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[savetheFORUM]

But it was clear that reducing the available supply to benefit the unsuspecting buyers who had bought late was not the goal. In the case of this token, there was an attempt to revive it through a partnership with freebitco.in, but the same thing happened as before: a surge of hype at the time, followed shortly afterward by a downward trend toward zero.

If this was an attempt to revive the FUN token, it was short-sighted, especially on the part of the Freebitcoin team. It’s possible that they invested so many of their own resources into this partnership that it ultimately led to them shutting down and scamming their audience. Who knows, maybe if it weren’t for this partnership, things would be going much better for both Freebitcoin and its audience right now.

According to them, it was abusers and scammers which means their bad security that costs them everything and allowed them to scam us. If we were to be believe what they are saying, even in their scenario we are still screwed, but they are just trying to send the attention towards others and not them. It means, they want us to believe that they were very legit, and only reason we we are seeing what we are seeing today with the situation at hand is because they got scammed, not because they scammed us.

[hosemary]

And I think everything started when they created the Fun Token. Because that is when things started falling apart. Everyone who knows this Casino till now they are in shocked because they were good in the forum.

FUN token was not created by Freebitco. It existed even before it became available on Freebitco. FUN token was created in 2017 while Freebitco started selling it in 2021.
Regarding the impact of FUN tokens on Freebitco's fall, I don't know how much it affect Freebitco, but the issues with Freebitco started in late 2023 which was more than two years after they launched their premium membership.

[Agbe]

FUN token was not created by Freebitco. It existed even before it became available on Freebitco. FUN token was created in 2017 while Freebitco started selling it in 2021.

Wow! I don't know and I thought it was Freebitco that created the FUN Token too. Because the discussion from beginning, FUN Token was attached to Freebitco. Thanks for this information. I know you were following up Freebitco so you have good knowledge about them.

Regarding the impact of FUN tokens on Freebitco's fall, I don't know how much it affect Freebitco, but the issues with Freebitco started in late 2023 which was more than two years after they launched their premium membership.

Since they are were not from one place then the impact of any of them would not affect one another and probably users we discussing the FUN Token here because Freebitco were selling it in their site. I am now getting the picture of the two.

[STT]

Buying up an already established token was a smart move because the work was done, the blockchain proven and the price low post launch.  The token price only rose when it was bought up and promoted on the site, so in terms of cost of development and effort it was clever to do it that way.
   I dont see a problem with that just their present day actions are dull as hell and I wouldn't have expected that for a working business, most people presume it was sold under the table and whoever got it has not a clue how to conduct business.

[Hispo]

Buying up an already established token was a smart move because the work was done, the blockchain proven and the price low post launch.  The token price only rose when it was bought up and promoted on the site, so in terms of cost of development and effort it was clever to do it that way.
   I dont see a problem with that just their present day actions are dull as hell and I wouldn't have expected that for a working business, most people presume it was sold under the table and whoever got it has not a clue how to conduct business.

I am sure there were some very clever actors and insiders which managed to get a lot of money with the selling of this token in the spot market.
Since the beginning, I saw some signals of market manipulation with this token, the way it's price increased with no actual reason, and the way small investors got crushed, while whales and the casino itself continued to profit...
Not even mentioning investors and little players were encouraged to stake and not to touch their tokens at all, for the sake of rewards...

[BADERO]

They did not because they would had had less time in order to run with all the money in their pockets. Just think about it, if they had taken down their domain and simply disappeared, then both users and authorities would have started going after those scammers from the very beginning, by going for a very slow exit scam they have effectively delayed the response from both gamblers/victims and also from authorities. That is also one of the reasons they fooled everyone with those claims about getting money back by half of this year, just to have more time to get whatever they want and launder all those Bitcoins into Tether.

Even I think the same. Their strategy was to have a slow exit all the while.
Doing so, they not only got enough time to launder the money they had but also got time to get some more money in deposits.
People who didn't knew about their scam initially kept on depositing bitcoins on the site.
This strategy worked in their favor but its something we should be aware of, in case something like this happens the next time on some other site.

I don't really get  you, mate from what I know, deposits are paused right now and my point is that they have had enough time to take the money and run, yet they are still around but at the same time, they haven't done anything to enable withdraw

[maydna]

Buying up an already established token was a smart move because the work was done, the blockchain proven and the price low post launch.  The token price only rose when it was bought up and promoted on the site, so in terms of cost of development and effort it was clever to do it that way.
   I dont see a problem with that just their present day actions are dull as hell and I wouldn't have expected that for a working business, most people presume it was sold under the table and whoever got it has not a clue how to conduct business.

I am sure there were some very clever actors and insiders which managed to get a lot of money with the selling of this token in the spot market.
Since the beginning, I saw some signals of market manipulation with this token, the way it's price increased with no actual reason, and the way small investors got crushed, while whales and the casino itself continued to profit...
Not even mentioning investors and little players were encouraged to stake and not to touch their tokens at all, for the sake of rewards...

Those who running this business are smart enough to play the trick. They can running for years and not indicating that they will scams finally. We don't even expecting they run away with all money after this long years.

