Scam oyster PRL

[o_e_l_e_o]

They were revealed to be a complete scam months ago when they dumped on the market: https://bitcointalk.org/index.php?topic=3243495.0

Why would anyone still be invested in this obvious scam? You either haven't been paying attention to the news about what your are holding, which is stupid, or you did pay attention and you chose to ignore it, which is even more stupid. If you can't keep track of what's happening with the all the coins you own, then you own too many coins. If you ignore all negative news as "FUD" then you are overly emotional with your coins and you probably shouldn't be in crypto at all. You need to be able to weigh up all the information and news, good or bad, and make an informed decision. They scammed before, so why wouldn't they scam again? You either didn't know or didn't care. Either way, that's the wrong mindset to be in crypto.

Worth pointing out that Substratum has the same vulnerability in its smart contract. They can create a ton more SUB out of thin air any time they want and dump it on the market. They also still have access to supposedly "burned" coins - they never burned them at all, just transferred them to another wallet which they promise they won't use: https://etherscan.io/address/0xd41d37f9865cc121f71957e6eafb09cbdc98d6c3#tokentxns

[kolonel_x]

I saw yesterday that PRL was deleted on the idex market, maybe everything will be fine. Let's just wait how later the dev performance if PRL is really just a smart contract is corrupted.I hope everything is fine

[abstractednerve]

Are you sure about it? Because Oyster PRL seemed a good project with higher ambition. If it really scams then investors should take action against the admin and CEO of Oyster. I am not sure but maybe I saw their office address on their website!

[Juxy]

Completely baffles me how they could have overlooked that mint function despite having their smart contract audited thrice. Either the companies that audited the contract are grossly incompetent or there's a collusion somewhere.
Don't know which is more terrifying.

Stealing this from here. But...

From their official response here : https://medium.com/oysterprotocol/oyster-update-b813390ce10e

Or more so this quote :

Despite Oyster passing three separate smart contract audits, we were told by Bruno Block, the original founder and chief architect of the project, that the directorship of the token contract had to remain open so that the peg could be adjusted over time.

It's clear they actually knew that the minting function existed, but were told by "Bruno" that it was necessary to keep it there. So essentially three times, they were probably told that this minting function was dangerous but were told by the architect to keep it (Who then stole 300k USD worth of tokens).

[luongdk]

Thanks god I didn't buy prl token last week... I saw problems with PRL on idex, they announced to delist PRL or stop trading for a while, but I didn't know real reason for it.
Now it is clear for me.

[Bowtiesarecool]

Completely baffles me how they could have overlooked that mint function despite having their smart contract audited thrice. Either the companies that audited the contract are grossly incompetent or there's a collusion somewhere.
Don't know which is more terrifying.

Stealing this from here. But...

From their official response here : https://medium.com/oysterprotocol/oyster-update-b813390ce10e

Or more so this quote :

Despite Oyster passing three separate smart contract audits, we were told by Bruno Block, the original founder and chief architect of the project, that the directorship of the token contract had to remain open so that the peg could be adjusted over time.

It's clear they actually knew that the minting function existed, but were told by "Bruno" that it was necessary to keep it there. So essentially three times, they were probably told that this minting function was dangerous but were told by the architect to keep it (Who then stole 300k USD worth of tokens).

Working all these months with an anonymous founder is bad enough. However, it still doesn't explain the motives behind someone wanting to sabotage their own project when the evidence can easily be traced back to them.

[TheReverend]

is there any evidence, if it's not there and you just say it unilaterally then that hasn't been proven.
in my opinion if indeed that happens then it is very unfortunate because the PRL coin has been released long enough and cooperated with one of the big coins.

[CryptoAssasin]

The price was pumped in the last month of 400% .... to sell the 3 million token at a good price ... Bruno can not have done everything by himself ..... it's a scam organized by more ' people


In my opinion the whole team is involved ..... but they put the blame on the anonymous Bruno

I am really surprise on the pump of PRL at coinmarketcap when it reaches +1,609.62% as I type in this message. I immediately check those links at coinmarketcap and confirmed the issue. Coinsuper also decided to immediately suspend deposits, withdrawals and trading for PRL to minimize the scam. I agree with your statement, the whole team is involved to this or maybe only part of them and using "Bruno" to hide their shady business. This altcoin is doom and will surely be dumped hard by their investors and holders. Trust is cryptocurrency is the real deal and this type of drama is nothing new when scamming their investors.

[Bowtiesarecool]

The price was pumped in the last month of 400% .... to sell the 3 million token at a good price ... Bruno can not have done everything by himself ..... it's a scam organized by more ' people


In my opinion the whole team is involved ..... but they put the blame on the anonymous Bruno

I am really surprise on the pump of PRL at coinmarketcap when it reaches +1,609.62% as I type in this message. I immediately check those links at coinmarketcap and confirmed the issue. Coinsuper also decided to immediately suspend deposits, withdrawals and trading for PRL to minimize the scam. I agree with your statement, the whole team is involved to this or maybe only part of them and using "Bruno" to hide their shady business. This altcoin is doom and will surely be dumped hard by their investors and holders. Trust is cryptocurrency is the real deal and this type of drama is nothing new when scamming their investors.

