Bitcoin Forum

I would just like to bring attention of the forum moderators to a scam project called MEGATRON (https://bitcointalk.org/index.php?topic=3133601.0)

If you examine closely, you'll notice the following:

1) Team pictures are photoshopped

Who they claim their team is:
https://i.imgur.com/y5yB9yv.png


And here's some proof of photoshop:

https://i.imgur.com/AA9RvvO.png

https://i.imgur.com/kYprqhT.png

2) Team does not exist

Check below number 3

3) Company is registered in Switzerland, yet none of the members aren't on the official business registry (they are falsifying the claims)

https://ag.chregister.ch/cr-portal/auszug/auszug.xhtml;jsessionid=0b5f4df1fa0521aff6266d3b2175?uid=CHE-105.495.678

https://bl.chregister.ch/cr-portal/auszug/auszug.xhtml;jsessionid=0b5f0665c05a45a0f4c5e5924e6a?uid=CHE-108.062.525#



4) Thread bumping
   - you'll notice 99% of the comments are oneliners by newbie accounts saying praise about the project

https://i.imgur.com/rYPWQGw.png

Scam ICO name: xeonframe ( no SSL certificate on site)

Website : http://xeonframe.net/

Archive : http://archive.is/6nOAF

Team archive :

1)      http://archive.is/34Imm (http://archive.is/34Imm)

2)      http://archive.is/peFEA (http://archive.is/peFEA)

Bounty thread : https://bitcointalk.org/index.php?topic=3963215.0   ( Manager :  Wapinter (https://bitcointalk.org/index.php?action=profile;u=2094446) )

ANN thread : https://bitcointalk.org/index.php?topic=3873411

Main reason to say scam for fake team members picture.  Their team is not existing and they chose from google. Most of team member is fake. They just use linkedin logo but there is no any profile link. I will describe below those I have strong evidence.

Look at the picture below I have marked & and check name too.

http://i63.tinypic.com/21j0ytv.png

Point one : NORMAN OSAMU( FAKE) =Jason Chen ( Real)

http://i68.tinypic.com/28redn5.png

Proof link : http://imperialholdingscompanies.com/index.php/our-team/

Point two : JETT JAXSON( FAKE) =Melissa Li ( real )
 

http://i66.tinypic.com/10zzbm0.png

Proof link : https://www.linkedin.com/in/melissa-li-009805159

I believe that’s enough proof to say scam.  Be aware from such as ICO those have question mark.

Scam ICO name : COINECT
Website : https://coinect.com
Archive : http://archive.is/Gaxza
ANN thread : https://bitcointalk.org/index.php?topic=4419682.0  - by Wapinter (https://bitcointalk.org/index.php?action=profile;u=527272)
Archive: http://archive.is/gYp1N

This is third ICO promoting by wapinter with fake team. See the picture are below. I open this thread because even Wapinter aware about their fake team he didn't lock their bounty. Who will responsible if they plane for exit scam?
We was suggest to lock their ANN but Wapinter not yet lock. Check this thread: http://archive.is/imZvb

I was promised to suchmoon that I will research today about them. I was tried my best to find it.

Name: Jason Zhou=Haruyama Mitsuru

http://i64.tinypic.com/24q3axu.png

Original name:

http://i66.tinypic.com/zk270p.png

Facebook link : https://www.facebook.com/mitsuru.haruyama

Archived ( may be they will try to hack ) : http://archive.is/qLOwV

This is enough to called SCAM ?  He have own blog you will find on his FB profile. Just translate there also you will find name.

Can you check the pictures on Coinect? Another shady ICO posted by Wapinter.

https://bitcointalk.org/index.php?topic=4419682.0

Names sound really fake.

Can you check the pictures on Coinect? Another shady ICO posted by Wapinter.

https://bitcointalk.org/index.php?topic=4419682.0

Names sound really fake.

Why blaming me for the scam ICOs?Am I not co operating with anyone who reports a scam ICO?I immediately lock their threads.For the past few days I am being constantly targetted on this forum.I have publicly expressed my willingness to help fight these scam ICOs.I suggested we should have a group of members who do research before ICOs are allowed to post their ANN and bounty.I accept I made a wrong choice in megatron and xeonframe case but I was not a part of them.My fault I didnt do proper research before accepting these bounties but I locked their threads immediately as soon as I learnt about them.Lets fight these scam ICOs together.I assure everyone that I will be more vigilant in accepting the bounty campaigns from now on.