They really made a huge money, not to mention with FUN token that they sold and have a position in Binance although the token now delisted.

No one knows what will happens but we see that happens and left the desperate members that use their funds to invest there. Big and small investors get this tricky ways without they can get their money.

[dwyane36]

I am sure there were some very clever actors and insiders which managed to get a lot of money with the selling of this token in the spot market.
Since the beginning, I saw some signals of market manipulation with this token, the way it's price increased with no actual reason, and the way small investors got crushed, while whales and the casino itself continued to profit...
Not even mentioning investors and little players were encouraged to stake and not to touch their tokens at all, for the sake of rewards...

If I'm not mistaken, the last noticeable manipulation of the FUN token price occurred last summer, when, shortly after its listing on Poloniex, the FUN token price was sharply pumped first to 2.7 cents and then just as sharply dumped back down. Listing on an exchange like Poloniex alone couldn’t have caused that pump, especially since it was pretty clear even then that Freebitcoin was going to scam people. In other words, there really was no reason to pump the FUN token at that time.

[beerlover]

I really don't think that was the intention when they first created this token. At that time, Freebitco was running well and was one of the trusted sites. The developers would never have thought at that time that they would scam exit, otherwise, they wouldn't have come so far. I think it was later that somehow they were not able to run the site properly, it could be less revenue or competition (many new gambling sites are coming up with better services), we just don't know  

Exactly. I could remember when they were running smoothly in the forum without any problem. And suddenly things started changing and complains here and there. They were not bad in the initial time. And I think everything started when they created the Fun Token. Because that is when things started falling apart. Everyone who knows this Casino till now they are in shocked because they were good in the forum.

Yeah I agree, as someone who has been here even before they were created, and been here on day 1 of creation of this place, even before thequin took over, I could say that it is clear that we have seen this place be a lot better in the early days. We have seen them being legit, real, provably fair, and only faucet website that sustained even after all the faucet era ended. So with their reward systems, the lambos, the betting, and everything else, they became a very big place.

Plus, I bet that they were making a lot of money, so why would they scam anyone? All I can think of is that, they made some bad decisions, thought that they could use our money to grow themselves, and that resulted with a loss, and they couldn't pay us back because of it.

[pawanjain]

I don't really get  you, mate from what I know, deposits are paused right now and my point is that they have had enough time to take the money and run, yet they are still around but at the same time, they haven't done anything to enable withdraw

Back when the issues started with freebitco.in, many people didn't knew about it and still kept on depositing money into the site.
This kept going on until a lot of people started complaining on this forum about freebitco.in.
Then it became evident that freebitco.in has indeed stopped withdrawals and is facing issues with the site.
Instead of running away with the money freebitco.in kept running the site and few people who were not on this forum and unaware of the issues with the site, still deposited money on the site.
It's clear that they won't be enabling any withdrawals or return any money and will keep the site running to lure any victims that they can.

[peterfarge]

I'm trying to transfer my freebitco.in account to a new smartphone. The email confirming the login on the new device isn't arriving. Is this just happening to me, or is the email no longer being sent at all?

[hosemary]

I'm trying to transfer my freebitco.in account to a new smartphone. The email confirming the login on the new device isn't arriving. Is this just happening to me, or is the email no longer being sent at all?

I feel you are not aware of the issues with Freebitco. It's much worse than just not receiving authorization emails.
Freebitco has disabled withdrawals for around 9 months and they don't respond to the complaints at all.


Edit:
I just requested a password reset just to see if the authorization emails are sent and I didn't receive any emails.

[peterfarge]

I'm aware of the issue; I check this thread from time to time.
Thanks for the test. So it's not just me.

[BADERO]

I don't really get  you, mate from what I know, deposits are paused right now and my point is that they have had enough time to take the money and run, yet they are still around but at the same time, they haven't done anything to enable withdraw

Back when the issues started with freebitco.in, many people didn't knew about it and still kept on depositing money into the site.
This kept going on until a lot of people started complaining on this forum about freebitco.in.
Then it became evident that freebitco.in has indeed stopped withdrawals and is facing issues with the site.
Instead of running away with the money freebitco.in kept running the site and few people who were not on this forum and unaware of the issues with the site, still deposited money on the site.
It's clear that they won't be enabling any withdrawals or return any money and will keep the site running to lure any victims that they can.

Okay, so you are  talking about a few months ago, because right now they are warning people on their website not to deposit this is what confused me

[Hispo]

I am sure there were some very clever actors and insiders which managed to get a lot of money with the selling of this token in the spot market.
Since the beginning, I saw some signals of market manipulation with this token, the way it's price increased with no actual reason, and the way small investors got crushed, while whales and the casino itself continued to profit...
Not even mentioning investors and little players were encouraged to stake and not to touch their tokens at all, for the sake of rewards...

If I'm not mistaken, the last noticeable manipulation of the FUN token price occurred last summer, when, shortly after its listing on Poloniex, the FUN token price was sharply pumped first to 2.7 cents and then just as sharply dumped back down. Listing on an exchange like Poloniex alone couldn’t have caused that pump, especially since it was pretty clear even then that Freebitcoin was going to scam people. In other words, there really was no reason to pump the FUN token at that time.

