Scam alert! Betcoinrakeback.com stole players money

[xbtcollector]

The person running this service seems to have run away with all the players' money. He closed the thread for comments shortly after started getting negative feedback (https://bitcointalk.org/index.php?topic=1612688.0). No-one has received any payments for the last 2 months. He does not answer emails either. Beware!

[ungod]

I can confirm this. I have emailed him also with no response. I just recently asked Betcoin to look into it as well. I saw his rakeback account online on Betcoin today, and this account is alleged to have been seen firing 80 chip dice rolls yesterday.

[cmoltisanti]

I am willing to start a new affiliate service possibly.  One that is not a scam.  I have a 10k+ 13 year account at 2+2 with thousands of bets/transactions and am one of the few rubys at betcoin.  That looks like it might be the best option imo.

What he did with lies etc to keep us playing while he blasted all our money off on dice and wheverever else is shameful and the guy is a complete scumbag.  Anyone know his name irl?

[cmoltisanti]

Another good idea is to just have betcoin add 33% to each of our rb percentages and close xaios account.  Everyone wins.

[Zepher]

I'll leave him a negative rating, and ask him to come to this thread and explain himself.

Will be watching.

[Xiaoxiao]

https://bitcointalk.org/index.php?topic=1612688.msg18891364#msg18891364

Hello everyone, it's time for me to come out with the truth about the recent "delayed" rakeback situation.  This is not easy to do, especially since some of you guys viewed me as a helping hand to resolve issues or expedite support tickets and be an advocate for the players.

The truth is that I have personally mismanaged players' rakeback funds because I have gambled most of it away; I have a gambling problem.  I'm sure Betcoin can attest to this by simply looking at my past gambling records on the site, and most of the cashouts I made were to a few other bitcoin gambling sites which I lost.  The reason I made up the excuse of "delayed rakeback stats" was to buy time so I can get loans or use continued incoming affiliate funds to try to make back what I needed to cover.

In the past you may have noticed there's been similar "delays," though not as prolonged as this one.  Many of which (if not all) were because of my gambling habits in which I lost the funds which I should have set aside to pay out players at the end of the week.  However, I was always able to some how come up with it either taking out loans with every credit line that I have, or somehow winning it back via gambling, which is why this program has been afloat for so long amidst my gambling issues.

I hope you all could see that this delay of player rakeback was not the result of any malicious intent.  I've always tried to help the players under this program to the best of my abilities, a lot of time intervening with support and helping expedite issues they may be having with the ever enhancing Betcoin platform, or sending early rakeback when players needed it.

Currently I am working with Betcoin and a few possible investors to figure out a way to appease all those that haven't received their due rakeback from this program in the past few months.  I have exact records of who is owed what amount.

I apologize and feel incredibly bad for all those that were eagerly awaiting their rakeback, because I've been there before myself.  In no way shape or form have I ever intended to "scam" anyone.  As you know, I started this program back in 2014, and I always did my best to do whatever I can to make sure my players' get their due rakeback.  However this time around I ran out of credit lines and my luck also ran out so I told a bigger lie to buy myself time to figure out a way to come up with player funds.

[Wh0CaR3s]

I can confirm that Xiaoxiao did not pay me since 03/30/17.
That payment being for the week of 03/06/17 to 03/12/17.

The fact that he, once again, locked his own thread - and according to multiple players not answering his PMs - speaks volume.


[EDIT] Since Xiaoxiao came clean now it is time for Betcoin to act on the matter.
Betcoin needs to terminate XiaXiao position as an affiliate (their main one, the only one with such a deal for years) and find a permanent solution for all of his clients.

I'd advocate to lower the rake by 33% for everyone and terminate all affiliate deals (always better to lower the rake across the board than giving special privileges) but if Betcoin still wants to keep affiliates then, either:

1) Put all Xiaoxiao's clients under Betcoin itself with the same 33% deal and with the assurance to always keep the best deal out there as it was the case with Xiaoxiao

2) Allow ALL affiliates to get a 40% deal on poker (top rewards of Betcoin affiliate scheme) and to distribute as they see fit among their clients.
It will allow what should have been done in the first place: that all affiliates fight among themselves to promote the site without fucking over their clients because they had not the possibility to offer as much as the main affiliate who had a special deal with Betcoin (Xiaxiao).


