700-stolen-bitcoin-likely-in-hands-of-alleged-scammer-alex-green/ Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on October 30, 2014, 11:19:48 AM Thanks for that keep adding I will be slowly adding this to a website as well. Put as much detail as you can any inks to news articles ect ect.
Title: Re: List of fraudulent compaines and corporate failures Post by: Taras on November 03, 2014, 02:47:53 PM Dank Bank - unintentional investment scam
Coinex.pw - just up and took everyone's deposits (mine too :( ) Bitcoin investments and trust - ran with the money, operator arrested Cryptcominer - very successful ponzi scheme Flexcoin - hacked; all deposits stolen BitVegas - owner missing, wallet empty Will elaborate further in a bit Title: Re: List of fraudulent compaines and corporate failures Post by: Newar on November 03, 2014, 02:53:19 PM [...] ill give a reward to everyone who adds a new company to the list. One reward for each company found and details of the incident or links to the details provided. [...] Did anyone actually get the reward? Title: Re: List of fraudulent compaines and corporate failures Post by: Little P 1 on November 19, 2014, 09:51:19 PM They did have to ask for it :) I sent a few messages out if you want the reward add a *New company to the list with all the evidence and Pm me I am a man/woman of my word.
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