So what are you waiting with this one https://bitcointalk.org/index.php?topic=4424486.msg39469371#msg39469371  ?
10 levels depth referral pyramid, 40% promised monthly return(without fully tested product), photoshopped team member, advisor which is not advising project, coinect company not registered anywhere in UK.
It didn't cross your mind that this project is maybe....scam?

Coinect team has asked me to give them 24 hours to post their reply

Shouldn't we give them a chance to clear our doubts?

^^ these guys are unbelievable.
What doubts omg

10 levels depth referral pyramid

40% promised monthly return(without fully tested product)

advisor which is not advising project

coinect company not registered anywhere in UK

Because of its a brand name, not company's. Before writing such material may be easy to ask first and get the answer?

I was scrolling around the bounties section looking for a signature campaign when I found  this project  (https://bitcointalk.org/index.php?topic=4424486.0). Here's an introduction to the project and what it looks to do in the industry -

Introduction
Coinect is a new trading bot/tool/system that is able to implement on popular exchanges (binance, kucoin, bittrex, bitfinex) and uses AI to minimize a loss while making favorable trades that will profit. They claim that in 1 month, they are able to make a 48% profit, which sounds incredibly similar to  popular ponzi schemes  (https://www.youtube.com/watch?v=suwsR6fXU_M).

AI System for guaranteed profit
Coinect claims that they are able to implement a trading system that guarantees in average about 20-50% profit. From their  whitepaper (https://coinect.com/WP_en.pdf), they claim that they will have a system that will cover ~20 exchanges and will work in a way which is as follows -


They claim that they are able to calculate this, but how would this work from 20 exchanges? On popular exchanges like binance, the price of something is changing constantly and since you are making small trades and arbitraging, this might go wrong a lot of times. (This part is a bit messy, I am not very well versed in trading/arbitraging, if anyone has any better comments/analysis, feel free to comment).

False Advertising/Sloppiness
The entire website is very sloppily made and the details are often wrong, for example -

At first glance, it shows the profit is around 40-45% a month

https://i.imgur.com/YlIVQf0.png

Then in the section next to that, the text reads 20-50% profit a month.

https://i.imgur.com/UjxecbH.png

Then if you try forecast your profit, it shows 48%?

https://i.imgur.com/gqx5osJ.png

You are also unable to change the slider from 1 month, it seems like that parts broken.

They also make it seem like they are going to be listed on popular exchanges, or at least know them and are connected with them shown in this picture -

https://i.imgur.com/G9aJ0Vy.png

I am unsure about other exchanges, but binance doesn't announce partnerships before the ico ends, so definitely dodgy at least. They are trying to mislead dumb investors here.

No experience
When you are looking to make a financial asset platform, especially if it is ai involved, you better have a lot of industry relationships and experience. This is the total opposite of the Coinect team, and the linkdelin profiles they provide are incredibly barren and they either have no experience or have some experience with some unknown company. They should have proven performance, social media presence, industry connections, instead, we are greeted with some possibly fake accounts that look like they were made 1 month ago.

The CEO/Team lead (https://www.linkedin.com/in/dominic-hall-23483a162/) -  Dominic Hall
The CEO has made a total of 7 connections on linkedlin and has 1 past job at GFT, which I can't find anywhere. Definetly not fit to be running a million dollar finanical asset platform. I think these 7 connections are the fellow team members in coinect, as each of them have 7 connections each.  :-[

https://i.imgur.com/Duz2Plt.png

Conclusion
Does not look like a very trustable ICO. I'd love to hear your thoughts though, thanks!

Why blaming me for the scam ICOs?

Am I not co operating with anyone who reports a scam ICO?I immediately lock their threads.

For the past few days I am being constantly targetted on this forum.

I have publicly expressed my willingness to help fight these scam ICOs.I suggested we should have a group of members who do research before ICOs are allowed to post their ANN and bounty.

I accept I made a wrong choice in megatron and xeonframe case but I was not a part of them.

My fault I didnt do proper research before accepting these bounties but I locked their threads immediately as soon as I learnt about them.

Lets fight these scam ICOs together.I assure everyone that I will be more vigilant in accepting the bounty campaigns from now on.