---------------------------------------------------------------------------------------------------------------------------------------------

And since probably a lot of regs will read this thread, please try to raise awareness and put pressure on Betcoin Management so that they finally take action against the BOTs (mostly known: Durrr aka Duremar22 and 8Microman playing from 50NL to 200NL)
It's an ongoing fight since 1 year but I feel a bit alone on that one.
I wrote some posts on Xiaoxio's thread - but now not sure if his thread will stay alive - since Betcoin, as per usual, did delete my post about the subject on their BTCtalk thread.

Here are the posts on the matter:
Post 1: https://bitcointalk.org/index.php?topic=1612688.msg16861058#msg16861058
Post 2: https://bitcointalk.org/index.php?topic=1612688.msg16874992#msg16874992
Post 3: https://bitcointalk.org/index.php?topic=1612688.msg17189780#msg17189780
Post 4: https://bitcointalk.org/index.php?topic=1612688.msg17199629#msg17199629

[Lutpin]

https://bitcointalk.org/index.php?topic=1612688.msg18891364#msg18891364

Hello everyone, it's time for me to come out with the truth about the recent "delayed" rakeback situation.  This is not easy to do, especially since some of you guys viewed me as a helping hand to resolve issues or expedite support tickets and be an advocate for the players.

The truth is that I have personally mismanaged players' rakeback funds because I have gambled most of it away; I have a gambling problem.  I'm sure Betcoin can attest to this by simply looking at my past gambling records on the site, and most of the cashouts I made were to a few other bitcoin gambling sites which I lost.  The reason I made up the excuse of "delayed rakeback stats" was to buy time so I can get loans or use continued incoming affiliate funds to try to make back what I needed to cover.

In the past you may have noticed there's been similar "delays," though not as prolonged as this one.  Many of which (if not all) were because of my gambling habits in which I lost the funds which I should have set aside to pay out players at the end of the week.  However, I was always able to some how come up with it either taking out loans with every credit line that I have, or somehow winning it back via gambling, which is why this program has been afloat for so long amidst my gambling issues.

I hope you all could see that this delay of player rakeback was not the result of any malicious intent.  I've always tried to help the players under this program to the best of my abilities, a lot of time intervening with support and helping expedite issues they may be having with the ever enhancing Betcoin platform, or sending early rakeback when players needed it.

Currently I am working with Betcoin and a few possible investors to figure out a way to appease all those that haven't received their due rakeback from this program in the past few months.  I have exact records of who is owed what amount.

I apologize and feel incredibly bad for all those that were eagerly awaiting their rakeback, because I've been there before myself.  In no way shape or form have I ever intended to "scam" anyone.  As you know, I started this program back in 2014, and I always did my best to do whatever I can to make sure my players' get their due rakeback.  However this time around I ran out of credit lines and my luck also ran out so I told a bigger lie to buy myself time to figure out a way to come up with player funds.

Quoted for future reference, negative rating left.
I'm very sorry to hear about your situation, and you should get help ASAP, but gambling with funds that do not belong to you is a big no-go.
If you have a problem, and you admit having one, you should solve it. Before you have done so, you further shouldn't be trusted with any kind of funds that are not your own.
Possibly not even with your own funds, as you are a risk.

[ungod]

Shouldn't his rakeback thread be deleted? So no new people can sign up under him? Also, does this not warrant a ban?

[cmoltisanti]

LOL Xaio, if betcoin does not ban you they are just as much of a joke as you are.  What a lowlife scumbag pos.

[cmoltisanti]

You stole presumably 10s of thousands of dollars from the community and blew it all on dice.  And now will get nothing from your years of collecting accounts.  You are not only a scumbag but dumb as fuck also....

[game-protect]

I am willing to start a new affiliate service possibly.  One that is not a scam.  I have a 10k+ 13 year account at 2+2 with thousands of bets/transactions and am one of the few rubys at betcoin.  That looks like it might be the best option imo.

What he did with lies etc to keep us playing while he blasted all our money off on dice and wheverever else is shameful and the guy is a complete scumbag.  Anyone know his name irl?

