Orencoin the latest scam?

[TwoCorn]

I have been doing some research lately into Bitcoin and cryptocurrency scams and I came across Orencoin. It seems that all of their contact info went dead just as the bounty campaign was about to wrap up a couple of days ago.

Here's the bounty thread:
https://bitcointalk.org/index.php?topic=2161011.0

Their website went dark. Twitter, Facebook, and Telegram accounts are closed or deleted. The bounty participants were not paid. It looks like they took off with any ICO funds they might have raised.

Anybody have any other information on Oren that they would like to share?

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[Tsapp]

Yes same here....I sunk about $2200.00 in them and pooff....it was gone!

TIM
I believe in God but more importantly I believe in Good things.....I wish them well with everything they will be going through. Those of us that have lost money......It will come back to us if we stay positive and be smarter for now now.


I'm a specialist and not a scavenger, I will hunt but not be hunted. I will help but not be helpless. Good things will come from the good things I share!!!!!!
Tim

[adam1230]

You cant find the latest scam here every minute a scam coin-token launching. don't try to find them.
There are really good ICOs for  october-november. Keep an eye on them

[VackFromOhm]

You cant find the latest scam here every minute a scam coin-token launching. don't try to find them.
There are really good ICOs for  october-november. Keep an eye on them

Yep, as they said, the scams appear at a mile a minute, so there's no point in trying to keep up. Best idea is to follow those that are known to be as trustable as any, and stick with them. When you delve into new coins like this, and invest in the ICO, it's on you. You really should wait to invest in an ICO until they have a really good repertoire of good business practices, and even then, you're asking for trouble.

That's why I just stay away from ICOs, even though sometimes I might have made a lot of money off of them. It's a gamble, and that's my decision.

[TwoCorn]

Yes, I agree. The scams are everywhere, especially in an industry like this that is unregulated. But they hurt the industry and inevitably invite governments to enact legal restrictions to 'protect' us. But in the end they mostly restrict our freedoms.

I'm trying to figure out how these ICO scammers operate in order to better inform people. Most people don't try very hard or do their own due diligence, but maybe some will learn. There is a good thread on how to choose ICO's here:


https://bitcointalk.org/index.php?topic=2243157.0

[TwoCorn]

I wrote up a bit about what was happening behind the scenes with the bounty campaign. I'll continue doing research into ICO scams and posting on it

https://steemit.com/cryptocurrency/@cryptospooge/the-anatomy-of-an-ico-scam-part-1