YoBit's Fake volume on shitcoins, among others

[JaredKaragen]

Ok;

I'm gonna be straight.  Yobit is massively faking volume.

I would like the person who got screwed and purchased from them the 7+BTC back then to chime in on this thread, as well as Mick if he ever graces this site with an update because he has always been erratic in his replies and updates to this site.

Currently (right now) there are 3,873,355 coins total in the BUB coin network at the time of writing this sentence.

on 5/25/2019  A poor soul attempted to buy out whatever was available for sale on yobit in this coin (7.323 BTC was exchanged).  The total volume on that day was: ~10,550,424 coins.  
On that same day;  YoBit's BUB wallet suddenly goes offline....

Many of us have complained, and my support tickets have gone unanswered. (I can assume the others as well can say the same, for the few of us that bag these coins)  (I only started with 20K and have staked myself up to over 100K due to never ever letting my wallet going offline).

This is on a coin that has tanked in the last few years, it went from bouncing between ~100k and 10K satoshi often: to being worth 100 satoshi or less where I bought up my bag of 20K as the price dipped under 100 satoshi each time.   I profited on these large fluctuations a lot when it was happening back in the higher priced days... so to me, it was worth the reinvestment, as its no net loss to myself.

The largest wallet that belongs to YoBit is probably: NUTLRobEVnbY1rNq7WVcC8BGrWjnaDG4zG Rough balance: 1,229,110
Mick Ghee's wallet is most likely: NQUgLXfxua2XaiyyJEF3Ah7SR9fmb9My9Q rough balance: 820,738 (he is the BUB/Siraj project owner; now running under the name YouCrazy.me doing real-time animation to voice overlays)
I would have better active network balances, but the cryptobe richlist has been broken ever since yobit's wallet went "offline"....  yet the block explorer itself, still returns the active blocks..... hmmmmm...   coincidence? Cryptobe Block Explorer

FYI If I am wrong;  you can most likely reverse the owners of those two addresses....  Because I am not 100% certain those are the correct owner placements but am 99% sure as I don't presently have access to my original wallet that I received the funds in from yobit back when the wallet was online.


Tell me this information alone does not raise massive suspicion......

Does anyone know the owners of cryptobe?   I heavily suspect they are directly tied to yobit.   Same shit coins are searchable there, that are not on all the other explorers.    They did give up on maintaining that site over a year ago FYI.

Now this all goes in line with Yobit keeping on an XVS/VSX (VSync), NKA, etc fork and royally screwing people who do not know to check for identical block height numbers before investing/depositing/withdrawing;  
Or with Yobit artificially inflating BTC withdraw prices/fees to "speed up the blockchain" while pocketing ALL of it and paying below the minimum for massive TX's during that time.    When I called them out on it they referenced the fact that they alerted us in the increase of fees;  and my response to them was a screenshot of their tweet saying to increase the speed, along with the screenshot of the TX of them sending me and 40 others BTC, with a .00065 fee attached to that massive TX.....    They ignored my response to them (never responded to me) and decreased their withdraw fee to ~.0012  instead of .0025 where it was.

I have some reservations about saying a few other things, because so far, they are coincidence and unsubstantiated;  but the timing seems to line up with what might be;  so ill keep a tight lip as to really be able to nail someones feet to the floor before ousting them to the public if my senses are indeed correct and let the community lay the coals and kindling.

[Indamuck]

zzzzz.. Nothing new, every big exchange has been faking volume and now they all like to create their own coins for easy money.  Binance coin really has no purpose except to make the creator more money.  All these exchanges have on thing on their mind and that is money.

[JaredKaragen]

zzzzz.. Nothing new, every big exchange has been faking volume and now they all like to create their own coins for easy money.  Binance coin really has no purpose except to make the creator more money.  All these exchanges have on thing on their mind and that is money.

Well to this point;  I had seen nothing substantial on their end;  aside from before when the fake pumps were obvious being buys/sells that were below the minimum their site/API allows....  plus on those coins the total in circulation/premine was in the tens of billions or more... so its hard to prove that it was actually fake.

Being that kind of volume on Bubble in one day;  I myself knowing (through conversing shortly with one of the main buyers) that the volume is fake;  and the statistics easily show it... I can actually say for certain they are dishonest.


