Bitcoin Forum
April 08, 2020, 09:59:53 PM *
News: Latest Bitcoin Core release: 0.19.1 [Torrent]
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Economy / Scam Accusations / SMARTERTHANCRYPTO - SCAM on: November 23, 2018, 08:03:58 PM
ANN thread:

Bounty thread:

From the bounty conditions:

"We are offering our participants a total allocation of 1% from our overall token supply.

Signature campaign: 40%
Newsletter Subscribers Campaign: 5%
Translation Campaign: 5%
Facebook Campaign: 15%
Twitter Campaign: 15%
Blog & Video, PR & Marketing Campaign: 20%"

From the ANN:

"Token Type: ERC20, Ethereum Blockchain
Token Symbol: STC
Maximum Supply (Hard Cap): 25,000,000
Available for Purchase: 21,750,000
Price per token:
Pre-sale: $0.90 (first 10,000,000 tokens)
First 48 hours of ICO: $0.95
48 hours to week 2 of ICO: $1.00
Week 2- till end of ICO: $1.05
No new coins will be minted, created or mined after the ICO

Their first deception lies in the fact that they promised 1 percent of the overall token supply, but in the end of the campaign in the telegram chat they replaced these words with "the total number of tokens sold."

Next, I will give calculations on the example of the signature campaign, although with other campaigns the situation is just as bad.
For simplicity, I took a middle course 1 STC = 1 USD.

Tokens sold: 5`800`000 USD

Bounty pool (1%): 58`000 USD

Signature campaign pool (40%): 58`000 USD x 0.4=23`200 USD

Total signature campaign`s stakes: 14`870 (spreadsheet:

I earned 1`440 stakes, so
I should have received 23`200 / 14`870 x 1`440 = 2`246,671149966375 STC tokens according to the conditions they changed arbitrarily after the end of the campaign, or 8`425,016812373907 STC tokens according to the initial conditions.

In fact, I received: 216.92 STC (Tx: 0x80b81e83cc0524c3cc94356eb2db2640fa767bdceb72dd988318c4afa1777c1a)

Thus, the SMARTERTHANCRYPTO team deceived us by paying us 10,4 times less than it should be, based on the tokens sold and 38,8 times less than it is due according to their initial conditions!

Therefore, they are - definitely scammers!
Angry Angry Angry Angry

Pages: [1]
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!