I believe someone within the tem of the token had privileged information the listing in that exchange was about to happen, so they decided to take advantage of it by using their USDT to create buy orders when the news broke up, in order to create artificial FOMO, prompting other people to buy.
When the bubble had reached a good shape and the price was high enough, those who started the FOMO decided to dump all their positions upon those who had no idea and just were riding the wave, hoping to make some money out of it.

I hate when people use their position in markets in order to manipulate others who are unaware of the situation.

[Betwrong]

~ I withdrew 0.007 — about 95% of what I had on freebitco.in. It’s still frustrating that they haven’t processed my last withdrawal (0.0004), but it’s not something you’ll worry much about.

Yes, that good that you were lucky enough to withdraw your funds from freebitco. Actually there were times when they allowed withdrawals and then stopped and then allowed again and the clever ones were able to get their funds out but there were many who thought that these temporary withdrawals issues aren't permanent and they will get resolved as they have been using freebitco for so many years and in those years, they never scammed. So they kept depositing and eventually realized their mistake.

Yeah, I couldn't ignore all the red flags, and there were many. If I’ve learned one thing from my gambling experience over the years, it’s this: never keep more money on a gambling site than you can easily afford to lose, especially when lots of people are complaining about it.

[Shishir99]

Wow! I don't know and I thought it was Freebitco that created the FUN Token too. Because the discussion from beginning, FUN Token was attached to Freebitco. Thanks for this information. I know you were following up Freebitco so you have good knowledge about them.

I didn't know that either. If the Freebitco team is not behind the Fun token, can we really blame them for market manipulation? I really suspect that the Freebitco team is behind the team. How else will they have such an allocation of FUN token? Why would they buy all those FUN tokens and distribute them to their players? What is the benefit of selling someone else's tokens? Because of that, I think they own that Fun token as well. If they do not even own, they are behind the FUN token or they got large amount of money to sell these Shitty tokens.

[Agbe]

I didn't know that either. If the Freebitco team is not behind the Fun token, can we really blame them for market manipulation?

This is technical question which we can't just say yes or no but it would come from the two side. Since they were not the original owners of the token, they manipulated the market price to have gain.

I really suspect that the Freebitco team is behind the team. How else will they have such an allocation of FUN token? Why would they buy all those FUN tokens and distribute them to their players? What is the benefit of selling someone else's tokens? Because of that, I think they own that Fun token as well. If they do not even own, they are behind the FUN token or they got large amount of money to sell these Shitty tokens.

Based on discussions on the thread when the hit started. I was thinking that the FUN Token was theirs but coming to know this is a surprise to me too but it is possible. And it is business probably they stroke a deal with the token company to market it in their casino site and have their share.

[Hispo]

Wow! I don't know and I thought it was Freebitco that created the FUN Token too. Because the discussion from beginning, FUN Token was attached to Freebitco. Thanks for this information. I know you were following up Freebitco so you have good knowledge about them.

I didn't know that either. If the Freebitco team is not behind the Fun token, can we really blame them for market manipulation? I really suspect that the Freebitco team is behind the team. How else will they have such an allocation of FUN token? Why would they buy all those FUN tokens and distribute them to their players? What is the benefit of selling someone else's tokens? Because of that, I think they own that Fun token as well. If they do not even own, they are behind the FUN token or they got large amount of money to sell these Shitty tokens.

There can be many theories on what actually happen between Fun token and those who were behind Freebitcoin. What I think it makes more sense is imagining Fun started as a very small project which actually caught the attention of millions within both the world of gambling and also alt-coin investing, Freebitcoin realized how much potential and attention this project had, so they associated with them secretly and got stakes on the developing team and the direction of the project.

As part of this deal (which the general public had no idea about), Freebitcoin has bestowed with a very substantial amount of Fun tokens, so they could be distributed and integrated within the system of the casino. All this story does not have any sense if Freebitcoin did not have any involvement within the development and direction of Fun, because a casino as big as FB would not pay attention to a token if they did not have something to get out of them, they were a business after all, before they turned into the scam we all witness today unfolding before our very own eyes.

[BADERO]

Wow! I don't know and I thought it was Freebitco that created the FUN Token too. Because the discussion from beginning, FUN Token was attached to Freebitco. Thanks for this information. I know you were following up Freebitco so you have good knowledge about them.

I didn't know that either. If the Freebitco team is not behind the Fun token, can we really blame them for market manipulation? I really suspect that the Freebitco team is behind the team. How else will they have such an allocation of FUN token? Why would they buy all those FUN tokens and distribute them to their players? What is the benefit of selling someone else's tokens? Because of that, I think they own that Fun token as well. If they do not even own, they are behind the FUN token or they got large amount of money to sell these Shitty tokens.

To be completely fair to them, if we look back at the landscape when this transition happened you have to give credit where credit is due and it was a brilliant business idea at the time and it worked flawlessly for years
Even if the chart looks grim today or the tokenomics feel heavy handed now, the initial integration of FUN was a masterstroke