I did carry their sig before;  because who wouldn't want a free .0003 for every post here... I mean, back during the craze, I was posting my scripts and helping people out constantly;  $1.50+ per post is no small amount...    and even then I was a deep advocate of being careful with them and not recommending them for any reason other than the free coins they gave out now and then that actually had some value.

The moment I posted here that they gave out .01 ETC on the actual real network (withdrawable) every 24 hours;  it was easy to stack up a few ETC and even use it to sell and buy more in a few days time in order to withdraw into a personal wallet.    I think I ended up with nearly 3 ETC for free before putting a halt to it... and they disabled the freecoins hours after my public recommendation here to 'get what you can while you can'.

In the past;  most of the people screaming of scam were victims of not doing research, or worse, shady browser plugins and depositing ETH tokens, or depositing things like ETH to ETC wallets, or things like fake telegram groups and erroneous crazy 'deposit first' requests to the likeness of the cryptual scams.   I remember one guy was adimate about them being a scam because he sent 50 ETH to an ETC address....   And would not own up to his own mistake;  acknowledging that he did indeed fuck up, but they are scammers because they would not refund him his 50 ETH.


This is pretty damned close to concrete;  short of YoBit releasing a list of the buys/sells that were taking place....   They simply were just adding volume when a dying coin would show some life.     I started getting that feeling when building up my amount of ~20K coins;  because unlike most, I actually liked the idea of what Bubble was supposed to become....    Until CryptoBridge came along, and actually put it out there as a working product.  So far, BUB and it's companion siraj has been sort-of a slow wash.   Which I whole heartedly accepted the fact it could fail;  as I did not invest what I could afford to lose (I invested a small fraction of my sig payout) and doubly I did not put anything into yobit ever, except once,  back when BTC was worth <$250 I deposited .01 to buy some NKA at .00000001, and ended up selling of at .00000008. (knowing they were in an offline wallet, and it was my gamble to take)


Today, I only use GDAX; and when I need to sell anything like XMR;  I use Poloniex if there is no alternative on cryptobridge which I used for RVN sales (I like the anonymity of them purely for my long term cold storage accounts that nobody has any business knowing the contents/values of);  but I never, ever leave anything on those platforms.  I always smell movement, and transfer in;  if movement doesn't happen:  I promptly withdraw as a double TX fee is no loss in my eyes.  On coinbase, the most I will ever consider leaving in their trust is .5-1.0 BTC.   My entire portfolio with them for instance is only $560 USD right now.


Anyone else that can add to the list here of evidence of fake volumes, please do.

If anyone here has any correlations/links between Yobit and other crypto agencies/persons;  I am all ears.    I want to see some sort of repercussions for them acting in such a dishonest way.  I bet others do as well, I just hope for the proper reasons.

[JollyGood]

@JaredKaragen

Thank you for this excellent thread. It seems to have slipped under the radar but on content, substance and quality certainly deserved to be discussed much more than already has.

The relevance for me is I have started a thread here asking about Yobit forum expenditure here:

Can You Estimate How Much In Total Yobit Has Paid Out In Campaign Fees: https://bitcointalk.org/index.php?topic=5218658.0

Furthermore because so many threads in general are flooded with Yobit promotions I decided a few days ago that any thread that I create would be self-moderated and would state clearly that any post with Yobit banners would be deleted (and any other that I deemed to be flooding).

Regarding the issue of collaboration between exchanges and coins/tokens does exist. p2pb2b2 and coinsbit have promoted trash IEOs heavily because they seem to be ones behind some of the project but in the case of Yobit and cryptobe I cannot say.

What I can say in response to your question about suspicion is that wallets going offline, going in to maintenance mode are something many exchanges use as a tactic to make money for themselves while being detrimental to their own users who they are scamming and  since this thread was created the less trustworthy exchanges are probably still using those tactics.

They are posting fake volumes just as the majority of exchanges do, their own token statistics are laughable as well as their 24 hour volumes of other crypto:





Only after digging a bit deeper did I realise how big a scam Yobit actually is. Their so-called investbox scam will ensure they can make phenomenal amounts of money for themselves by continuing to scam users, it is unbelievable people are still falling for their scams.

[blurryeyed]

Everything about Yobit is fake - everything.

