tippin.me exit scam?

[cygan]

as became known today via various websites, the custodial lightning provider tippin.me has several indications of an exit scam. for about three days, users have been complaining that the service is unavailable and that login and withdrawals of their own Bitcoin are no longer possible. there is no trace of the admins, who are not publicly known anyway. anyone who wants to log in to tippin.me currently only gets an error message, and emails cannot be sent to the official support address...



https://stacker.news/items/174226
https://www.nobsbitcoin.com/tippin-me-potential-rug-pull/

[Oshosondy]

as became known today via various websites, the custodial lightning provider tippin.me has several indications of an exit scam. for about three days, users have been complaining that the service is unavailable and that login and withdrawals of their own Bitcoin are no longer possible. there is no trace of the admins, who are not publicly known anyway. anyone who wants to log in to tippin.me currently only gets an error message, and emails cannot be sent to the official support address...



https://stacker.news/items/174226
https://www.nobsbitcoin.com/tippin-me-potential-rug-pull/

I enter the site URL now and it took me to their main page, but this does not mean that it is not yet a scam. Sending email will not be a problem because I do not think the email will not go through, but their may be no response from the developers or customer care.

Their admins are not known to the public, why should people trust them. I can not trust that kind on service.

I did not login because I do not have an account with them. Also I do not know about the withdrawal, but withdrawal is the most important thing. If no one can withdraw their money for some days now with their admin not saying anything yet, this can be a possibly scam.

[coin-investor]

There are reports on their Telegram group that people can log in and withdraw but if there are issues on the platform then people should be in a hurry to withdraw their funds if they failed to update their users and calm them that things are still ok then there's a possibility of exit scam.

[Potato Chips]

Actions like service disruptions wihout a single word from the team greatly lowers down my confidence on a service. Looking at the messages on their TG group, it appears disruptions started more or less two weeks ago and up until now, no word from the team.

Seeing how their Twitter handle last tweeted almost a year ago doesn't help either. Emails bouncing back due to recipient's full mailbox could be a sign of neglect as well - not saying it can't be intentional. I tried sending an email as well and got the same error so it's not fixed yet.

Worth noting that tippin.me changed hands at the end of 2021. It's safe to assume it's not the same old anymore.

Today I can finally announce that I won't be managing Tippin anymore.
It's been a really insightful journey, but it's time to move on. (1/n 🧵👇)

[YOSHIE]

anyone who wants to log in to tippin.me currently only gets an error message, and emails cannot be sent to the official support address...

@cygan, this seems to be a legitimate warning about the Tippin.me flash network web, I saw a scam warning about Tippin.me, on May 5th, on the stacker site, at that time I was able to find out if Tippin.me had a representative on Bitcointalk, but I didn't find it.

Nonetheless, it looks like what you did was right, warning the public about Tippin.me, which has ended up being a scam flash site.

This may need to be published here, for Tippin.me scam warning information, in addition.
A Warning to Users: Tippin.me Potentially an Exit Scam

It has come to my attention that Tippin.me, a once popular lightning network tipping service, may now be a potential exit scam. In this post, I seek to warn and inform users of the possible risks associated with using Tippin.me, as well as offer guidance on best practices when dealing with third-party services.

Tippin.me's lightning node has been down for an extended period, and their support channels—including Telegram, Twitter, and email—have gone silent. Many users, myself included, have found themselves unable to access their funds.

Although the front end of the Tippin.me website remains functional, users are unable to log in and withdraw their funds. Attempting to log in via the site or the Chrome extension results in an "Internal exception" error message. Users who logged into the Chrome extension long ago, when Tippin.me was still active, can see their balances but are unable to withdraw, encountering the same "Internal exception" error.

A glance at the support channels mentioned on their site reveals numerous disheartened comments from users desperately seeking answers.

This situation serves as a cautionary tale for those using third-party services like WalletOfSatoshi. It is essential to minimize the amount of funds held on these platforms, ensuring that only an amount you can afford to lose is at risk. Stay vigilant, and always prioritize the security of your assets.

I hope this warning helps prevent others from falling victim to this potential scam and encourages users to exercise caution when using similar services.

With the information in the quote above, maybe crypto users in general are aware and can avoid the Tippin.me scam now and in the future.

[holydarkness]

I haven't try their tipping platform so I can't be sure what's been happening on it, but it seems the problem can be traced back to as far --and probably even further back-- as February this year where people start to complaining that they can't withdraw. It seems due to their hot wallet being dried, which quite concerning as it could means they uses their users' fund elsewhere, so yeah, definitely a ticking bomb waiting to explode.

[LoyceV]

It seems due to their hot wallet being dried, which quite concerning as it could means they uses their users' fund elsewhere, so yeah, definitely a ticking bomb waiting to explode.

On the other hand, it's not a bad thing for a custodial LN provider to keep the majority of funds in cold storage. They shouldn't be inactive though when the hot wallet is empty.

[Husires]

Several friends recommended me to use this service and I have been using it for a while, but I stopped using Twitter after Elon Musk bought it.
It is unfortunate to see that they have turned to scam and abused customer funds, in addition to the great damage to the reputation of the Lightning Network and the dependence on a third party in its use, although the amounts in most channels will not exceed $100.

will try to check my account but i think will get the same error.
Thanks for the warning. I will be telling my friends who use services like WalletOfSatoshi to avoid it.

[Broadanbig]

What a sorry state for registered members of the platform who could not access their funds. It's unfortunate they had such experience but they should receive the blame for entrusting their assets and funds to a third party when they can easily own a wallet where they could privately store their assets and have control over it.

This would serve them a lesson so in their next investment they would learn to create a wallet and keep their funds Under their own custody and this would make them be very much careful with their investment and conducting proper research before taking any steps as regards funds and investment.