I'll try and ignore the other projects that are either confirmed to be scams, or are being busted right now and focus on coinect.

When I was first tackling the issue, I was going to straight out call it a scam, but after further research and fully understanding the words that were on the website, I wasn't able to call it a scam at first, it was just a very dodgy ico with fake/dodgy team profiles. I could ask them for some other details (more in-depth knowledge about how the code works, but that would be confidential, and they definitely wouldn't hand it over).

They are sort of in a situation where you can't fully prove them illegitimate, and they have an excuse to not fully prove us wrong, so at the end of that, I'd only like one doubt fixed.

What's up with the team coinect? The whole team has 7 connections each on linkdelin and the connections are all your team members. Entering such a huge industry and expecting to raise millions with a rookie team like this would either mean a complete failure or an outright scam. Where are the industry connections? Where is the industry experience? Where are your teams' past experience? Where is your ceo's past work?

EDIT -  more info about coinect

Can you check the pictures on Coinect? Another shady ICO posted by Wapinter.

https://bitcointalk.org/index.php?topic=4419682.0

Names sound really fake.

<snip>

I don't think campaign managers have a duty to research the project in as much depth as you suggest.  They're just taking on a job, and when any of us apply for a job we usually assume good faith on the part of the employer.  It also assumes the manager is capable of and has the time to delve into detective work.  I think what you're saying shifts the blame way too much onto the campaign manager's shoulders.  What if there's a critical detail that the manager misses?

If a project turns out to be a scam, and they're in the middle of running a campaign, I think it's enough for a manager to do as Yahoo62278 just did and end the campaign.  Basically it comes down to the question of whether we're assuming a project is a scam until proven otherwise or legitimate until proven to be a scam.  There have been enough scams such that we probably ought to be assuming all ICOs are, but I don't think it's a campaign manager's duty to expose them before taking on the job of manager.

I couldn't have put it better myself :claps:

Have you ever thought that campaign managers put food on many people tables?

I don't think campaign managers have a duty to research the project in as much depth as you suggest.  They're just taking on a job, and when any of us apply for a job we usually assume good faith on the part of the employer.  It also assumes the manager is capable of and has the time to delve into detective work.  I think what you're saying shifts the blame way too much onto the campaign manager's shoulders.  What if there's a critical detail that the manager misses?

I am not sure why a Bounty manager has to be taken responsible for a scammy ICO, I mean before you invest in an ICO you are advised by mostly everyone to do your due diligence, to investigate whether the project is a scam or not, in other words, I hereby advise you all who assimilate SCAM ICOs with good intended and hardworking managers to do your research before participating in a Bounty.

P.S. It can happen to anyone, nobody is perfect. Picking the wrong campaign is just a matter of time, but that doesn't mean you are doing it intentionally.

   do your research before participating in a Bounty.
 

Have you ever thought that you idiots who are promoting obvious scams are taking food from many people tables?

It is worth pointing out that Wapinter is currently evading a forum ban they have gotten with their alt account Wapinter Bounty Portal.

https://bitcointalk.org/index.php?topic=4486093.0

---

Managers should do a minimum of research before they accept a position.
Participants should do their research before they start advertising a project.
Investors should do extended research before sending their money anywhere.

Just because the managers do research, doesn't mean participants should not do their own research anymore (I have discussed that recently with mdayonliner (https://bitcointalk.org/index.php?topic=4487800.msg40492670#msg40492670)).
Likewise, a manager cannot take themselves out of responsibility by claiming all research has to be done by participants, they should do their own due diligence as well,
as they put their reputation on the line with the positions they take on.

If all three groups (mangers, participants, investors) of people do sufficient and independent research, scams can be found and stopped way earlier than right now,
because the more people check a project, the more likely bad apples like these get found both quickly and reliably.

Currently, third parties that have nothing to do with either group have to point out problems to the managers which then only react, at a point it might already be too late for participants/investors.

Some of our team members have individual accounts here on froum which we do not share with anyone. But we want to create an official account for bounty management whose login details will be shared with some of our core team members.Is this allowed according to forum rules? Some of our members are based in different geographical locations. is it okay if they login and use one account from different ips and location? Need guidance from forum staff

All of our team members have individual accounts here on forum which we do not share with anyone but we want to create an official account whose login details will be shared with some of our core team members. Is this allowed according to forum rules? Some of our members are based in different geographical locations, is it okay if they login and use one account from different ips and location?
I need guidance from forum staff if it is not too much asked.

https://i.imgur.com/rVQQyUV.jpg

---

One question though, are you in any way part of the "Wapinter Bounty Portal" team (you know, the guys with the banned account)?