An affiliate service for the publicly proven Betcoin.ag scam is always a scam!

People were warned about the criminal Xiaoxiao and deserve their loss rightfully!

[Lutpin]

Shouldn't his rakeback thread be deleted? So no new people can sign up under him? Also, does this not warrant a ban?

This forum does not moderate scams in any way. You won't be banned for being a scammer. You won't be banned for losing funds belonging to others.
(Let's not start the discussion whether or not it should, why it is that way, or how we like it here, that is how things are, so let's go along with that.)

[JikoKanri]

 

[ONM]

I feel that Betcoin should hold some responsibility in this matter since they had a relationship with this individual, enough to give him a rate that no other affiliate could match.  They funneled people to him (allowing people to switch their affiliates to him) and then watched as he gambled away our money, time after time. 

[Zepher]

I feel that Betcoin should hold some responsibility in this matter since they had a relationship with this individual, enough to give him a rate that no other affiliate could match.  They funneled people to him (allowing people to switch their affiliates to him) and then watched as he gambled away our money, time after time. 

If Betcoin were aware that he was using funds from the rakeback pot, then I fully agree. Considering that Xiaoxiao was gambling on Betcoin (to my knowledge anyway, though please correct me if I am wrong here..) - then they would, and definitely should have known something was up, when funds meant for paying customers was making its' way straight back into Betcoin Wallets. If this is the case, I personally do not see how this was even allowed, or allowed to continue when it was noticed, which come on, it should have been, right? This just makes Betcoin look even worse than they did before this incident. Their reputation has been in tatters for a while, and this incident just tops it off. WP Betcoin.ag. A comment from you on this matter would be appreciated...

[DarkDays]

Just wanted to point out that myself and Twitchy were on to this guy last year and were warning people about him:

I also think it's appropriate to include Xiao's rakeback business' unanswered questions and questionable practices since there's now zero doubt that he works directly for Betcoin.  I'll begin compiling the list but wanted to get it out there now so that as little time as possible can go by with them able to let their scam flag fly without the other side of the story being presented to prospective victims valued customers.

The reason Betcoin is not refunding people is because there is basically nothing to refund.  A lot of people were getting 100%+ rakeback so the higher the rake the more they gained.   You have to consider the amount paid back in VIP RB, 100% bonuses, 100% RB prop player programs, affiliate RB, tablestarter RB etc, all of which Twitchy failed to consider in his calculations.

Ok, show me your calculations then, I've asked you for them many times.  I doubt you or Betcoin has even bothered to calculate anything.

I had already admitted that Betcoin made a mistake due to their inexperience in poker room management (to their credit they are growing exponentially wiser as time goes on).  The reason Betcoin is not refunding people is because there is basically nothing to refund.  A lot of people were getting 100%+ rakeback so the higher the rake the more they gained.

This is far from reality.  Xiaoxiao has continually made derceptive comments like this and then refused to defend them in any way.

Using alts to "defend" himself by making fun of people calling him out on his scams:

I'm 90% sure that Nicesoft is a personal friend posing as just another player or alt account that belongs to Xiaoxiao.  No smoking gun proof, but I'd be surprised if I were wrong (although I wouldn't feel bad considering the shit he's made up about me and pretended like they were fact)


Edit: I wouldn't normally make an accusation like this without evidence to prove it beyond a reasonable doubt.  But I'm making an exception here because they have each proven themselves to be total scum and It would just make perfect sense if the nicesoft account were created with the sole purpose of promoting Betcoin and more specifically Xiaoxiao as an affiliate if you look at the post history (including those posts complaining about late rake-back payments - and the swc affiliate link included in sig)

I wonder what the last lost made by 'nicesoft12' was?

Totally approve of this rb service. I'm at gold now so that's 63% and climbing! The great thing is that Xiao helps me out when support is backed up, and he's always answered my messages within 24hrs.

...oh.

It's also important to note that Xiao has been accused of slow paying people dating back to January of this year.  He deleted all of those posts and started locking his thread to bury reports of people getting scammed.  And then of course he would 'unlock' for 1 minute to bump his thread and then 'lock' it again.  While he was busy actively stealing money.  It seems like this was a predetermined, intentional activity. 

