SCAM ALERT!! Adab Solutions - So Called Islamic Crypto Exchange is Haraam

[JollyGood]

they reduce bounty 80% ,  what I get from twitter just 66 adab token from 253.6 adab and in signature I never got my bounty token even I in the final spreadsheet from adab team   and distribution for signature have been passed , if based spreadsheet from bounty manager I get 40000 adab but why I get just 66 , ISLAM is not like this ISLAM is honest

Please post here stating once again how much you were scammed out of. Thank you: https://bitcointalk.org/index.php?topic=5168193.0

I have added you to the list of users scammed by Adab Solutions in the updated OP. The more victims that are identified and added to the list the more it will reflect badly on the Adab Solutions scammers

[indo1]

I have got 10400 adab after I complain but that still so far from 40k    after waiting so long

[JollyGood]

I have got 10400 adab after I complain but that still so far from 40k    after waiting so long

Read this: https://bitcointalk.org/index.php?topic=5168193.0

[TheRealAwesome31312]

Sulaiman Al-Fahim - Advisor on Investment and Strategic Development
--If he is Muslim which sect of Islam does he follow?

Sect really doesn't matter. Your objection is that the exchange is Un-Islamic. However, here, you make it about the exchange not following your particular sect of Islam.

Gaurav Areng Chakraverti - Marketing ICO Advisor
--This man is NOT Muslim as his name clearly suggests it... According to Shariah this man is a non-believer so should he be onboard a Shariah compliant project?

Don't make foolish assumptions. Not every Muslim has an Arab name. There are people with Arab names like Usama who are not Muslim. Maybe he converted some time later during his life. Judging by your gross arrogance/ignorance about this matter, I sense that you may be a Muslim of the Arab nationalist variety, probably of the Salafist/Wahabbi school of thought. I won't make assumptions though, so that's merely a guess. You should specify which sect you are expecting the exchange to be.

Your other points are quite relevant though. There can never be such a thing as an "Islamic bank" or "Islamic exchange", because capitalism is Un-Islamic by its predatory nature.

[JollyGood]

Sulaiman Al-Fahim - Advisor on Investment and Strategic Development
--If he is Muslim which sect of Islam does he follow?

Sect really doesn't matter. Your objection is that the exchange is Un-Islamic. However, here, you make it about the exchange not following your particular sect of Islam.

Gaurav Areng Chakraverti - Marketing ICO Advisor
--This man is NOT Muslim as his name clearly suggests it... According to Shariah this man is a non-believer so should he be onboard a Shariah compliant project?

Don't make foolish assumptions. Not every Muslim has an Arab name. There are people with Arab names like Usama who are not Muslim. Maybe he converted some time later during his life. Judging by your gross arrogance/ignorance about this matter, I sense that you may be a Muslim of the Arab nationalist variety, probably of the Salafist/Wahabbi school of thought. I won't make assumptions though, so that's merely a guess. You should specify which sect you are expecting the exchange to be.

Your other points are quite relevant though. There can never be such a thing as an "Islamic bank" or "Islamic exchange", because capitalism is Un-Islamic by its predatory nature.

I made no assumptions or foolish assumptions but by virtue of you stating I did - it is you that made assumptions.

[TheRealAwesome31312]

Sulaiman Al-Fahim - Advisor on Investment and Strategic Development
--If he is Muslim which sect of Islam does he follow?

Sect really doesn't matter. Your objection is that the exchange is Un-Islamic. However, here, you make it about the exchange not following your particular sect of Islam.

Gaurav Areng Chakraverti - Marketing ICO Advisor
--This man is NOT Muslim as his name clearly suggests it... According to Shariah this man is a non-believer so should he be onboard a Shariah compliant project?

Don't make foolish assumptions. Not every Muslim has an Arab name. There are people with Arab names like Usama who are not Muslim. Maybe he converted some time later during his life. Judging by your gross arrogance/ignorance about this matter, I sense that you may be a Muslim of the Arab nationalist variety, probably of the Salafist/Wahabbi school of thought. I won't make assumptions though, so that's merely a guess. You should specify which sect you are expecting the exchange to be.

Your other points are quite relevant though. There can never be such a thing as an "Islamic bank" or "Islamic exchange", because capitalism is Un-Islamic by its predatory nature.

I made no assumptions or foolish assumptions but by virtue of you stating I did - it is you that made assumptions.

"This man is NOT Muslim as his name clearly suggests it"

This is a textbook example of an assumption mate. You literally assumed this man isn't Muslim simply because of his name.  I don't know how much more I can dumb this down tbh.

[JollyGood]

Sulaiman Al-Fahim - Advisor on Investment and Strategic Development
--If he is Muslim which sect of Islam does he follow?

Sect really doesn't matter. Your objection is that the exchange is Un-Islamic. However, here, you make it about the exchange not following your particular sect of Islam.

Gaurav Areng Chakraverti - Marketing ICO Advisor
--This man is NOT Muslim as his name clearly suggests it... According to Shariah this man is a non-believer so should he be onboard a Shariah compliant project?

