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Author Topic: Datbit - SCAM ICO - stealing people's identity  (Read 107 times)
ICOEthics
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October 11, 2018, 08:34:12 PM
Last edit: October 14, 2018, 12:20:44 PM by ICOEthics
 #1

What happened: SCAM ICO - FAKE TEAM / STEALING PEOPLE'S IDENTITY

Scammers Profile Link:
ANN – https://bitcointalk.org/index.php?topic=2637490.0
http://web.archive.org/web/20181009220644/https://bitcointalk.org/index.php?topic=2637490.0


Scammer Website: https://datbit.org/Datbit-WhitePaper.pdf
http://web.archive.org/web/20181009220328/https://datbit.org/Datbit-WhitePaper.pdf







FAKE NAME:Joe R. Harrison -Co-Founder, CEO
REAL NAME:CHRIS BROWN
https://www.rolfe-judd.co.uk/planning/people/role/professional-team/

FAKE NAME: Margaret L. Ely -Smart ContractExpert
REAL NAME: TIFFANY MALLEN
https://www.rolfe-judd.co.uk/planning/people/role/professional-team/

FAKE NAME: Larry Duclos -Co-Founder,Operations
REAL NAME: OLIVER COLEMAN
https://www.rolfe-judd.co.uk/planning/people/role/professional-team/

FAKE NAME: Jhon Steaves -Blockchain Engineer
REAL NAME: CASEY CONDUCT
https://www.rolfe-judd.co.uk/planning/people/role/professional-team/


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September 20, 2019, 08:43:50 AM
 #2

First apologies for replying on a thread that is made almost 1 year ago, but i think that it is important. I was in the middle of scam thread creation when i saw this thread, so might as well share it here.

So, despite Datbit being obvious scam, that didn't stop exchanges from listing it. Among those were BiteBTC, P2PB2B ( they delisted them recently)and TOPBTC. And this last one mentioned, TOPBTC is the only one where Datbit still has volume.
As seen in the ss, DBT/ETH pair has  decent volume, most likely  with some shady practice.






On top of that, there was even a trading competition on TOPBTC, additionally promoting this SCAM and making more people fall for this.


That just shows that we  can't trust exchanges at all. As seen from this example they are not capable ( most likely not willing) to do basic background check before listing and are basically ready  to list just about any ICO that is willing to pay listing fee.

Do your due diligence before buying tokens, trust no one!

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September 20, 2019, 10:41:25 AM
 #3

So, despite Datbit being obvious scam, that didn't stop exchanges from listing it. Among those were BiteBTC, P2PB2B ( they delisted them recently)and TOPBTC. And this last one mentioned, TOPBTC is the only one where Datbit still has volume.
Listing on exchange doesn't proved that project is legit. Listing in exchange just another way to scam investors. Exchange demand huge amount for listing nowadays, that's why they never bother to diligence of projects background fairly. But not all exchanges are same, there is some well reputed exchange as well.

Show high volume isn't really very difficult, who know perhaps scammer team trading by themselves in order to attract more traders. And when more traders will in, team could sell their remaining tokens through exchange. That's the way how scamming peoples even after listing on exchange. We can say that was fake volume created by project team. Although all photos are fake, but someone behind of that project. They are doing that shady behaviour.

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September 20, 2019, 11:10:36 AM
 #4

So, despite Datbit being obvious scam, that didn't stop exchanges from listing it. Among those were BiteBTC, P2PB2B ( they delisted them recently)and TOPBTC. And this last one mentioned, TOPBTC is the only one where Datbit still has volume.
Listing on exchange doesn't proved that project is legit. Listing in exchange just another way to scam investors. Exchange demand huge amount for listing nowadays, that's why they never bother to diligence of projects background fairly. But not all exchanges are same, there is some well reputed exchange as well.

Show high volume isn't really very difficult, who know perhaps scammer team trading by themselves in order to attract more traders. And when more traders will in, team could sell their remaining tokens through exchange. That's the way how scamming peoples even after listing on exchange. We can say that was fake volume created by project team. Although all photos are fake, but someone behind of that project. They are doing that shady behaviour.

Yeah, they are often into this  together, both the exchanges and the  ICOs. It would take max 5 minutes to check projects like Datbit to be obvious that something fishy tthere, you don't even have to be expert.

But unfortunately a lot of traders never check anything about tokens/coins they are buying,they believe exchanges. Especially big ones like Binance.
All they are interested in volume, and gain. Some of them will even make some profit, but most of them will loose everything when team decides to dump all tokens.

That's why i mentioned importance of due diligence.

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PLINKO    |7| SLOTS     (+) ROULETTE    ▼ BIT SPINBITVESTPLAY or INVEST ║ ✔ Rainbot  ✔ Happy Hours  ✔ Faucet
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JeromeTash
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September 20, 2019, 11:50:13 AM
 #5

snip
I had never heart of TOPBTC exchange until today... shit exchange perhaps.

Even the other exchanges the token had been listed on (p2pb2b and BiteBTC) all turned out to be scam exchanges as witnessed by so many scam accusations against them here.

The high daily trade volume of the token on TOPBTC is due to wash trading. No one should be fooled into buying this token or holding it
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