How Many People Lost Money on Ethconnect?

[CoinClarity]

If you pull up the total amounts lost going by their ICO deposit addresses, the numbers are pretty piddly. Yet I was informed that "millions" of dollars was lost in Ethconnect (imagine Bitconnect without an actual exchange or token).

Their bitcointalk thread is massive, so I'm just wondering what the other addresses that people sent BTC or ETH to are:

https://bitcointalk.org/index.php?topic=2301946

Does anybody here have some good experience on this topic and wouldn't mind sharing some detailed info with me? This scam didn't really make the media radar, but it deserves to. Thanks for your help.

[gary_57]

I heard eth connect is good and worthy to use. Besides, it's quite safe. It's really pathetic if someone lose their money through it.

[thresher]

Wow those devs really went brutal there. They really sold 2 million coins for 5$ after ICO? Funny. Sadly funny. But c'mon people! There was an alert on the first page, you shouldn't have fallen for that... Credible or not, if someone is coming ith proofs, try to believe them a little, it may save your asses next time.

[apityeh71]

I was never make invest in any lending coin because i know that just fraud and they only use ponzi scheme to pay profit and reward from lending program.  All kind of investment that use ponzi scheme will finally turn to end,  and alot of member will lose. I prefer to make investment in to coin that development new technology like smart contract and IoT.

[allthebitandbobs]

Wow those devs really went brutal there. They really sold 2 million coins for 5$ after ICO? Funny. Sadly funny. But c'mon people! There was an alert on the first page, you shouldn't have fallen for that... Credible or not, if someone is coming ith proofs, try to believe them a little, it may save your asses next time.

LOL that hilarious people will have to learn eventually 

[CoinClarity]

I heard eth connect is good and worthy to use. Besides, it's quite safe. It's really pathetic if someone lose their money through it.

You must be joking, right? Unlike Bitconnect, Ethconnect never even put out a real coin or a product at all, for that matter. Everybody who put in any bit of money lost it all.

Wow those devs really went brutal there. They really sold 2 million coins for 5$ after ICO? Funny. Sadly funny. But c'mon people! There was an alert on the first page, you shouldn't have fallen for that... Credible or not, if someone is coming ith proofs, try to believe them a little, it may save your asses next time.

LOL that hilarious people will have to learn eventually 

You would think so, but that doesn't seem to be the case. What's interesting about these "devs" is that they didn't really develop anything except for a poorly-functioning website. Yet the amount of money that people threw at it caused it to malfunction and crash pretty regularly.

Here's my article on Ethconnect if you're interested about learning more:

https://coinclarity.com/spotting-a-scamcoin-ethconnect/

The minimum amount of money they made is around $11 million... The max could be much, much more.

[iqkgeh]

This is too much. Someone who makes money surely loses money. After all, this is a global movement. There are also many people who lose money.

[farhiamunni]

Ethconnect was a scam project. I really feel sorry for those people who believed that scam and invest money there.I am heard that total $3 million dollar was lost. Though I am not sure about it.

[johnabrar]

If the total amount of lost is calculated  by the ICOs of The Ethconnect then the numbers are pretty enormous. Millions of dollars was lost in the Ethconnect.

[vrabac68]

Its happening all the time.Thats why we need more projects like LevelNet which changes the principle and approach to cybersecurity. The steady growth of the industry shows a rising need for cybersecurity products.

[9000]

I can't understand how people continue to invest their savings in the fraud projects. This is a strange way of money spending I heard about another similar project called mmm. Learn about Mavro, this is also a Ponzi shame

[CoinClarity]

I can't understand how people continue to invest their savings in the fraud projects. This is a strange way of money spending I heard about another similar project called mmm. Learn about Mavro, this is also a Ponzi shame

You're the second person to mention that name, I'm sure I'll look into it.

Yeah its pretty amazing how peoples' greed over-rides their critical thinking skills.

[petloer]

As far as i know huge number of money lost in ethconnect. It may be more the millions of dollar. But i don’t know the exact money. If you want to correct amount you can search Google.

[airdropcoin]

Don't worry, don't panic. More people lose money. But what is the loss of money? How can you lose if you don't sell it? With the price of Ethereum now, I think I can buy it right away. So don't panic.

[mariomerula]

stay away from this project.. like bitconnect these projects are simply fake and you will loose your money!

[Crgvictor]

I don’t know the exact amount but without a real token or exchange people will obviously lose their money.

[deep4u]

I didn't had any losses in Ethconnect because I found that project very last so I don't invest there. But I lossed my hard earned money into similar projects where developers dissappear after Ethconnect news.

[batang_bitcoin]

People never learn from these "lending" ICOs/tokens which are obviously going to scam their money after investing.

I can't understand how people continue to invest their savings in the fraud projects. This is a strange way of money spending I heard about another similar project called mmm. Learn about Mavro, this is also a Ponzi shame

You're the second person to mention that name, I'm sure I'll look into it.

Yeah its pretty amazing how peoples' greed over-rides their critical thinking skills.

Yeah they are greedy and wanted to have join and trust those get-rich-schemes.

I have heard about that MMM before and I'm glad that there are people out here that busted their shady scheme.

[CoinClarity]

Don't worry, don't panic. More people lose money. But what is the loss of money? How can you lose if you don't sell it?

I'll tell you how: when people invest in an ICO and never receive their coin or token:

https://etherscan.io/token/0x0a2a94ded0b8c9cb3bd4ec2ef86eeee637a4db7c

That's exactly what happened with Ethconnect. Millions of dollars raised, not a single token ever distributed.

[Xclusive5]

Late last year, the wave of lending coin was all over the crypto world, every ponzi investors admire it and decided to invest huge in ponzi cryptocurrencies. A friend of mine told me about Ethconnect and I warned him not to invest in ponzi crypto but he told me that I will surely miss out. To cut the story short, my friend loose all to ponzi crypto. Those ponzi crypto investment are not good investment because of their economic model which is based on ponzi scheme.