EOS ICO SCAM 👺👺👺 Wow! Can you believe this? 👺👺👺

[Maren]

Check the Chart! Interesting!!!

Yes, the chart now looks indeed interesting. I would like some consolidation phase though with a clear set floor to believe this is not just a pump.

They have enough ETH from earlier rounds to pump themselves and it's untraceable unless they do something silly.

[adrov]

Hundreds of "SCAM" threads, but apparently people still buying EOS. Anyone could share some insight behind that insane PUMP over last few days?

[Kavallo]

Check the Chart! Interesting!!!

Yes, the chart now looks indeed interesting. I would like some consolidation phase though with a clear set floor to believe this is not just a pump.

They have enough ETH from earlier rounds to pump themselves and it's untraceable unless they do something silly.

So you mean there is some clear evidence of scam in looking at the charts? I'd be interested in the details of this.

[MisO69]

Hundreds of "SCAM" threads, but apparently people still buying EOS. Anyone could share some insight behind that insane PUMP over last few days?

Testnet in December is what is fueling this speculation. With another 520 million coins in the ICO waiting to be bought I see this coming back down to sub 10,000 satoshis. So that's another 7 months of ICO before product release with 2 million coins per day being added to the market.

I wouldn't buy now. But that's just me, I like cheap coins.

Another thing to keep in mind is that BTC could skyrocket when/if CME gets bitcoin futures. If bitcoin hits 25K, which is very possible with all of the news lately about institutional investment firms coming on board.. well EOS isn't gonna be worth more than 5K sat..

I should also mention that this coin is in no way a scam. Dan is one of the most talented programmers in this space. When EOS does finally launch its gonna moon.

[sinner]

I'm seeing a pattern here: the addresses below (and many more; below is a sample) receive ETH from Bitfinex, send ETH to EOSCrowdsale address, receive EOS from crowdsale, then send EOS back to Bitfinex.

One explanation is arbitrage.  But according to https://eosscan.io/ the price for period #146 (which ended 25 min ago) was $1.72, and even tho Bitfinex received a ton of EOS right after period #146, the price didn't drop from $1.78 (it may have dropped 2 cents from $1.80).  If this pattern were just arbitrage, I'd expect the crowdsale price to be closer to the exchange prices.  I have witnessed this many times--ICO price a bit below exchange price, but the exchange price doesn't drop right after the period ends.  In other words, this pattern is probably not part of an arbitrage strategy.  If somebody is accumulating EOS, there is no need to send to Bitfinex.

https://etherscan.io/address/0x4e8c49fab23532ef2ed14058639f55cf45bade1e
https://etherscan.io/address/0x59438809e11ef3a9e197de965abbfd6792092b76
https://etherscan.io/address/0x9fad7a730ba976ea8cbcf8fcd6e4c217386520a8
https://etherscan.io/address/0x188fb986e8932e8469578430acaa5a2c12f5c48b
https://etherscan.io/address/0xe3c2e9512ea8026b68f69012944e89238a011ac7
https://etherscan.io/address/0x71d8b9755bbca15fc491e6520c21e319a574680b
https://etherscan.io/address/0xeae47e717bb68f80180382e954320bed9072676b
https://etherscan.io/address/0x8c63dfba829060122225d22c9d1d33841d8468d0
https://etherscan.io/address/0x47fcb6d294aad242088b026ad87867166c375207
https://etherscan.io/address/0xe777cde17e532f78227554607872adbb36597f06

also, EOS seems to be maybe the most transacted token at finex:
https://etherscan.io/tokentxns?a=0x1151314c646ce4e0efd76d1af4760ae66a9fe30f&p=1

I am a huge fan of Dan Larimer, Steemit is a wonderful platform, and I really like the EOS project.  However, I cannot come up with a legitimate reason for the pattern I am seeing above.  The only explanation I can come up with is that ETH is being recycled into the ICO, and Bitfinex is being used to hide this recycling.  I hope I am wrong about this.  I trust Dan, and I would assume he's probably not involved in handling ICO funds.

Furthermore, suppose recycling of ETH was occurring.  The above behavior is exactly what you would expect to see.

