Bitcoin Forum

hu guys
like u see in the chart EGOLD ICO drop from 20 sat to 4 sat in less then 6 hours
YOBIT exchange scam a lot of peoples in their new ICO "EGOLD" peoples
bought this ICO at 10 sat and they sold it at 4 - 6 satoshi because of
yobit scam YOBIT devs steal investors real BTC for a fake coin

Yobit is one of the least liked exchanges here on the forums.
I dont know anyone who recommends using them and have quite a bit of members here complaining about their site and service. Support does not reply to their customers is a sign of a poorly developed site.
Best to avoid using them in the future. :-X

Yobit is a scam exchange in the first place, so their IEOs are not an exception. There are actually no IEO from any legitimate companies, these are just Yobit's creations.

What Yobit is doing in the name of IEOs is just running a ponzi scheme... In my word, they are just raping greedy investors.

In EGOLD IEO they wrote something at the beginning. ICO type: rocket (high risk) though it doesn't make any sense for greedy investors.

You really don't have anything to do now except to wait for a Yoshit Pump (maybe 2yrs later  ::))

And I think you should move this topic to scam accusation (https://bitcointalk.org/index.php?board=83.0) board.

Mostly, Yobit ICO's just pumps and dumps. Even for let's say Yobit didn't participate in the dumping scheme (although obviously, we know what's the catch here), there are lots of big players there taking advantage of it.

That's why if you don't know the risks you are dealing with, better stay away.

Why on earth did you participate there in the first place?

There are still more rooms for you to get out if you want to minimize your losses.

When did you buy this coin Egold? this coin is launched last 2017 and it looks like the price is around 100 sat before.

You should look to other exchanges if the selling price in Yobit is too low this coin is currently 20 sat each.
So sending it to another exchange will save you from selling it for a cheaper price.

Check this link https://www.coingecko.com/en/coins/egold#panel

Yobit is a well-known fraud/cheating they are sometimes giving you a higher price then sooner or later the price of the coin drop. So stop using them switch to other exchanges to trade.
I suggest you check every coin you have in coingecko then check the exchanges tab to see all listed exchanges to trade your coins.

Yobit had an IEO earlier today I guess with the name of EGOLD

The IEO details were as follows. Taken from their site.

Full disclosure:  I don't know anything about IEOs or what this EGOLD thing is, but is it possible that the price drop was due to market forces instead of some kind of nefarious behind-the-scenes manipulation on the part of Yobit (which is what I think is being implied here)?

Whether the answer to the above is yes or no, people really need to be careful about using Yobit for anything.  I recently took my chances and used them to buy some RDD, since it's not sold on Binance or any of the other major exchanges.  Fortunately everything went smoothly, but I don't doubt for a second that had there been a problem with the transaction that I would never get satisfaction in the end.  Their customer service department (if one even exists) is notorious for not being helpful.

TL;DR: Screw Yobit.  Don't use them if you can do a trade on a better exchange, and don't assume that since they've been around for years that they have a shred of honesty.

Op, I think it's better if you will focus on a single thread.
https://bitcointalk.org/index.php?topic=5148836.0
You can delete the other one and stick to this thread. However, we all know that Yobit now has a bad reputation so we better get rid of it. There are still lots of trusted exchanges to use so let's not risk our funds in Yobit.

Oh, it looks like Yobit uses Egold to make a fake IEO.

What I noticed from Egold ANN thread here on the forum no update about this coin so it means he is a victim of fake IEO.

You can check the announcement thread from here 🎮🌟🚀 [ANN][EGOLD] eGold | LENDING & BETTING | BUY BACK PROGRAM | CMC 🚀🌟🎮 (https://bitcointalk.org/index.php?topic=2253578.0)

They are scamming people for a very long time and i cannot understand why people are still trading in that exchange till now, if you look at their past history they used to have coins that are not listed anywhere else who only use to pump and dump and scam the money of new users and still they are functioning is a miracle, they wanted to take advantage of IEO trend and they were planning for another elaborate scam and so is the reason they started the signature campaign here but the admin banned them for spamming, they must not allow these scams sites to advertise here.

