sluz
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November 06, 2025, 08:50:39 AM
Last edit: November 06, 2025, 09:02:01 AM by sluz |
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I should point out that I'm using a translator, so don't get too excited about any errors.
I've been reading this thread for over a year, roughly since the problems with awarding WOF for premium status began. I only found the latest news today because I'd been reading this thread every few days or so. It took me a long time because of the hundreds of pointless posts that contribute nothing. Nevertheless, there's some important information here, and I don't regret wasting so much time reading it.
I've been a user of this site for a very long time. I remember when they were giving away 800 satoshi for a roll. Somewhere in the FAQ, it says, "We're giving away small amounts today, but thanks to this, you can become a millionaire in the future." I really liked it, and it's actually quite true. But let's get to the point. I'll address a few user comments, but without pointless quoting, as it would stretch the topic too far.
1. Bankruptcy via the Freebitco website.
I don't mean to offend anyone, but I sincerely apologize and with all due respect. People who write that they based some business model on this website and that it was their income or that they deposited their life savings are either children or have the intellect of a child. When I created an account on this website, it was a plus for me that there was no need to confirm anything, practically no terms and conditions, just simple rules. I'm not bound by anything to the website, but at the same time, it was clear from the beginning that it works the other way around, i.e., with the owners of the faucet. They were there, and suddenly they're gone. Unfortunately, people who lost their fortunes here have to accept it and come to terms with it. They just have to work through it. Just like working through a problem with a psychologist. Then it will help them. These types of people, if not here, would have been scammed elsewhere. You can't protect everyone from such traps, especially since this case concerns the cryptocurrency industry.
However, I've been scammed several times in my cryptocurrency career. Suffice it to say that most of the exchanges I used were hacked and shut down—there were dozens of them. I bought my first Bitcoin for around $10 long before the bubble in 2013. Something like that. Perhaps that's why, with some experience, I managed to avoid losing my FreeBitco funds.
2. Problems? We save what's there.
If you haven't figured this out yet, remember this once and for all. If any problems arise, whether on the exchange, at the faucet, or anywhere else, even at the bank, we don't hesitate; we act. We save the funds as they are, and only then do we observe what's happening. The problems with WOF manifested themselves in stages. I remember the first problem was that the countdown clock stopped, counting down the number of days my FUN tokens were locked. Then there was a problem with spins being awarded. Red flag, I withdrew the funds, and only then did I investigate what was happening and came across this thread.
3. Millions of users
I estimate that at its peak, from 2016 to 2020, there were around 100k 200k, or 300,000 users, but certainly not millions. I think I had six accounts myself. I've forgotten the chases for some, and for others, I had other things. Some people posted messages about ticket counts and the like. This is also valuable information. It doesn't give an exact number of users, but it gives a rough idea of their number.
Another thing that confirms the relatively low number of users is the "daily jackpot." When betting on Multiply 500sat, we're in the daily ranking of participants. With a stake of 500sat, I've never seen more than about 5,000 users. That means about 5,000 people bet on Multiply daily. Add people who bet, say, once a month, and let's say 5,000. And add people who don't bet at all, let's say even x10, and that's only 60,000 active users. The rest are abandoned and unused accounts.
4. What could have happened?
In my opinion, based on my observations and the information I've read here, I believe the FUN token was used in an exit scam. As "GET PAID" wrote, the freebitcoin faucet was a phenomenon in the beginning. These were early adopters who wanted to promote Bitcoin. They had thousands of bitcoins, plus mining facilities. The FAQ used to list the current mining capacity of their mines. There was even an option to mine Bitcoin by keeping their website open. But this option was only available for a short time. Apparently, it wasn't very effective. In any case, nowadays, the faucet's role has changed from promoting cryptocurrencies to a reliable way of earning money for the operator. Initially, I don't think there was a multiplier on the freebitcoin website, but I don't remember. The success lasted for several years, as the site developed, new features were added, etc. But no one is doing anything charitable. The faucet's role changed from promoting Bitcoin to generating income, which is why various new features were added. At the same time: the price of mint was rising and the faucet turned into a casino, but it did not bring satisfactory income.
Additionally, as "GET PAID" wrote, there was a base of early adopters who had accumulated or deposited large amounts of BTC, having done so when it was worth very little. This was an additional burden. And on top of that, there was the "4% earning." They needed a way to devalue their BTC liabilities and earn extra cash. That's why they bought FUN at a very low price. (Someone probably wrote how much of this token they bought. It's about what percentage of FUN's supply.) And they made it available for exchange for WOF spins through a premium program. The freebitocin team, whoever they are, correctly assumed that the price of FUN would approach 0. (99% of such tokens tend to do this in the long run. I'm not judging whether the FUN team and frebitcoin are related.)
When I bought FUN, it was 100 sat, and at its peak, it'll probably reach 167 sat. If anyone wants to do the math, let's assume the average BTC FUN exchange was 100 sat, and now it's 2 sat. We all traded our BTC for a FUN token that will soon be worth 100x less than on the day of the exchange.
If what I've described is more or less true, then you have to admit that it took a lot of work to deceive us. The whole premium program. And this lie looks beautiful.
5. A little about statistics and multiply
I played "free play" for maybe 50,000 and got:
never 10,000
never 9998-9999
1x 9994-9997, specifically 9997
4x 9986-9993
many times 9886-9985
I've never won the lottery, and I've bought hundreds of thousands of tickets.
Multiply? I won't test it, but this game seems strange to me:
One account is unlucky and the other is lucky. On one account, I never hit the 8888 jackpot, even though I bet a lot. On another, I bet little, but hit 8888 many times.
The same with HI LO. How is it possible that after a session of about 10,000 rolls, everything was fine? After the session ended, a second session immediately followed, and I went bankrupt after the first dozen or so rolls. The probability is right. However, it does seem very strange.
6. Take matters into your own hands.
Some people write: check this, check that. Have you lost a lot of BTC? Get to work and explore possible exits. I, and no one else, won't do it for you. There's a lot of information here that's worth digging into. If I lost hundreds of thousands of dollars here, I'd even call the president.
The site is still operational, so there's always a slim chance that Frebitcoin will come back to life and resume payouts. However, the probability is lower than hitting that legendary 10,000.
Contacting Binance was a great idea. About a month ago, someone posted that Frebitcoin was synchronizing wallets. It should be easy to find who wrote it. There are plenty of threads.
I'll finish by emphasizing that this is solely my opinion. The hypotheses I've made here don't have to be true. Hang in there. Don't panic.
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