Who has access to EOS ICO funds?
block.one claims the ICO is being audited.. when can I review this audit?

I've seen this: https://eos.io/faq.html but I don't blindly trust, especially with no way to verify.

26. Will block.one be contributing to the EOS Token distribution?
No, during the entire EOS Token distribution period, block.one will not do any of the following:
block.one will not purchase EOS Tokens by any means;
block.one will not pay any dividends to its shareholders; and
block.one will not perform any share buybacks.
block.one intends to engage an independent third party auditor who will release an independent audit report providing further assurances that block.one has not purchased EOS Tokens during the EOS Token distribution period or traded EOS Tokens (including using proceeds from the EOS Token distribution for these purposes). This report will be made available to the public on the eos.io website.

[Kavallo]

The only explanation I can come up with is that ETH is being recycled into the ICO, and Bitfinex is being used to hide this recycling.  I hope I am wrong about this.  I trust Dan, and I would assume he's probably not involved in handling ICO funds.

Furthermore, suppose recycling of ETH was occurring.  The above behavior is exactly what you would expect to see.

What do you mean exactly for recycling? Which would be the logical purpose of this operation? I guess if I think for an hour on this issue I could understand the mechanism by myself, but laziness pushes me to ask you.

[KingScorpio]

Ok just a little recap on the EOS fraud

1. there is no EOS platform as of yet, we are talking about a fork of BitShares. again: there is no functional platform whatsoever as of yet.  In other words: a mere promise is being sold

2. 1 year long ICO to collect a significant percentage of the entire ETH supply. Nobody would ever need this much money to create the platform. Astronomically more money is being raised than would ever be required. First day (of 350 more days) only: $181,295,950 (ico address here, also note the ETH that has already been moved out)

3. creates a fake sense that EOS is a true competitor to Ethereum, but in reality EOS as of now is a simle token run on the Ethereum platform

4. uses ETH raised in the ICO to generate fake price and fake demand on exchanges

The price in only hype thing, EOS team use ETH from crowdsale to hype market, they send 20000ETH to Bitfinex and 2000 ETH to Kraken to do hype, for yunbi.com, lixiaolai is an investor/co-owner and he is member of EOS team too, so the hype in yunbi is crazy.

https://etherscan.io/address/0x9937dbb2128b55c44d8af7bf36fd76796a814cf4#internaltx

In summary,nothing much, just hype with the money from investors, not sure whether this is legal or not.

5. let people buy in, milk the crowd who doesn't know better!


==>  EOS is a very nifty scam to enrich their founders with ETHER, this is what it's all about

we can safely say that there has not been a scam as advanced as EOS in the crypto sphere up to now.

this is an entirely new level of insanity

Look through it!

i question myself all the time what is eos why is it good?
are people question themselves what they are buying

what the hell is an open source company?

is this a company in which all employees are 24h monitored through the internet? who would want to work there? all stock nominated companies are transparent and reporting their businesses regularily what is an open source company seriously? are they reselling relabeled snow from yesterday?

are they selling an online transparent reporting company as something completely new as an "open source company" 

[Jacquelinejk]

yeah, I did not engage to this ICO Scam. I was planning to withdraw my ETH from my MEW when I read a Twitter post about this scam. Hope theres a copyright protection or authorization to fork an existing system in github. This would lessen the sprouting of scam icos.

[KingScorpio]

yeah, I did not engage to this ICO Scam. I was planning to withdraw my ETH from my MEW when I read a Twitter post about this scam. Hope theres a copyright protection or authorization to fork an existing system in github. This would lessen the sprouting of scam icos.

this is currently with distance by far the most successful ico and it looks weird i asked mutliple times what the usage of this eos is and no one answers me,

how is eos decentral when it is based on ethereum

and the eos ceo tells us ethereum and bitcoin arent decentral

[KingScorpio]

Ok just a little recap on the EOS fraud

1. there is no EOS platform as of yet, we are talking about a fork of BitShares. again: there is no functional platform whatsoever as of yet.  In other words: a mere promise is being sold

