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Author Topic: ubonium.com [endorsed by aTriz] and brandnetwork.net a SCAM  (Read 44 times)
Heisenberg_Hunter
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May 29, 2018, 05:25:21 PM
 #1

Bounty Managers and Bounty Hunters play a vital role in marketing of an ICO. If the Bounty Manager is a trusted guy, then most of the bounty hunters hunt for the bounties by marketing the project vigorously. Such marketing strategies force most of the investors to invest in a project. A similar situation occurred in forum already where a SCAM project was endorsed by a popular manager and a member invested in the project and lost his investment. This incident triggered lots of investigations against the bounty manager. Following this incident, the bounty manager ended up loosing his positive trust and has been very inactive in this forum now.

During this period I came across a SCAM project named UBONIUM which was promoted by aTriz by organizing a Bounty. Bounty Hunters began marketing the Scam project by joining in signature campaigns, facebook, twitter and content campaigns. I can't exactly say did the Investors really invested in this project or not. During April, suddenly the ICO of Ubonium was closed stating the hard cap was reached successfully. Bounty Hunters too believed and were expecting good pay in the campaign.

ANN Thread for Ubonium : https://bitcointalk.org/index.php?topic=3029484.0 Archived for reference
Bounty Thread for Ubonium : https://bitcointalk.org/index.php?topic=3036847.0 Archived for reference
Ubonium Website : www.ubonium.com/

I searched for the Ubocoin in etherscan and ended up with the contract address : https://etherscan.io/token/0x51b3e8bc61e9c21e979468379d3147d6b955b79f

I further investigated for the transfers and found a particular address where 10,000 ubocoins were transferred. In the token Balances there was a coin named Brandcoin which lead me to a site www.brandnetwork.net

To my amusement the team involved with Ubonium and Brandex were both same and they have started their new ICO Scam which will commence in 2 days.  Grin Grin Grin Its really fun to see how badly the Brandex whitepaper was written and they copied almost all the lines from ubonium whitepaper.
I even joined their telegram group to check if the same scammers were managing both the projects and I ended up with a positive result that both of these projects are nothing but Scams.

Similarly they will hire a reputed bounty manager and announce their ICO and Bounty and the Bounty Hunters and Investors would invest their time and money in the ICO and lose them. Hope bounty managers won't promote the Brandcoins by reading this thread.

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May 29, 2018, 06:20:30 PM
 #2

Similarly they will hire a reputed bounty manager and announce their ICO and Bounty and the Bounty Hunters and Investors would invest their time and money in the ICO and lose them. Hope bounty managers won't promote the Brandcoins by reading this thread.
Literally, the job of the bounty manager is to manage the bounty campaign.By managing I mean, updating the sheets, kicking out spammers/cheaters and maybe distributing bounties.It's really upto the investors/bounty hunters to do their research before starting the bounties.

Bounty manager could do a bit of research but even if the projects turns out to be a scam, they could really care less as they get paid per week.They aren't really 'promoting' anything here.Like I said, they're managing the sheets.Bounty hunters are the one's that should be careful while participating in the bounties regardless of who is managing it.

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May 29, 2018, 06:39:03 PM
 #3

they could really care less as they get paid per week.
I disagree with that part of your statement, because the manager's reputation is definitely on the line if the project turns out to be a scam and I think the more reputable managers do care.  One need look no farther than aTriz to see that this is the case--but of course it's also true that the manager would need to know about the scam ahead of time and has a duty (IMO) to warn people if and when they find out about it.  Unfortunately for aTriz, he knew about the dishonesty of the campaign he was managing and went along with it.

Managers really should do some due diligence about the projects for which they're managing the campaigns/bounties, and I suspect that many of them either don't care--since they think that's not their business--or are in on the scam.  If you take a look at some of these ICO bounties, it's obvious the managers are part of the team or just don't give a shit what happens as long as they get paid.  This is one reason why I'll never join one of those.

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May 29, 2018, 06:46:00 PM
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I disagree with that part of your statement, because the manager's reputation is definitely on the line if the project turns out to be a scam.
I agree.But no matter how much you research and do your background checks, there are still services which are so well presented that the managers will fail to notice their real intentions.

Unfortunately for aTriz, he knew about the dishonesty of the campaign he was managing and went along with it.
Yeah that's the bad part.

Managers really should do some due diligence about the projects for which they're managing the campaigns/bounties, and I suspect that many of them either don't care--since they think that's not their business--or are in on the scam.  If you take a look at some of these ICO bounties, it's obvious the managers are part of the team or just don't give a shit what happens as long as they get paid.  This is one reason why I'll never join one of those.
You're right.If that bounty seems like an obvious scam, it's the responsibility of the managers to warn the participants.I'm talking about worst case scenarios here like https://bitcointalk.org/index.php?topic=1266987.msg13086584#msg13086584   a scam so well managed and was also advertised on the forum adds.

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