Otho.network scam - beware (a good lesson for all)

[Ojengonggu]

BTT members are very thorough and meticulous I say thank you. Honestly I participated in bounty campaign otho and never see the progress of this project and just now I try to open twitter and facebook as expressed by the 99th is true

[ilnick]

I don't even understand why some of these scammy projects spend so much effort and time to make like $10k-$20k when they could make millions delivering a decent project. If you have the skills to build such a nice website, forum, roadmap, social network etc...and go through the process of doing an elaborate air drop, you are essentially paying $5k to make $10k over the couse of 3 months or so. It seems like you could make more just building websites? I don't know....I guess I can't think like a douchebag scammer. If anyone can explain the logic behind this shit, please enlighten me.

I'm just as surprised. The project and its bounty looked so good. It would be a pity time, if it was the only project of its kind.

[dukemc]

Thank you for your information - hopefully others find a way to regulate ICOs and if Vitalik´s DAICO will be adapted in the near future there is a naturally sorting of such scam icos

[99th]

Glad I actually helped many of you. If anything, I learned a valuable lesson and also feel more obligated to the bitcointalk community than ever before. If we can be sure to alert each other quickly when these things happen, we are surely saving each other from wasting time, energy, and money. In the future I will be more diligent to ask questions and dig deeper into a team than I have been in the past. I guess when something looks too good to be true it is. Sadly, if I had gotten out when I thought I should, I would have made about $1,000 from the 1100 OTH I had from the original airdrop, 2nd round, and the community awards. I'm kicking myself in the ass because I am not only out the time, energy, and money from the bounty and future airdrops (POS), but I believed so much in the project I didn't sell when I had the chance to make a very good profit.

I am learning so much, but it is truly painful. 

[sieemma]

So the otho.network team executed a pretty good scam. Those of us in the project from the beginning have now been banned from their telegram and forums for outing this scam. We found out the sad news last night and over the course of today. I hope many of you didn't lose any money, for those of you that did I feel your pain and quite a few others as well.

This thread will hopefully prevent anyone else from being screwed over by these scumbags. Here is a few links to provide proof.

So this is a good lesson on how you can even be scammed by free airdrops. Disappointed is an understatement.

Otho.network - check the community aka forum pages, specifically the bounty and kucoin listing threads - http://forum.otho.network/

Twitter account was deleted earlier - https://mobile.twitter.com/Otho_Network

Facebook account was deleted earlier - https://m.facebook.com/Otho.Network/

Check the telegram channel and scroll through the last day's messages to see the bad news and how we figured it out - https://t.me/OthoNetworkCommunity

Their official bounty thread - https://bitcointalk.org/index.php?topic=2719981.0

Official ANN thread - https://bitcointalk.org/index.php?topic=2701173.0

I don't like the idea of ICOs being regulated but if this is how things are going to remain, then I think giving a body the chance to regulate icos will kind of put a stop to all this scam projects. I read threads of people accusing projects of scam and many others which is somehow degrading the good name of crypto as a whole.

[QueenOfCrypto]

Since this exit scam happened more or less at the same time of the F0me exit scam, I am now wondering if perhaps it was the same scammer behind.

[99th]

So the otho.network team executed a pretty good scam. Those of us in the project from the beginning have now been banned from their telegram and forums for outing this scam. We found out the sad news last night and over the course of today. I hope many of you didn't lose any money, for those of you that did I feel your pain and quite a few others as well.

This thread will hopefully prevent anyone else from being screwed over by these scumbags. Here is a few links to provide proof.

So this is a good lesson on how you can even be scammed by free airdrops. Disappointed is an understatement.

Otho.network - check the community aka forum pages, specifically the bounty and kucoin listing threads - http://forum.otho.network/

Twitter account was deleted earlier - https://mobile.twitter.com/Otho_Network

Facebook account was deleted earlier - https://m.facebook.com/Otho.Network/

Check the telegram channel and scroll through the last day's messages to see the bad news and how we figured it out - https://t.me/OthoNetworkCommunity

Their official bounty thread - https://bitcointalk.org/index.php?topic=2719981.0

Official ANN thread - https://bitcointalk.org/index.php?topic=2701173.0

I don't like the idea of ICOs being regulated but if this is how things are going to remain, then I think giving a body the chance to regulate icos will kind of put a stop to all this scam projects. I read threads of people accusing projects of scam and many others which is somehow degrading the good name of crypto as a whole.