As for fake volume, yes, all centralized exchanges fake their volume, because they can. Why people use them at all I have no freaking idea - they're unsafe & untrustworthy, history shows us this. This is not an issue with decentralized exchanges - no BS KYC, totally safe (you hold your keys) & trustworthy - you're in charge, which is why crypto came about.

If people stopped using/promoting these scam centralized exchanges they would die, but greed blinds the sheep.

[JaredKaragen]

*snip*
Only after digging a bit deeper did I realise how big a scam Yobit actually is. Their so-called investbox scam will ensure they can make phenomenal amounts of money for themselves by continuing to scam users, it is unbelievable people are still falling for their scams.

yep;  the investbox has always wreaked of pyramid nonsense and money loss....  the hint to that was mandatory dice plays to make it seem legit somehow.

the withdraw fees have always been... alarming.

I just;  liquidated some time ago and haven't logged back in.    They blatantly know they are running off forks of major chains and stay silent or ban people whom fall for the deposit scheme.    I am waiting to hear about people whom have seen those inputs they sent to erroneously get spent on the real chain.....   That would be a nail in the coffin (but sadly no way to line up their inputs somehow with the other blockchain because how do you know which chain they are on and its record....)

They run afoul of many government funds/goods exchange regulations as well.

Notice;  even CryptoBridge shut down for a bit so they can go up in a compliant KYC manner....    this points out another yobit red flag.

[JollyGood]

the investbox has always wreaked of pyramid nonsense and money loss....  the hint to that was mandatory dice plays to make it seem legit somehow.

Would you happen to know when they created their investbox scam? How long has it been going on for?

[JaredKaragen]

the investbox has always wreaked of pyramid nonsense and money loss....  the hint to that was mandatory dice plays to make it seem legit somehow.

Would you happen to know when they created their investbox scam? How long has it been going on for?

3+ years....


I have a feeling the "freecoins" section is all the shittier coins that are left from banned accounts, dispersed among the masses.   Just a gut feeling, tis all.

[JollyGood]

the investbox has always wreaked of pyramid nonsense and money loss....  the hint to that was mandatory dice plays to make it seem legit somehow.

Would you happen to know when they created their investbox scam? How long has it been going on for?

3+ years....


I have a feeling the "freecoins" section is all the shittier coins that are left from banned accounts, dispersed among the masses.   Just a gut feeling, tis all.

If their investbox scam has been going on for a period of around 3 years then the only probable reason users have not raised scam allegations on a mass scale has to be because they were brainwashed in to thinking the investment they made suffered losses as other investments outside crypto would for example.

Yobit must have made phenomenal amounts of money out of the whole approximate 3 years of their investbox scam and made even more money from other activities. Very sad actually because most of their funds look as though they are coming from investors who become victims rather than from trading on their exchange.

[JaredKaragen]

If their investbox scam has been going on for a period of around 3 years then the only probable reason users have not raised scam allegations on a mass scale has to be because they were brainwashed in to thinking the investment they made suffered losses as other investments outside crypto would for example.

Yobit must have made phenomenal amounts of money out of the whole approximate 3 years of their investbox scam and made even more money from other activities. Very sad actually because most of their funds look as though they are coming from investors who become victims rather than from trading on their exchange.

agreed;  also to note:  any time their supply of coins washed out the price on their "house coins"....  they would "recalculate"... moving the decimal over and letting the flurry happen all over again over a new replacement investbox for the replaced/swapped house coin.    Your 500 billion coins become .00000000000000000005 of the new denomination.

Somehow;  people kept buying into it.....  I dont understand the thinking other than being blinded by greed.

[JollyGood]

~snip~
Somehow;  people kept buying into it.....  I dont understand the thinking other than being blinded by greed.

Greed probably does play a part in some cases but those that are either unaware or ignorant investors are guilty but cannot really be fully blamed. Sure they are the ones that part with their crypto/cash which in-turn allows Yobit scammers to further scam and the cycle goes on.... These gullible victims see lots of information and get sucked in to the scam. Not all are aware of this forum or places to look for discussions or learn about scams. Some are newbies too.

What surprises me after looking at what is going on is that they have carried out this scam with (what it seems) impunity and without any known form of recourse. Until at least victim decides to take some of action Yobit will continue the scam.

here is the email they send out to entrap their users:

And here is a thread I started about it: https://bitcointalk.org/index.php?topic=5217581.0