Don't make foolish assumptions. Not every Muslim has an Arab name. There are people with Arab names like Usama who are not Muslim. Maybe he converted some time later during his life. Judging by your gross arrogance/ignorance about this matter, I sense that you may be a Muslim of the Arab nationalist variety, probably of the Salafist/Wahabbi school of thought. I won't make assumptions though, so that's merely a guess. You should specify which sect you are expecting the exchange to be.

Your other points are quite relevant though. There can never be such a thing as an "Islamic bank" or "Islamic exchange", because capitalism is Un-Islamic by its predatory nature.

I made no assumptions or foolish assumptions but by virtue of you stating I did - it is you that made assumptions.

"This man is NOT Muslim as his name clearly suggests it"

This is a textbook example of an assumption mate. You literally assumed this man isn't Muslim simply because of his name.  I don't know how much more I can dumb this down tbh.

Well each to their own. You continue to hold your views and I continue to hold mine.

Regarding the scam exchange called Adab Solutions, feel free to contribute any comments about them scamming bounty participants and about their structure.

[JollyGood]

Does anybody have any update regarding the Adab Solutions scammers either from any press release or from their scam Telegram?

[JollyGood]

Good job JollyGood, your hunch has been correct so far.

Of course we still have to wait 33 more days to see if they actually deliver an exchange or not... My bet is its going to be a lot longer of a wait than that, if they ever do release an exchange.

The whole thing reeks of immoral ineptitude.

Yes "The whole thing reeks of immoral ineptitude" especially when you add to the mix that a bunch of imbeciles with a shady past decide to launch a "religious" project despite being non-religious themselves.

Well 30th August 2019 has come and gone but there is NO exchange. They are still pushing their MVP: https://mvp.adabsolutions.com/exchange

They made no announcement on their website or press releases about the reasons for delay. As of today they are 20 days over time and still have NO exchange 

[robelneo]

Good job JollyGood, your hunch has been correct so far.

Of course we still have to wait 33 more days to see if they actually deliver an exchange or not... My bet is its going to be a lot longer of a wait than that, if they ever do release an exchange.

The whole thing reeks of immoral ineptitude.

Yes "The whole thing reeks of immoral ineptitude" especially when you add to the mix that a bunch of imbeciles with a shady past decide to launch a "religious" project despite being non-religious themselves.

Well 30th August 2019 has come and gone but there is NO exchange. They are still pushing their MVP: https://mvp.adabsolutions.com/exchange

They made no announcement on their website or press releases about the reasons for delay. As of today they are 20 days over time and still have NO exchange  

Would like to give you an update since it's been 11 days and people here on Bitcointalk should also get an update because they are banning people who ask and very persistent in their questions, there is still no Fice market to talk about, it's still in the testing stage.

The testing stage should be after they get funded and they have been funded months ago, and I read from one conversation that some developers and administrators are on a business trip, I don't think it's a business trip it's more of a pleasure trip, but surprisingly some investors are holding on to their promises.

[JollyGood]

Would like to give you an update since it's been 11 days and people here on Bitcointalk should also get an update because they are banning people who ask and very persistent in their questions, there is still no Fice market to talk about, it's still in the testing stage.

The testing stage should be after they get funded and they have been funded months ago, and I read from one conversation that some developers and administrators are on a business trip, I don't think it's a business trip it's more of a pleasure trip, but surprisingly some investors are holding on to their promises.

Yes they wrote on their Telegram that their team leaders had gone on a business trip, all that while they are behind schedule of their launch.

Even if the exchange is launched there is nothing religious about it, it is just a vehicle for the scammers to get rich.

In the end, it is a peatio based exchange which they hired a freelancer to code for them and nothing else.

[robelneo]

There's a massive pump of Adab in Bitforex right now https://www.bitforex.com/en/spot/adab_eth, time to dump your coin here could be a manipulation of the market or wash trading coming from Bitforex, but the so called Fice is not yet launching and I don't know when they will launch or they will not.

[JollyGood]

There's a massive pump of Adab in Bitforex right now https://www.bitforex.com/en/spot/adab_eth, time to dump your coin here could be a manipulation of the market or wash trading coming from Bitforex, but the so called Fice is not yet launching and I don't know when they will launch or they will not.

https://www.bitforex.com/en/spot/adab_btc

They are scammers. There is no exchange, no product. Even if the launch their very delayed exchange the fact is it is not a religious exchange because the owners are not religious and anybody earning income from illicit, illegal and immoral sources is free (without investigation) to send their crypto to Adab Solutions after the exchange opens just as they did when participating in the ICO.

[robelneo]

There's a massive pump of Adab in Bitforex right now https://www.bitforex.com/en/spot/adab_eth, time to dump your coin here could be a manipulation of the market or wash trading coming from Bitforex, but the so called Fice is not yet launching and I don't know when they will launch or they will not.

https://www.bitforex.com/en/spot/adab_btc

They are scammers. There is no exchange, no product. Even if the launch their very delayed exchange the fact is it is not a religious exchange because the owners are not religious and anybody earning income from illicit, illegal and immoral sources is free (without investigation) to send their crypto to Adab Solutions after the exchange opens just as they did when participating in the ICO.