My first question is 'why did you invest in that trashy exchange's IEO'? Yobit has no reputation to begin with. They have so many shitcoins and I think the most thing that their exchange do is to list a set of altcoin names to add on their exchange that has no purpose at all. I'm very sorry to what happened to you OP but I guess this is what you need to wake up in reality.

Yobit is really a fraud. They seem to have no support and only create a telegram channel and have no effect. The admin often ignored questions. This is an unreliable exchange and I advise people not to trade there. If there is a risk, 99% of traders will lose their money.

Yobit for sure has one of the lowest reputation among many cryptocurrency exchanges still operating as of today. With so many complaints against the platform, I am wondering why people are still loyal with that. I have an account in there but I am not using it anymore because I am aware of its bad customer service and I don't want to be one of their many victims. Right now, because IEO is on the rage, Yobit is also taking advantage by offering the same to their many members. We have to be careful not to be enticed with this greedy exchange.

Yobit has been bombarded by negative comments already here in the forum so why do they launch an IEO and the worse, there are some stupid investors who really invested on this stupid IEO.

Yobit is an exchange of shitcoins. You can't see any good coin to trade there. Most of them have low volumes so its useless if you sell your coins there. We must avoid any activities yobit do. Lets do some research first before investing our money.

It already have a history of scam so why would you even try to use it?
They have so many scam accusation and people have known that they are scam long time ago.

Even it is IEO, we should still must be careful with it. Even IEO in big market not guarantee the token/coin will success in market. But it is all on investor's hand in where we want to invest and take risk for it.

Yobit's have plenty of bad records recently therefore it is very risky if you are going to use and trust this kind of exchange.

As an investor, you already know the risk that you are going to face if you are going to invest for something. And for the investors EGOLD ICO, it's better that you will safely exit now and avoid Yobit's exchange or it's projects anymore.

The weird part is nobody really defended yobit at this one. I didn't know yobit that very well and never used them so I had no knowledge of how they run their business, they could have been great or bad and I wouldn't know.

As soon as I got into this topic I saw how everyone hated Yobit already and realized it is a mistake to even deposit any money into that exchange which goes to show if you are going to invest into an IEO you can't just research the project but also should look at the exchange as well, that is why the IEO's over at binance are so successful since they are literally on binance, that is why egold was a failure because it was on yobit.

Do your own research when it comes to these new coins and depositing your money into anything at all.

Yobit scamming is not a new thing.Theyve been doing this for a very long time,back then they say yobit was good but not anymore,and im a victim of that.So you guys better stay away from yobit and just go on trade on the most popular exchanges out there,those exchanges who really has high volume in trades

Yobit is certainly an exchange with a dubious reputation due to those reviews that can be found on the Internet. Some speak badly of her, others say that all this is nonsense and continue to trade there in rather large amounts. Most of all I am confused by reviews of payment delays.

The first thing you need to know, yobit already have a bad reputation from their service. About ico price, not only on yobit at other platforms the price went enter the market will determine from supply & demand. If you can't take you to lose went investing at ico/cryptocurrency, then don't invest on the project. You need to learn first about term & risk about investing on a project.

Hm. I think there is a real problem in Yobit. I also used this exchange when I am buying some Lina tokens but I stopped to trade because I don't like the ambiance of the exchange. However, I did not fail to withdraw nor to gain by Yobit. So for me, it is not about yobit. The traders mark the price and exchange did not manipulate the price. Don't blame yobit, blame the egold ICO.

In the beginning I used the Yobit market, there were actually no obstacles, even withdrawals and deposits also never had a problem (never contacting the support center) but somehow it was different from other people's experiences. For ICO to stay away from Yobit, the market activity is very suspicious (because it has a strong indication of P&D)

And the other thing is, just never choose ICO carelessly, they might offer you many amounts of token or coin as bonuses but it will also have the negative side.

Probably the downfall of these coins you said in the OP is because of them selling their own holdings of the coin itself. Not because that yobit is a scam nor yobit is the least like exchange in this forum. And for the record, as an investor it is our own duty for us not to be scammed by ICO/IEOs by DYOR.

So many mates has complained of Yobit on this forum a lot, but funny enough, I have never experienced anything of such with them before leaving, I left Yobit just because I found a better exchange, so if I say I do understand what people are saying, I must confess I don’t.

