Big scam at Waves Decentralized Exchange platform

[gsemep]

The wavelite app allow people to create their own tokens and trade within the Waves Decentralized Exchange (WDE).
So people create a worthless token and named it Bitcoin, Litecoin, Wavecoin, you name it, any coin you can buy at the market, and sell in in the platform at a lower price.
I bought it and found out it`s the fake Bitcoin. I complained to system administrator.
They just reply to me that people can do whatever they want at WDE and they won`t do anything about it.
And I have no chance to get the money back. I even suspected that those fake coins were created just by WDE administrator.
They are cheating people`s money.
I need some advice what I can do next? Could I sue them? Or is there anywhere else I can complain to?
At least to spread this information out . Don't let more people fished by them.

I keep all the information about the trading information and conversation with the WDE administrator.

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[Fortify]

Sounds like people are abusing their "securities trading" platform with a simple bait and switch scam. Have you done any research into people behind it at all? Your post will help other people in future, but it's so easy to fake an identity on the internet and hide over the internet that you have probably lost your money. What made you test this platform in the first place, did you see an advert for it somewhere? Do they have a website or is it purely a phone application?

[erikalui]

Thanks for notifying this issue. I also started using their trading platform but never knew that they would send fake coins which users have created in their account.

Sounds like people are abusing their "securities trading" platform with a simple bait and switch scam. Have you done any research into people behind it at all? Your post will help other people in future, but it's so easy to fake an identity on the internet and hide over the internet that you have probably lost your money. What made you test this platform in the first place, did you see an advert for it somewhere? Do they have a website or is it purely a phone application?

It's within the main waves wallet itself: https://waveswallet.io/

People can create their own assets and name them as per their wish. One wouldn't even know which is a fake btc or real one while buying/selling.

[gsemep]

Sounds like people are abusing their "securities trading" platform with a simple bait and switch scam. Have you done any research into people behind it at all? Your post will help other people in future, but it's so easy to fake an identity on the internet and hide over the internet that you have probably lost your money. What made you test this platform in the first place, did you see an advert for it somewhere? Do they have a website or is it purely a phone application?

Wave coin is at No.20 position of the all the cyber coin market. That's why I believe in them . I download the trading app from their offically website.
But unbelieveable such a big company also cheating people 's money.

[robelneo]

Thanks for notifying this issue. I also started using their trading platform but never knew that they would send fake coins which users have created in their account.

Sounds like people are abusing their "securities trading" platform with a simple bait and switch scam. Have you done any research into people behind it at all? Your post will help other people in future, but it's so easy to fake an identity on the internet and hide over the internet that you have probably lost your money. What made you test this platform in the first place, did you see an advert for it somewhere? Do they have a website or is it purely a phone application?

It's within the main waves wallet itself: https://waveswallet.io/

People can create their own assets and name them as per their wish. One wouldn't even know which is a fake btc or real one while buying/selling.

They will eventually get caught and this will ruin their business,the dev of that platform should go here to clarify and clear the site's reputation many people are now coming here and use their platform,right now any thread about their platform will get a post redirected to this accusation.

[Twiggy Smile]

Dear users of the Wavesplatform,

Any member of the Waves network can create their own assets and distribute to other participants these assets in the Waves network.

Someone does this to attract attention to their token, someone does thisto attract attention to their LPOS pool. Someone has too much free time.

Any token which is created on the Waves platform can be traded on the DEX platform, but only the real bitcoin asset provided by Waves platform can be exchanged for real bitcoin and have a value of 1:1. The real Bitcoin asset has only one asset id: 8LQW8f7P5d5PZM7GtZEBgaqRPGSzS3DfPuiXrURJ4AJS, provided by Waves platform and available on the main page of the lite client (See "BITCOIN" section).

Every verified asset has a green tick.







Any way, we are well aware of this problem and in the future we will add a filtering of names for tokens creation + each user will be able to hide the spam assets.

[gsemep]

The problem is the wavelite platform administrator knew people are selling fake coin. But they doing nothing to stop it.
I record detailed conversation between us. At first they try to let me think those coin are really coin. I don`t need to worry.
 And pretend to help me to transfer them out to my other account.
So it`s reasonable to doubt that they are the one who create those fake coin to cheat others.

And after I finally found out those are fake coins. They just tell me I`m bad luck. My money gone and never come back.
I lost around 5 bitcoins . That`s a really heavy lost for me.

[Twiggy Smile]

So I just open public access for your ticket (Anyone can see our correspondence. We have nothing to hide):

https://wavesplatform.userecho.com/topics/802-need-help-to-transfer-coins

Also you are tried to withdraw unsupported bitcoin asset:

3y7oak8nrFNWnjWVsH7TKL8poXK4oBEUE24UxKdFwpyX

wavesgo.com/transactions.html?CFMz9urMRgQiKhWs5pM4RGy3QMoxapow5ktKruPkGkvo

###

Also to my question:



You answered:



So, I have one very important question for you. How can you prove that these fake assets were created not by you? At least an asset for a lite coin? This is so simple, create an asset only for 1 Waves and trying to get hundreds of dollars as compensation?