I'm just surprised at the price I wonder will the coin command a good price if they finally release their platform FICE,  we cannot control the enthusiasm of investors here, they are on a buying spree even before they launch their platform, this is a risky behavior, even if the developers of Adab guaranty the release of the FICE platform, they should at least wait than buy the news.

[JollyGood]

https://www.bitforex.com/en/spot/adab_btc

Since my last post around 24 hours ago the fact of the matter is some scammers pumping were selling/buying at 0.00000399 BTC but are now at 0.00000135 BTC

Typical pathetic scammers pumping and dumping even though they have no product, no exchange and no reputation.

[robelneo]

https://www.bitforex.com/en/spot/adab_btc

Since my last post around 24 hours ago the fact of the matter is some scammers pumping were selling/buying at 0.00000399 BTC but are now at 0.00000135 BTC

Typical pathetic scammers pumping and dumping even though they have no product, no exchange and no reputation.

There's a possibility that there's not going to have an exchange at all they are still in the process of applying for a license and this can take longer, they should have done so even when they are in the crowdfunding stage, this is the announcement coming from their manager in their telegram channel, so what if their application is reject?

Brother, regulation in each emirate might totaly differ from one another, the company is registered in Ras Al Khaimah. Now we are applying for exchange license in Bahrain.

[JollyGood]

There's a possibility that there's not going to have an exchange at all they are still in the process of applying for a license and this can take longer, they should have done so even when they are in the crowdfunding stage, this is the announcement coming from their manager in their telegram channel, so what if their application is reject?

Brother, regulation in each emirate might totaly differ from one another, the company is registered in Ras Al Khaimah. Now we are applying for exchange license in Bahrain.

What is there to say apart from it being an absolute farce.

Think about it, a Princess of Ras Al Khaimah (Sheikha Fatima Ras al Khaimah) has been plastered all over their promotion work yet they did not get a licence from the emirate of the same princess they have added as a co-founder. The whole thing is as pathetic as their claim to be a "Shariah compliant" exchange. How can a crypto exchange be religious when the people that set it up are not religious themselves and they are happy to accept funding from any illegal and illicit source including those earning from drugs/narcotics and from pimps, prostitutes and anything else.

Can you spot the mistake they made when they added her details in the whitepaper? Very unprofessional, pathetic: https://adabsolutions.com/docs/wp/en_wp.pdf

Their whitepaper and website have seen many transitions when it comes to adding the "team" details. Sulaiman Al-Fahim has gone from being listed as an Advisor to co-Founder. And long after the 9 month long ICO started Sheikha Fatima Ras al Khaimah was added to the team list too.

[robelneo]

I'm still in their telegram channel maybe they will ban me in the future, still checking the development on https://ficemarket.com/ Adab is worth $0.11 but on exchanges where it is traded it's below 1 cent, they pegged the price at $0.11 in their own exchange,  I've tried to login in their exchange, I have signed up some three months ago, but it's not sending me a link to change password and if you sign up, there is no verification coming.

Their developer and support are lagging in addressing problems with their exchange, there's a lot of risk depositing here, if you are a trader, be careful depositing here, it's not yet well coded.

[JollyGood]

I'm still in their telegram channel maybe they will ban me in the future, still checking the development on https://ficemarket.com/ Adab is worth $0.11 but on exchanges where it is traded it's below 1 cent, they pegged the price at $0.11 in their own exchange,  I've tried to login in their exchange, I have signed up some three months ago, but it's not sending me a link to change password and if you sign up, there is no verification coming.

Their developer and support are lagging in addressing problems with their exchange, there's a lot of risk depositing here, if you are a trader, be careful depositing here, it's not yet well coded.

Thank you for the post and information.

One of the problems is that they pushing a narrative that they will get a trading licence from Bahrain but how is that possible when an alleged Princess from the UAE who is listed as a co-founder (somewhat late) has not been able to give them a trading licence in her own country? They are pushing this story because they want to suppress the obvious resentment that will come their way when token holders eventually give up and fight back.

They will drag this nonsense out for as long as they can before they announce they will close the exchange project because of lack of licence and big legal issues. They will promise to return funds but will run-off and pocket a few million for themselves.

[smyslov]

Looks like a lost cause to me, Fice if I am right means First Islamic Crypto Exchange, they should have no problem establishing one if they adhere to the teaching of Islam, our Muslim brothers can easily set up one because they have the funds and they are guided by good teaching I don't think it deserves the name First Islamic Crypto Exchange run by the developer of this project.

But honestly they need one, here in our country we have one and we are a third world country, if another Muslim developers who adhere to Islam teaching can set up one it should be bonded by Islamic teaching.

I am not a Muslim but I have a high respect to Muslim for what they are bringing to the Cryptocurrency community.