2. 1 year long ICO to collect a significant percentage of the entire ETH supply. Nobody would ever need this much money to create the platform. Astronomically more money is being raised than would ever be required. First day (of 350 more days) only: $181,295,950 (ico address here, also note the ETH that has already been moved out)

3. creates a fake sense that EOS is a true competitor to Ethereum, but in reality EOS as of now is a simle token run on the Ethereum platform

4. uses ETH raised in the ICO to generate fake price and fake demand on exchanges

The price in only hype thing, EOS team use ETH from crowdsale to hype market, they send 20000ETH to Bitfinex and 2000 ETH to Kraken to do hype, for yunbi.com, lixiaolai is an investor/co-owner and he is member of EOS team too, so the hype in yunbi is crazy.

https://etherscan.io/address/0x9937dbb2128b55c44d8af7bf36fd76796a814cf4#internaltx

In summary,nothing much, just hype with the money from investors, not sure whether this is legal or not.

5. let people buy in, milk the crowd who doesn't know better!


==>  EOS is a very nifty scam to enrich their founders with ETHER, this is what it's all about

we can safely say that there has not been a scam as advanced as EOS in the crypto sphere up to now.

this is an entirely new level of insanity

Look through it!

if eos turnes out to be scam what it looks like you better sell quickly your ethereum before the eos ico ownwers will start doing this, ethereum will drop by 80%+

but i mentioned this issue before, scam icos are systematically better at marketing they dont have to use their funds for the project they just scam the people and use the funds to market more and scam even more,

regards

[raven.tiu17]

they have great devs and project is on going! why did you say that thing? EOS is in the top 14 right now and its keeps on pumping now a days. maybe you're misleading bout the articles you should read the whitepaper

[KingScorpio]

they have great devs and project is on going! why did you say that thing? EOS is in the top 14 right now and its keeps on pumping now a days. maybe you're misleading bout the articles you should read the whitepaper

i read it, what is the use if this?

what is an open source company?

what is that supposed to be?

[Pamelaher]

At the current rate, their ICO will rake in more than a billion. Well if they succeed, good for them. It's true that Dan's cat could use a golden shower.

[KingScorpio]

At the current rate, their ICO will rake in more than a billion. Well if they succeed, good for them. It's true that Dan's cat could use a golden shower.

what are they doing on the caiman islands then?

[bribed]

I dont know if its a real scam, but I stayed away from EOS since day one. As soon as I saw the ICO scheme I thought to myself that this is just a real greedy money grab. Never will touch this, even if it becomes successful. I dont know if its scam though, the founder is legit in cryptospace or not?

[Pamelaher]

At the current rate, their ICO will rake in more than a billion. Well if they succeed, good for them. It's true that Dan's cat could use a golden shower.

As all of this has been known and discussed even before ICO started, that ico windows are lottery, that people will rush in last minutes and overshoot market price.

[ron_mexico]

At the current ETH price they already collected 661 638 352 USD according to this smart contract monitor: https://icomonitor.io/#/0xd0a6E6C54DbC68Db5db3A091B171A77407Ff7ccf

[Hazara]

It's not a scam project, an other company is developing the blockchain, I ll come back later on it, first I need to fill my own bags cus what was airdroped 1 month ago ll moon on July 2018

[DosManos]

i'll tell you what
i was watching this coin when it was 0.7$,
i saw that dan larmier says "we dont need fund because we already funded" , but still he keeps and never ending ICO
then i read more about it and realized that the amount of EOS is not fixed (means they can change the amount when release the platform)
and few more red flags, that you can also find in youtube...
i found a similar project that called Cardano, made a research and found it a lot more reliable coin
but ADA made barely x2 and EOS made almost x5
i really hope that i was right for the long run..

[zantezu]

Nowadays everything seem to be a scam, and the way the word their FAQ kind of confirm those theories but in the same time crypto-currencies are an untapped territory and right now there are a lot or risks associated to them, developers are just protecting their project. That is pretty much the reason why everyone is avoiding the sale of currency in USA. Here they would sue you in no time for anything...
But EOS seem to be a really legitimate project, my only complain is that the creator of EOS is handling 3 projects at the same time... bitshare , steemit and EOS.... that is a lot of stuffs going on.