Heard the team token unlock was just round the corner. It's quite possible that Bruno could have acted alone by psyching the team into organizing a few pump operations ahead of the unlocks for them to sell at good rates. Leveraging other people's greed to your own cause is the oldest con in the book

[AlyattesLydia]

I think someone from the team made changes to the smart contract. And thousands of millions of unrequited tokens. These things can happen to every project. If one of the team becomes a fraud, the whole project is affected. It can enter non-return roads. The most important thing in the project for this is team team team...

Another scam case. Moreover, PRL had invested greatly. This kind of nonsense is pushing people away from this technology. Working with independent supervisory firms has become imperative.

[o_e_l_e_o]

I am really surprise on the pump of PRL at coinmarketcap when it reaches +1,609.62% as I type in this message. I immediately check those links at coinmarketcap and confirmed the issue.

There is no pump. The remaining team members behind Oyster Pearl are planning to do a 1:1 token swap to a new token to mitigate the damage done by the malicious smart contract and dumping of $300,000 on the market. The original token has been delisted from every exchange pending this swap happening in the next few days. There is zero volume, and so the price you are seeing on coinmarketcap is completely artificial.

This seems like a good opportunity to remind everyone that Substratum (SUB) can perform the same scam any time they like: https://bitcointalk.org/index.php?topic=5060609

[ukloon]

Whether it was an elaborate scam or an vulnerability this project is seriously crap. Great for any early investors who got in early and dumped on a high but with the recent news this should be avoided. Pick another investment, a safer one in the top 30 of CMC

[Q2kc]

Yet another scam of the world crypto oyster is a scam ... the dev sold for $ 300,000 of Prl and ran away with the money ...

It's Sad for oyster Prl community that this thing happened, the Annonymous who take the money is the reason behind this, lesson learned don't trust an anonymous guy on cryptocurrency because there is a chance that someday they will run for the money

[morgan4140]

Yes, after such an incident, it's hard not to call such a project as PRL SCAM. There is no forgiveness for this team, because thousands of people invested in the project and lost money. They must be held criminally liable and reimburse all those who have suffered.

[Bowtiesarecool]

Yes, after such an incident, it's hard not to call such a project as PRL SCAM. There is no forgiveness for this team, because thousands of people invested in the project and lost money. They must be held criminally liable and reimburse all those who have suffered.

At this point in time, the question is no longer about forgiveness, but the incompetence of any member of their team to demonstrate any knowledge of just how damaging this vulnerability is, considering the fact that they were working with a faceless CEO.
It also shows that smart contract and disintermediation is just hype because someone will always own the key to unlock it all. The blockchain is just as centralized as the centralization we like throwing stones at

[Kang TB]

Yet another scam of the world crypto oyster is a scam ... the dev sold for $ 300,000 of Prl and ran away with the money ...

It's Sad for oyster Prl community that this thing happened, the Annonymous who take the money is the reason behind this, lesson learned don't trust an anonymous guy on cryptocurrency because there is a chance that someday they will run for the money

so, this is why PRL price was down harder,,

full explanations about this conditions of PRL now is on this article
https://medium.com/@bill_26126/oyster-update-b813390ce10e

and this is anothers bad news in crypto industry,
because, as i know so many people believe and interested with PRL,, but what happend with PRL now,,

[Bowtiesarecool]

Yet another scam of the world crypto oyster is a scam ... the dev sold for $ 300,000 of Prl and ran away with the money ...

It's Sad for oyster Prl community that this thing happened, the Annonymous who take the money is the reason behind this, lesson learned don't trust an anonymous guy on cryptocurrency because there is a chance that someday they will run for the money

so, this is why PRL price was down harder,,

full explanations about this conditions of PRL now is on this article
https://medium.com/@bill_26126/oyster-update-b813390ce10e

and this is anothers bad news in crypto industry,
because, as i know so many people believe and interested with PRL,, but what happend with PRL now,,

Token swap, but that doesn't answer the question of what's going to happen to its potentials, ecosystem, and trust issues especially in light of less vulnerable competitors out there. Short of them announcing a partnership with Amazon, can't see them dispelling this within a year

[ashmodeus]

Token swap, but that doesn't answer the question of what's going to happen to its potentials, ecosystem, and trust issues especially in light of less vulnerable competitors out there. Short of them announcing a partnership with Amazon, can't see them dispelling this within a year

well
just how ?
i mean , since this cases,
how amazon will accept it
what amazon expecting from PRL like now,

[jagdeepjd]

Yet another scam of the world crypto oyster is a scam ... the dev sold for $ 300,000 of Prl and ran away with the money ...

I hope its not a scam project as its valuation is around $43mln at the moment and if the thing you said is true and the developers are looking to abandon the project then it's going to hurt a lot of people.

I followed their social media accounts and even on the coinmarketcap it is mentioned that it was an exploitation of code so I hope it just stays like that and team does everything to cover that up.

[mdzahed134]

Yet another scam of the world crypto oyster is a scam ... the dev sold for $ 300,000 of Prl and ran away with the money ...

Oyster (PRL) is exist scam it's already clear if you research some point details in this article https://cryptoticker.io/oyster-pearl-founder-exit-scam/

PRL CEO printing million of coins and instantly selling in big exchange OMG!  

And this is the transaction:
https://etherscan.io/tx/0x2321e305c20f45429f11045b9235e9bbd66b17bacede173ca86144ac5533d3bf

Edit: Important Update
https://medium.com/@bill_26126/oyster-update-b813390ce10e