Yobit Scam Accusation megathread. "Normal" modus operandi or shady practices?

[fratoshi]

lol yeah. wait
https://github.com/Tillkoeln/ponzi

i have a coin named ponzi released.

and  [SCITW]

Shittest Coin i the World, .

Interesting, can you tell me more about your work at Cryptopia?

[1715296250]

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[1715296250]

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[1715296250]

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[1715296250]

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[TillKoeln]

hey fratoshi
i think thats going offtopic now ;-)
if you have any questions to me
feel free to ask them on discord or pm or twitter.
cheers


and yeah, i think on cryptopia was [1337] listed ,   which was published by me

[fratoshi]

hey fratoshi
i think thats going offtopic now ;-)
if you have any questions to me
feel free to ask them on discord or pm or twitter.
cheers


and yeah, i think on cryptopia was [1337] listed ,   which was published by me

Interesting, so where can i find a list of all the coins you have worked?

[akamit]

Interesting, so where can i find a list of all the coins you have worked?

Are you investigating something? LOL!

He will not post the list here probably, maybe he has a lot of shitcoins which he has created before 2017 when cryptonians were noobs, who invested in every coin listed in an exchange. Anyways, ask him in private... 

So far we knew 4 of his coins, PONZI, PONZ2, 1337 and SCITW and wondering how many more are there and how much money he made with these shitcoins.

[fratoshi]

Interesting, so where can i find a list of all the coins you have worked?

Are you investigating something? LOL!

He will not post the list here probably, maybe he has a lot of shitcoins which he has created before 2017 when cryptonians were noobs, who invested in every coin listed in an exchange. Anyways, ask him in private... 

So far we knew 4 of his coins, PONZI, PONZ2, 1337 and SCITW and wondering how many more are there and how much money he made with these shitcoins.

Actually yes,

I found Mr TillKoeln very suspicious,

Looks like he worked for Yobit in 2014
Then worked for Cryptopia in 2015 - 16
Then worked for other exchanges 2017 - 18
And is running his own assethylene exchange in 2019

[TillKoeln]

its going a bit offtopic here  

what do you understand as " worked for" ?

[JollyGood]

Let's have a healthy discussion as to why Yobit is/might be a shady exchange, and whether or not the promoters of said service should face any repercussions for the damages they do against customers who are unknown to Yobit's business practices. (Which is to squeeze as much money out of every customer possible.). Or if this is completely healthy, and everyone just has to do their own due diligence before using them.
~snip~

Since there is more recent activity in the Reputation board I thought is was important to thank AdolfinWolf for the thread and to link the new threads here too:

https://bitcointalk.org/index.php?topic=5212036.msg53424339#msg53424339
https://bitcointalk.org/index.php?topic=5211944.0

[Informcoin Dev]

Yobit is scam exchange.
They always use different theory to scam people by ico ieo freecoins airdrop etc.
First they let you earn small and as soon as you deposit big and they scam you without you realize.
When you realize you scammed then it's too late.
I advice do not let them steal your hard earned money.
If you have funds with yobit withdraw as soon as possible this exchange may go away anytime and they do not publish admin information not even whitepaper.
Do not leave your funds at yobit or else you will loose all sooner or later and you can do nothing after that.
They stole my 2.1BTC and I could do nothing.

[JollyGood]

I am sorry to read about you losing out on 2.1 BTC but could you please elaborate on what you posted: "They stole my 2.1BTC and I could do nothing"

How exactly did they steal it? Did they selective scam you via the age-old KYC or suspicious flag excuse or are you just referring to their investbox ponzi scam?

Yobit is scam exchange.
They always use different theory to scam people by ico ieo freecoins airdrop etc.
First they let you earn small and as soon as you deposit big and they scam you without you realize.
When you realize you scammed then it's too late.
I advice do not let them steal your hard earned money.
If you have funds with yobit withdraw as soon as possible this exchange may go away anytime and they do not publish admin information not even whitepaper.
Do not leave your funds at yobit or else you will loose all sooner or later and you can do nothing after that.
They stole my 2.1BTC and I could do nothing.

[akamit]

This is just to update this thread with the most recent wrongdoing of Yobit.

Yobit had an airdrop of YoDollars (YODA) in December if I'm not wrong and listed the coin in their exchange this month.
But when users went to the TG bot to withdraw YODA they complained that the balance was zero. 700 Yoda was worth BTC 0.028 or more at some point after exchange listing.

[jeffreymiles]

Watch out for Yobit! They scammed me big time, I lost 2,3 K

I made a ETH deposit on Yobit and then I never got the deposit but they kept my ETH

All they said was "Yobit did not support contract deposit" and we can't help you

[TryNinja]

All they said was "Yobit did not support contract deposit" and we can't help you

I really hate defending Yobit, but they literally warn you about this when you click to deposit ETH.

In red:

Warning! You can not make a deposit via contracts!

[jeffreymiles]

All they said was "Yobit did not support contract deposit" and we can't help you

I really hate defending Yobit, but they literally warn you about this when you click to deposit ETH.

In red:

Warning! You can not make a deposit via contracts!

I was new to crypto , I didnt knew. But still I consider it scam. Cause why is it possible to do this action? 
Its a loophole. Cause they can give the money back if they want, cause it has been transfered to them.

[TryNinja]

I was new to crypto , I didnt knew. But still I consider it scam. Cause why is it possible to do this action?  

Being new in crypto or a new tech doesn't mean you shouldn't read the big warnings, asking or googling before doing something (especially risking money). If you didn't knew you were sending from a contract, then ok, maybe it wasn't that easy for you to know. But if you knew, you should have read the warning. In all cases, learn from your mistake and be more careful next time.