Remember, this guy was advertising for a "Social media creator/manager" as late as two weeks ago.  While he was stealing money and locking his thread so nobody could talk about it, he was trying to take some of that money (.125BTC/week) to pay someone to try to get him more sign ups.  Premeditated.  Ponzi Scheme.  Super illegal.  https://bitcointalk.org/index.php?topic=1876276.msg18649533#msg18649533

Quote for the inevitable deletion:

Your duties will handling social media updates, posts, and adding and accepting friends/followers for the following avenues:

-Facebook

-Twitter

-Instagram

-Youtube

You must be reputable and competent in simple computer tasks as well as semi-knowledgeable in poker.

You must be able to write in proper grammar and be able to dedicate 1-2 hours per day/5-8 hours per week to handle these simple tasks.

Compensation will be .125 ($140) per week.

Please PM or email BetcoinRakeback@gmail.com for more details.

Accepting applications now.

So we know this guy is just pure scum.  The question now is what role did Betcoin play in this?  They clearly employed him, he had unparalleled access to support and possibly the back-end of the site.  They watched while he gambled away money that wasn't his, covered for him, and allowed him to continue scamming their customers. 

I wonder if they are still giving him the money that his "Over 600" players are generating?  I wonder how high up this scam goes? 

[Lutpin]

A comment from you on this matter would be appreciated.

I wonder if they are still giving him the money that his "Over 600" players are generating?  I wonder how high up this scam goes?  

There's a way to find out, let's ask betcoin and see if/how they are willing to comment on the situation.
-> https://bitcointalk.org/index.php?topic=1616139.msg18900715#msg18900715

This is just another in a long list of them abusing customer's funds and trust.  If you get an answer, you should ask them where the rest of Jason's money is, or what the rest of the BBJ money is, or where all of the overraked money is. 

You're assuming I'm not aware of the situation around Jasons Jackpot roll or other incidents. Well, take another look.

[DarkDays]

A comment from you on this matter would be appreciated.

I wonder if they are still giving him the money that his "Over 600" players are generating?  I wonder how high up this scam goes?  

There's a way to find out, let's ask betcoin and see if/how they are willing to comment on the situation.
-> https://bitcointalk.org/index.php?topic=1616139.msg18900715#msg18900715

Sadly, they insta-delete all of my comments.  I've been pointing out their scams and general shadiness for years now.  This is just another in a long list of them abusing customer's funds and trust.  If you get an answer, you should ask them where the rest of Jason's money is, or what the rest of the BBJ money is, or where all of the overraked money is. 

[game-protect]

Partner in crime Xiaoxiao is of course directly from the betcoin.ag scam, as they would never pay a 30 BTC LOSS to a "foreign" affiliate!

Are you seriously mentally brain dead?  That's for casino and sports, which I am at the lowest tier, which means I don't even get greater than 1 BTC per month for that or else I'd move up in tiers.  For poker I am at 40% and giving back 33-38%.

I have an idea who is seriously mentally brain dead!  

It is mathematically and juridically absolute correct to use the average numbers and as long as you do not put the real numbers on the table, I take that one:

1) Your referred players paid BTC75 rake in August

2) 33% fix from betcoin.ag in form of Xiaoxiao + 30% vip rakeback + 25% tablestarter = 88% in average + your countless too good to be true promotions, (do not know) maybe 12% in average = 100% rakeback in average!!!

3) From the BTC75 rake paid in August, betcoin.ag paid 100% back to players and made a 0% gross revenue

4) You received 40% commission of the BTC75 rake paid = 30 BTC

5) Your behaviour created a - 30 BTC LOSS in August for betcoin.ag

6) This clearly confirms that you are a participant of the betcoin.ag scam (and not only an affiliate), as a legitimate company would never pay 30 BTC from their pocket to a foreign affiliate!  


This calculation also confirms that the betcoin.ag scam pays the too good to be true promotions, 58-133% rakeback = 95,5% average + surprise boxes + affiliate commissions + signature campaigns + software provider fees + employees + infrastructure and whatever costs from the player deposits/not paid jackpot winnings/scams and this is called PONZI SCHEME!