I am starting to think the same way. I am against the idea of regulation, but something needs to be done before crypto is looked at like a complete waste of time where people get scammed once out of every 5 ICOs. The fact that 99% of these scammers are going unpunished just creates more desire for people to scam others too. Quite a sad and viscous loop we have become part of.

Not sure what the answer is - maybe it's Vitalik's daico. I am thinking more and more his idea is the best to come out since ethereum itself.

[goah]

dam. im really surprised. lost time in the oth bounty. thanks for ann.

[99th]

dam. im really surprised. lost time in the oth bounty. thanks for ann.

Yeah, for sure. You would think there would be a forum section just for known scams at this point, where we could just glance it over on a daily basis and know what to stay away from. I think a forum section like that would be a great addition to this forum as a whole. Protecting newbies and people with very little experience such as myself is vitally important to crypo's growth as a whole.

[FreeHamster]

Since this exit scam happened more or less at the same time of the F0me exit scam, I am now wondering if perhaps it was the same scammer behind.

True you never know, could be one and the same, who knows

Unfortunately even in regulated markets like for example share markets and property you get people running scams.

[99th]

I tried their site today from my friend's computer and it looks like they definitely closed shop.

Lol I think in total these asshats may have gotten away with about $5k. What a total waste of time for everyone involved including the scammers. This will forever go down as the dumbest scam that I have been a part of.

[AIRDROPSQUAD]

I never trust companies which attract people to their project by referring system. Most of such project are become scam

Damn! this very true buddy! I getting annoyed by ICO project using a referral system. Come on, this is a crypto, not an MLM group.
Sorry for OTHO community. This is a good lesson you all.

[Ros-In]

The questions is why. Why tf they do that ? Its like you just need to take another step to be success but throw it and chose to be scam, They know if they patience enough and do all the job perfectly their token will have grea value and they gonna get prize for that. A bunch of idiot i guess

[EHT7500]

Many of the ICO's dead were doomed from the very beginning. It's no wonder that projects like Clitcoin, Neverdie and Zero Traffic have not materialized. Those who failed with fundraising do it again in the new year and hope that the failure of 2017 can be written off as a trial period. One such example is, perhaps, the platform for freight traffic Doft.

[Norcal2020]

This was a complete surprise for me, for $ 300 I received an excellent lesson and life experience 

Same situation here. Lesson learned for sure. I have been hit by a few exit scams and fortunately, only put in a few hundred dollars in a few of them, so it stings but I knew the risk when investing.  Will make me question some of the other airdrops I'm part of.  Otho sure went the extra mile for their possible small return.

[dicaprio]

Thank you for such valuable information, I really did not hear about such a project, but now I will know what a project is and what it is scam, this is another lesson for young and new investors. You can not trust anyone.

[99th]

Thank you for such valuable information, I really did not hear about such a project, but now I will know what a project is and what it is scam, this is another lesson for young and new investors. You can not trust anyone.

I see people still promoting this around the forums. Please be advised this was a total scam and you will lose any money you invest.

Do some research on any project you are told to invest in before doing so. Crypto is the Wild West and you need to be careful.

[PapaJ]

Thanks for the warning! It is a pity that such projects are increasingly found in the cryptoworld!

[TheCryptoChaser]

I'm kinda sad for people who invested in OTHO. I was in their bounty program and we got scammed as well. You never know what could happen to be honest. it seemed legit company and even they were very active on their social media accounts. Sorry for the community. Thanks for the warning. Cheers !

[mrcastelo]

I'm also sorry for the people who invested in Otho Network. Me too, i invested time and effort with this ICO because I join their bounty campaign. If I just knew it asap I would not be able to promote it.