While no one litecoin asset does not supported by the wavesplatform.

[gsemep]

I just heard that one more person bought fake coins today . And he lost 15 real bitcoins for it. Why WDE administor doing nothing to stop this kind of scam happen repeadly?
It's so easy for them to stop it if they want to. But they just keep saying that this is nothing to do with them.

[gsemep]

They try to accuse me that maybe I'm the one who create the fake coin and sell to myself and then come to them asking for compensation.
Simple solution just cancel the whole trade . I get my money back , whoever create that fake coins pay back what he cheated .
If I'm the one who create it I won't get any benefit from it.

[maerts]

It is not weird for OP to suspect an administrator since they blatantly ignore a serious issue that has victimised and continues to victimise who knows how many yet they easily block OP’s account for wanting assistance after having lost BTC 5 (USD 12,614.29). Whether justified or not, blocking accounts like this is never the way to go. I have worked at an international company and had strict protocol to follow always. These people appear like hypocrites trying to put a new meaning to ‘decentralised’. I would not be surprised if they actually are involved with the malpractices described judging from what we have gotten to see.

[Twiggy Smile]

Another question for you guys. Why did you use another (fake) bitcoin asset, if by default in the wallet (on the bitcoin side) the REAL bitcoin asset is always selected by default.

So, in other words, you deliberately used another (fake) bitcoin asset:



You deliberately chose another (fake) bitcoin asset, despite the green tick:

[gsemep]

Like I say if the administer want to do something , there`s always something they can do to stop this kind of scam. But they just keep insisting there`s nothing to do with them and nothing they can do. And there's more and more victims. I don't understand why they don't care about their reputation at all.

[robelneo]

Like I say if the administer want to do something , there`s always something they can do to stop this kind of scam. But they just keep insisting there`s nothing to do with them and nothing they can do. And there's more and more victims. I don't understand why they don't care about their reputation at all.

If they are not going to address this issue,many more people will suffer the same,and blocking peopleand and not answering the issues are indication that they are not trustworthy,had similar experience with torwallet where I lost a small amount but they choose to block me than addressing my concern,I see similar issue happening to wavesplatform.

[Twiggy Smile]

I did not say that we will not solve this issue. In the future, we will add a filter for asset names, and fake assets will be excluded, but probably this will require a hard fork of the entire network.

At the moment, there are green labels and default (Bitcoin/USD/EUR) assets, also user not need to change the asset from bitcoin section in DEX platform.

[maerts]

Another question for you guys. Why did you use another (fake) bitcoin asset, if by default in the wallet (on the bitcoin side) the REAL bitcoin asset is always selected by default.

So, in other words, you deliberately used another (fake) bitcoin asset:

https://i.imgur.com/L46gRkr.png

You deliberately chose another (fake) bitcoin asset, despite the green tick:

https://i.imgur.com/41bMrY6.png

This claim is misleading and invalid, and you know it. OP purchased LTC which is not officially supported according to you (#8); there was not a single indicator present for OP to have based their decision on in this case.

Whether OP had ingenuine intentions or not, blocking accounts for such trivial matters show a lot about your way of operating let alone putting fault entirely on users for oversight from your side.

I am sure everyone who has seen this thread (with the actions you have taken in particular) will think twice before considering using your platform now. Good job, Sir.

[V1saya]

This is the problem with decentralization. Some people are abusing and don't even care to harm others. Now i'm thinking that we really have problems making decentralization a norm.

[Twiggy Smile]

This claim is misleading and invalid, and you know it. OP purchased LTC which is not officially supported according to you (#8); there was not a single indicator present for OP to have based their decision on in this case.
Whether OP had ingenuine intentions or not, blocking accounts for such trivial matters show a lot about your way of operating let alone putting fault entirely on users for oversight from your side.
I am sure everyone who has seen this thread (with the actions you have taken in particular) will think twice before considering using your platform now. Good job, Sir.

Litecoin do not have a green tick, because this is not official asset And user saw it perfectly, but he did not want to know - "Why? Why this asset do not have a green ticks?" While other official assets have it.

[maerts]

Litecoin do not have a green tick, because this is not official asset And user saw it perfectly, but he did not want to know

If none of the LTCs listed had a tick or some other kind of indicator, one could not possibly ‘have seen it perfectly’, since there was nothing to base a decision on in the first place. Also, my comments were regarding how you have decided to handle the situation which is wrong no matter what you come up with next.

To be honest, everything is much simpler. If you are an idiot, you will lose money in any case. Even if the waves will block all fake assets, in that case you will lose money, but only because of your stupidity! It's not the fault of the waves, it's only your fault. Think about it, newbie, fake accounts (gsemep and maerts).

‘Fake’? Mate, I am not even a Waves user myself. If someone here must be ‘fake’, it is much more likely to be you (Free-Crypto).

I am done here.

[gsemep]

Yesterday , another people come to our discuss group said that he also bought fake coins. This time he bought fake wave coins.
He lost 15 bitcoins for it . OMG!!!