I want to be careful that it is not just the trend people like to follow and those who are not scammed will even claim they are scammed, if Yobit is that a bad exchange, why are they still fully functioning with lost of things I have read, while I still see so many people at the same time saying positive things about them.  I understand they have lots of shitty project but to say Yobit directly scammed, I really don’t know.

It has long been proven that yobit was created by fraudsters. The developers of this exchange each month release new projects to trick users.

yobit always in the news for scamming. I really don't not understand why it has be like this and we have to keep living with this exchange. For those that really invest in this IEO it is really a big loses. I received messages in my mail box for this but I couldn't invest and now I thank God I did not have investment funds then.

I don't know if you can call that scamming, we know a certain project in IEO does not guarantee the investors to be profitable.

Just a bad timing that the price dump after it was traded, but you should also take a research of Yobit exchange reputation so you will know how risky to trade in that exchange. I believe they have a lot of shitcoins and they are risky, so you probably are just gambling in short term as shit coins has no potential in the future.

I was surprised by the people who still believed in YOBIT, even though many of the typical in YOBIT investments made us more bankrupt, the obstacles were difficult to attract funds, logins or even bought coins whose origins were not clear. We must be smarter in acting, especially regarding our own money.

IEOs in Yobit is not an IEO, it's just a ponzi trap imo.
Yes, no platform gives any guarantee and that makes it a pure investment for investors, but Yobit gives guaranteed profit for some time for early investors who manage to exit while others become bag hodlers.

Can you show a coin/token after IEO ended for a month maybe which are still trading? There is none, bag hodlers are just waiting for a Yobit pump.

It's just a rinse & repeat formula by Yobit. All the IEOs are offered by Yobit themselves, they don't offer any IEO, ICO launch for outsiders or for genuine projects.

On a first place Yobit is not a trusted exchange site anymore I still curious why a lot of people continue using this exchange site theres more platform that trusted compare this shity Yobit. Dont trust this IEO on Yobit so sad for those investor being scam by this Yobit, I hope there experience on Yobit become instrument to stay away on this kind of activity.

I can not understand why so many people use yobit exchange yet and invest in their platform where continuously they scamming people in different ways. On the earlier invest box feature and now recently IEOs on the platform that is totally shity things to me and these are the way by which they are now stealing people money. We should aware to invest in this platform.

You will be better off that exchange or you will just regret it.

It is one of the exchange that had so many issues and some of them are posted here complaining about a lot of problems in their website.
Most of them is like what you experienced.
The manipulation of tokens and also the fake accounts they are using to troll in their chat board or should I say troll box.
I am one of the victim that bought a coin in their exchange because of the push in the troll box. All of a sudden it became dust, worse in just a minute it went to zero and my coin is stuck there forever.

Next time, you need to avoid yobit to invest a new coin/token, and it's better to choose in the other exchanges like binance or bittrex or poloniex. I don't know how yobit can do that because I never tried to invest in their site. I remember what happens with LIZA coin, and that makes many people desperate to see the price, but many people can make a profit too.

So if you are one of many people who gets scam by that coin, you cannot do anything except waiting for the coin to increase again which we don't know if that will happens or not. Usually, the price of that coin will be decreased until 1 satoshi and stay at that price for a long time, and it does not increase higher again unless the developer can pump his coin to the higher price.

With all those negative reviews about this exchange, only those people who loves taking the risk will still use and invest with this exchange,
it's very risky as chances to earned is too little than chances to lose your money, Yobit knows how to play with weak investors, the fake bot will
increase the volume and shows good pumped, when a victims invest their money dumped will follow leaving them very frustrated and force to
sell with high loses.

Welcome to Yobit HYIP game, ICOs and IEOs: they are all the exact same thing, different branding in that chronological order.

Sorry if this feels like I don't have sympathy but really, it's hard to feel sorry for people who get scammed like this if they didn't take 15 minutes (or even 5, let's say you're on dialup) to just Google and look up Yobit ICOs.

It's a gamble at best, at worst, a very unfair HYIP. Learn your lesson and move on.