Since you ask about a shared bounty management account here: https://bitcointalk.org/index.php?topic=3606878.0
And the very same day, this thread is posted by a member of the WBP team: https://bitcointalk.org/index.php?topic=3603094.0

The wording is so similar, it's almost...the same.

Is that why you defend Wapinter that much, because you are directly involved here, because you are a member of their team?
You do not have to answer if it's making you feel uncomfortable.

Nobody is promoting scams, as you can very well see, he closed the campaign.

Just because the managers do research, doesn't mean participants should not do their own research anymore (I have discussed that recently with mdayonliner (https://bitcointalk.org/index.php?topic=4487800.msg40492670#msg40492670)).
Likewise, a manager cannot take themselves out of responsibility by claiming all research has to be done by participants, they should do their own due diligence as well,
as they put their reputation on the line with the positions they take on.

If all three groups (mangers, participants, investors) of people do sufficient and independent research, scams can be found and stopped way earlier than right now,
because the more people check a project, the more likely bad apples like these get found both quickly and reliably.

Indeed, nobody is promoting any scam because the bounty threads for all scams mentioned in OP are closed.
Like the thread for xeonframe, which is lock...
https://bitcointalk.org/index.php?topic=3963215.msg40587785;topicseen#msg40587785
wait, it's not locked? That would mean, people are currently promoting a...I don't wanna say it.

Top job designing those signatures, btw.

The wording .... LMFAO PLEASE but I insist, IF you are suggesting that my account is shared or anyone EVER used my account to post, I hereby invite forum admins to check my IPs and if it was used by anyone else I will gladly accept to be banned. IF not, you should add yourself negative trust and ask all your noobcakes army that post for you to give you negative trust for talking crap and putting dirt on someone's reputation.

[...]

So to me, the filtering criteria is... Go with a manager who has good reputation, who already proved him/her in the community etc. Of-course don't forget to do your own part (a little research) once you get accepted.

You wouldn't get banned for having an alt account. You could get banned for plagiarism.

Moonie, stop spoiling my surprises.

https://bitcointalk.org/index.php?topic=1755478.msg17530692#msg17530692
https://bitcointalk.org/index.php?topic=1749935.0
https://bitcointalk.org/index.php?topic=1778405

You and your friends have dirt on your hands too, I could dig deeper but no need. I have nothing personal against you, but before accusing someone of something make sure you are clean yourself. Why didn't you make your research as signature campaign OP before starting a sig campaign for a scammy project?

You and your friends have dirt on your hands too, I could dig deeper but no need.

No one, apart from one of the scammers, lost money from that scam.

You and your friends have dirt on your hands too, I could dig deeper but no need.

I have nothing personal against you, but before accusing someone of something make sure you are clean yourself. Why didn't you make your research as signature campaign OP before starting a sig campaign for a scammy project?

I don't think campaign managers have a duty to research the project in as much depth as you suggest.  They're just taking on a job, and when any of us apply for a job we usually assume good faith on the part of the employer.  It also assumes the manager is capable of and has the time to delve into detective work.  I think what you're saying shifts the blame way too much onto the campaign manager's shoulders.  What if there's a critical detail that the manager misses?

If a project turns out to be a scam, and they're in the middle of running a campaign, I think it's enough for a manager to do as Yahoo62278 just did and end the campaign.  Basically it comes down to the question of whether we're assuming a project is a scam until proven otherwise or legitimate until proven to be a scam.  There have been enough scams such that we probably ought to be assuming all ICOs are, but I don't think it's a campaign manager's duty to expose them before taking on the job of manager.

I am probably the most impartial person on this forum, as my life isn't only about this forum or a single person. And this is a statement which I strongly support.

I don't think campaign managers have a duty to research the project in as much depth as you suggest.  They're just taking on a job, and when any of us apply for a job we usually assume good faith on the part of the employer.  It also assumes the manager is capable of and has the time to delve into detective work.  I think what you're saying shifts the blame way too much onto the campaign manager's shoulders.  What if there's a critical detail that the manager misses?

