Activity of a scammed ICO

[Magica]

This question is for all the people who fell prey to those assholes in the market.
Kindly share your experience and help the people around. Maybe they follow a pattern.
When did you first realize that the ICO you invested in is a scam? What's the behaviour of the various scammed sites?

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[throwaway309438]

I got scammed by magnalis.network (it's pre-ico is still live so I hope this goes up in a Google search for background checks).

So how I figured out was by sending in the smallest increment of ETH I could to test out the waters, which was a smart move; however I could've dug deeper to minimize any losses. Anyways, I sent it to the ETH address that was provided on my newly created account on the website. After not seeing my funds go through after a couple of hours with my ETH deposit, I tested the site by creating a new fake account.

What'dya know - same ETH deposit address. How could the designated wallet differentiate which person sent how much money and whom to distribute it to? For most ICOs there's a unique deposit address for each account - obviously to not confuse transactions & wallets.

Anyways, the address that EVERYONE gets to deposit Ether for is
0x560833296ef7a7f41b30c1065225fa9b33830c19

and if you check on Etherscan

https://etherscan.io/address/0x560833296ef7a7f41b30c1065225fa9b33830c19

You can see that all the IN (people depositing money into magnalis), have value in them.
Now you can see that most the OUTs (withdrawals from that ETH wallet) have 0 ETH value - as a way to pretend they're giving out ICO coins, when in reality those are blank transactions.

The only OUT address that has ETH value going to it is this address
0xf79acb541519922ab4b545e2079c059c7f08325f

or if you want to check for yourself

https://etherscan.io/address/0xf79acb541519922ab4b545e2079c059c7f08325f

On that link, you can see all the scammed people's collective ETH going onto a Poloniex account - the scammer's account.

I hope this prevents others from being scammed by this.

[3dyx]

maybe we should have to look for reviews from various sites. this can be a reference and comparison whether ico is legit or scam.

[jigglemaster7]

Whats the problem with sending eth to 1 address then sending the tokens back to your wallet??

[ikhub]

I got scammed by magnalis.network (it's pre-ico is still live so I hope this goes up in a Google search for background checks).

So how I figured out was by sending in the smallest increment of ETH I could to test out the waters, which was a smart move; however I could've dug deeper to minimize any losses. Anyways, I sent it to the ETH address that was provided on my newly created account on the website. After not seeing my funds go through after a couple of hours with my ETH deposit, I tested the site by creating a new fake account.

What'dya know - same ETH deposit address. How could the designated wallet differentiate which person sent how much money and whom to distribute it to? For most ICOs there's a unique deposit address for each account - obviously to not confuse transactions & wallets.

Anyways, the address that EVERYONE gets to deposit Ether for is
0x560833296ef7a7f41b30c1065225fa9b33830c19

and if you check on Etherscan

https://etherscan.io/address/0x560833296ef7a7f41b30c1065225fa9b33830c19

You can see that all the IN (people depositing money into magnalis), have value in them.
Now you can see that most the OUTs (withdrawals from that ETH wallet) have 0 ETH value - as a way to pretend they're giving out ICO coins, when in reality those are blank transactions.

The only OUT address that has ETH value going to it is this address
0xf79acb541519922ab4b545e2079c059c7f08325f

or if you want to check for yourself

https://etherscan.io/address/0xf79acb541519922ab4b545e2079c059c7f08325f

On that link, you can see all the scammed people's collective ETH going onto a Poloniex account - the scammer's account.

I hope this prevents others from being scammed by this.

As per your description it does not constitute a scam as yet and it is too early to ascertain as it is in the pre ico stage. Did you receive the tokens btw? Eth works in a different way unlike bitcoin which generates a new address every time. Eth address is also like an account on the eth blockchain and there should not be a problem, rather easier to track all transactions in one place. They will just check from which address the payments came in and will send the tokens to that address. As for your concern of the ZERO transaction amounts, they are contract transactions, ie, when they send out any token, a transaction is created.