Obliviously YoBit is well known for bad reputation, a lot of people have been complain about how it has high withdraw fees and some having their accounts closed and others having their withdraws stuck, and with all of this bad talk about it, people still fall for it and invest in its coin and expect it to go well,  all i can say is that its their fault for even beveling  in it and they deserve it because  they probably haven't made their research right and just probably following someone who is advertising them.

People never ever learn yet this had been told for a thousand time on avoiding Yobit exchange yet this had been

known as shady as f*ck from past to present but people do just simply ignore these things and they do only
realize on the end when they already lost their precious money.

Yes, peoples will never ever learn until they get fucked up...
The most interesting thing is some people even don't learn when they get fucked up; they just return again due to their greed.

It seems another IEO is coming https://yobit.net/en/ico/timer/ and peoples will also participate without any doubt even they know how this ponzi thing works.

If I'm not wrong then within the last 2 or 3 months Yobit has launched 5+ IEOs, I haven't found even an ANN thread, wp is a far away thing.

Since from the start there are so many scam accusations from the yobit exchange, so I don't understand for thise people out there why they continue to use yobit exchange. Simply if people didn't want to becoem a victim of scam just stay away from yobit.

This is not new they've done this for so many years and they are still doing it, people using Yobit platform should be aware of this, because it's not a secret anymore, check out the scam sections and you'll see there are at least ten thread about Yobit scam activities, so if you got scam it's your fault anyway.

How long have you been in the crypto space OP? Because if its a few months, your mistake is kind of understandable. But if you are are almost a year then the only person you can blame is yourself and not that IEO or Yobit. I rarely even hear Yobit when people recommend good exchange but yet here you are a living proof that they still attract stupid investors.

If this is true, then you should publish information about it with all the details and proofs, for example, here https://revain.org/exchanges/yobit. Let other people find out about scam, if any. I strongly advise you to be the most honest in your review, as other people will read it.

Yobit has never been an honest exchange, and I don’t know if they are just bewitching people that is why they are still falling for them, many people that I have heard on this forum complain bitterly about Yobit, and I have also had friends that has bitterly complained about their account on Yobit. I don’t see the reason why people should keep using Yobit with all the reviews that we have had about Yobit, so his review would really not make much difference here.

The wisest thing that everyone needs to do is just to make use of exchanges that are reputable and exchanges that are well speak of which they are very easy to know, if we look at coinmarket cap or check news on the internet, we will find exchanges that are very reliable listed on the internet for us to use and get the best of our transactions from them.

Do I take it that you were trying to describe an IEO, rather than an ICO? Because when a coin sale takes place in an exchange it is an IEO just like you described with Yobit. However, if the sale of EGOLD actually was concluded outside Yobit but only got listed on Yobit, then I don't think we should blame Yobit for the drop. These things - market fluctuations do happen. Projects crash and market dips, whether on Yobit or on any other exchanges.

I cannot understand why people still use this exchange, i had an account there and still have but never used it because of the negative reviews on this forum,a lot of users got scamed by them.

This is not the first time you hear about anything shady about the exchange, they have done the same in the past with fake shit coin volumes and spikes that is only listed in their exchange and this wont be their last and people still trade in those platforms even though there are many good exchanges in the market. Majority of the people in the market knows about their shady business practices and still they get customers  ::).

There are lots of actions outside of this exchange and it is best not to get involved because there you will probably lose money very easily. I think if you only trade then there is no problem because deposit and withdraw money at Yobit is very fast. In fact, I have traded here and there are many cheap coins that you can invest or trade in spreads that can also help your profits.

As long as people exist to buy these shit coins from the shittiest exchanges then they cannot keep their capital amount safe.Projects with attractive names doesn't mean to be profitable so just open your eyes and see what you are actually investing into.

This is one of the shit exchabge site in the market I dont know why peoplw continue using this platform even the risk is so high and take note this is not the first time I encounter this kind of problem in yobit exchange site people always complain but continue patronizing this shitty exchange site.

Personally, I have not come across this exchange. It amazes me how many-sided reviews her users leave about her. Someone says that the exchange is excellent and it is quite possible to trade on it, someone on the contrary blames the scam.I believe that if everything was so bad, the exchange would not be in demand now.