If a project turns out to be a scam, and they're in the middle of running a campaign, I think it's enough for a manager to do as Yahoo62278 just did and end the campaign.  Basically it comes down to the question of whether we're assuming a project is a scam until proven otherwise or legitimate until proven to be a scam.  There have been enough scams such that we probably ought to be assuming all ICOs are, but I don't think it's a campaign manager's duty to expose them before taking on the job of manager.

Why blaming me for the scam ICOs?Am I not co operating with anyone who reports a scam ICO?I immediately lock their threads.For the past few days I am being constantly targetted on this forum.I have publicly expressed my willingness to help fight these scam ICOs.I suggested we should have a group of members who do research before ICOs are allowed to post their ANN and bounty.I accept I made a wrong choice in megatron and xeonframe case but I was not a part of them.My fault I didnt do proper research before accepting these bounties but I locked their threads immediately as soon as I learnt about them.Lets fight these scam ICOs together.I assure everyone that I will be more vigilant in accepting the bounty campaigns from now on.

Agreed, what you all said, but how bounty manager can accept ICO which offering 40% monthly return. It's clear sign of scammy nature of ICO, there is no way any project can give 40% return monthly on consistently. Did he read at all or just negotiated his fee without checking what is the project and whom behind it?

I don't think, he did read it at all or he did read and don't care about anything, just wanted to earn his fee.

As a bounty manager sometime we really can't filter scammy ICO because it is fool proof or really good in everything. But Coinect ICO had fix high monthly return that is clear sign of Scam. How any bounty manager can miss that?

You are working with Wapiner, how you can be impartial? You are directly linked with Wapinter and you lectured here like you don't relate to Wapinter.

I think Wapinter It's not  fault hi have a lot project  hard to keep track of all this.

https://ore5.jp/archives/5859

I need translator for this one. Who is this guy:

https://i.imgur.com/IJFTXQK.png

Which one is real?

https://i.imgur.com/W2CoXSb.png

Not sure man, these glasses don't look the same on pictures.  :-\

Wait, don't tell me. He got old but he wears the same old white t-shirt.

---

Oh wait....don't tell me.
春山 充  Haruyama Mitsuru ? Nah....probably google translator stopped responding. This has to be Jason Zhou, Python developer.

I think Wapinter It's not  fault hi have a lot project  hard to keep track of all this.

Anyway, I do have a question, I noticed that there some ICOs who didn't meet the softcap and of course no tokens will be delivered to the participants. Will this be considered as scam?

Wapinter was also the bounty manager for the scam project World Coin, about which he notified bounty participants: http://archive.is/b2SM5.

And I was surprised by getting instant ban... Instead clearing things up.. They banned me which made me think Wapinter and  a group of cheaters under him only promotes for money and 90% Bounty Managed by them ultimately turn into scam.. Funny hahh 😭🙄

Anyway, I do have a question, I noticed that there some ICOs who didn't meet the softcap and of course no tokens will be delivered to the participants. Will this be considered as scam?

We found this possible SCAM ICO that appears to have a fake member. (need more investigation)
https://bitcointalk.org/index.php?topic=5028817.0

Warpinter is the BM:
https://bitcointalk.org/index.php?topic=4973830

We found this possible SCAM ICO that appears to have a fake member. (need more investigation)
https://bitcointalk.org/index.php?topic=5028817.0

Wapinter is the BM: (edited name)
https://bitcointalk.org/index.php?topic=4973830

One interesting fact is After reading this post...I just gave a comment in their Telegram channel regarding the scam issue and expressed how people are thinking about this...

And I was surprised by getting instant ban... Instead clearing things up.. They banned me which made me think Wapinter and  a group of cheaters under him only promotes for money and 90% Bounty Managed by them ultimately turn into scam.. Funny hahh 😭🙄

Been to his bounty group and left. Severely unorganized group, no respect to bountyparticants, playing around with stakes. Their only motto is money. They get it, they promote any ICO even it is full of criminals.

He don't care about this thread, and he will continue doing whatever gets him money.

He did not pay for 10 campaigns for which I worked hard and explained many hours (translations) each time giving absurd reasons.

Now I just noticed it and felt bad. I just don't suffer from this kind of rudeness.