Its a loophole. Cause they can give the money back if they want, cause it has been transfered to them.

We can't know how their infrastructure is done. What if they have no easy access to the wallets as a security measure? I know that some exchanges require some specific people on their dev teams to manually go through a wallet and recover the funds, which requires time. And because of this, many charge a big fee and only recover amounts higher than X if you do a mistake like this. Maybe this is Yobit's case, or maybe they simply don't care and are a scam (they are very close to scam in my definition). Anyways, they are not the only ones that do this (not support this kind of ETH deposits). Some exchanges recover them easily, while others don't. I'm just being devil's advocate here.

[20kevin20]

I have been part of the YoBit signature campaign for about two days until Yahoo banned me from it for burstposting. That was a very good wake-up call and I thank him for it because that's when I also found the scam accusations against this exchange.

I've tried using YoBit for a while just for testing purposes. Keep in mind that I've made transactions worth a ton of money through different other exchanges a few years ago and I still know the mechanism of an exchange pretty well. If you're interested to hear my story, keep reading.


I participated in the non-existent YoDollars launch. This was a shady game from the start all the way 'till the end and I tried taking all their advertisement game down to 0 as much as possible.

In order to get the 700 YODA (and IIRC, they had a promotion for something like 400YODA/referral but I preferred not advertising this shithole to anyone), you had to do a lot of work. Mostly tweeting the shit out of the YODA scam so they could maximize the advertisement. Smart game, but I was able to fool it my own ways.

After a delayed launch of their YODA shithole, I have finally been able to receive my 700 YODA. But guess what: I did not receive it in my YoBit wallet. They put it in my InvestBox and I could only withdraw 1% of it per day, so I have actually only received 7 YODA a day instead of 700 at once. Anyways, I said that's fine - I can wait.. Next day, I wanted to withdraw 2 days at once (the first and the second), which accounted for somewhere around 14 YODA. As soon as I tried to withdraw, only 7 YODA were sent to my wallet because I had just found out (all by myself, no warnings anywhere) that if you do not withdraw once, your money will be non-withdrawable. Now I had 7 YODA sent to my wallet and 707 YODA sitting in my InvestBox. I said it's fine and I kept going..

Third day comes and I still have 707 YODA in my InvestBox. I had no more to withdraw and I was wondering what the hell is going on. I then found out I had to actually post an advertisement tweet in order to receive my shitty 7 YODA. Now I had to wait about 23h in order to receive my next 1%..

The following day, I still had 707 YODA in my account. I opened up a support ticket and asked them for my 7 YODA back because I had done exactly what I needed to receive it. The 7 YODA were then worth somewhere around 0.0003BTC so I asked them for that much BTC in case they solve the issue later when YODA is worth a satoshi. I still haven't received a reply to my ticket until today. After a quick look over my history of tickets, I found out I still have one open since 2019 which also has never been replied to.

In the following days I found a way to fool their tweet mechanism so that I would not advertise their shitcoin anymore but still receive my 1%. All went well except the fact that the coin kept losing value every single day. Weeks later, they changed the game: you had to play 10 Bitcoin Dice rolls EVERY DAY in order to receive your 7%. Because their minimum roll is 1k satoshis (or was it 10k?), considering today's YODA value of 150 sats, you will have to risk 0.0001BTC (0.001 if 10k was the minimum roll) EVERY DAY for something worth 0.0000105BTC. Where the fuck is the logic?


I would not recommend anyone this "exchange". It's not even an exchange, it's more of a give-us-your-money and advertise-us-for-free website. The ONLY thing I can positively say about them is that the withdrawals work but the fees are fucking high.

You'll be better off not using any exchange at all than going for YoBit.

[malevolent]

I was new to crypto , I didnt knew. But still I consider it scam. Cause why is it possible to do this action? 
Its a loophole. Cause they can give the money back if they want, cause it has been transfered to them.

Most exchanges will eventually give it back, quite a few will charge hefty fee for their inconvenience but you should still get (most of) the frozen money back. You can pester them everywhere but don't get your hopes up, it's not a trustworthy exchange.

[IconFirm]

Most exchanges will eventually give it back, ....

Not this one.

[jeffreymiles]

I was new to crypto , I didnt knew. But still I consider it scam. Cause why is it possible to do this action?  
Its a loophole. Cause they can give the money back if they want, cause it has been transfered to them.

Most exchanges will eventually give it back, quite a few will charge hefty fee for their inconvenience but you should still get (most of) the frozen money back. You can pester them everywhere but don't get your hopes up, it's not a trustworthy exchange.

Thanks for all the response. What can you do to get it back? They don't answer tickets. I am in their Telegram chat. And all these modds say is
"didnt you see warning" can't help you, own fault"

Also there is a whole "scammed by Yobit" Telegram group, with people that got scammed, with each their own stories. That says enough.

[malevolent]

Thanks for all the response. What can you do to get it back? They don't answer tickets. I am in their Telegram chat. And all these modds say is
"didnt you see warning" can't help you, own fault"

In your case I doubt anything feasible can be done, all you can do is keep contacting them on all channels, either they block you or you get your money back but I'm leaning towards the former. They're bigger scammers than I thought after reading 20kevin20' post above.

[suchmoon]

I know nothing should surprise me anymore about Yobit but still...

https://yobit.net/en/fork2/timer/

Your balance of Fork Token = btc*10000 + USDT
99% of tokens will be moved to InvestBox

So if I'm reading this right they're creating a Bitcoin "fork" (without a blockchain) and giving people 72 hours to deposit more bitcoins so they could get 10000x scammy tokens.

Sadly we don't have Yobit signature spammers around anymore so I'm guessing we won't get anyone to entertain us with an explanation how this is not a scam.