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Author Topic: Temporary Scam Accusation  (Read 27 times)
Parodium
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September 11, 2019, 09:21:53 AM
Last edit: September 11, 2019, 02:19:43 PM by Parodium
 #1

This is going to be a long-winded post, so bear with me.

Back in

We were approached by Will from VIDY and asked to handle the spreadsheets for the VIDY bounty. This essentially means that Bountycloud was responsible for accepting/rejecting members, checking the work (as per the rules) and

At the time, we were

In a private group with the project CEO, he vaguely indicates that his group had no idea what NAME was doing, and that he was somehow a scammer. Bearing in mind that this "scammer" seemingly had access to their Bitcointalk account and was able to promote me to admin status within the bounty support group. I have attached a screenshot of this below.

https://i.imgur.com/OoIbOn5.png

In the same private chat with the group, we were promised partial compensation, though he didn't appear to indicate that the bounty hunters would be rewarded for their work based on the rules of the bounty.

https://i.imgur.com/fA6TpSS.png

Below is a screenshot of the VIDY bounty group, here we can see that Will was promoted to full admin status by Luke (the group creator). Luke also invited the VIDY CEO @pcboston to the group (the same person we were talking to in private chat—yes we did check the usernames were the same). I was promoted to admin by Luke, which indicates he and Will must have been in communication for this to happen.

https://i.imgur.com/EPKWSt4.png

However, the VIDY CEO argues that he didn't actually sign off on the bounty, indicating that it was being run and operated without his permission.

https://i.imgur.com/Mb0UYlQ.png

However, the bounty was openly promoted in the official VIDYCOIN group on numerous occasions by admins of the group, including Will and Luke. Similarly, Luke is directly mentioned as the contact for the bounty within the bounty thread itself;

https://i.imgur.com/y9FB91x.png

The quote can be seen in this thread here: https://bitcointalk.org/index.php?topic=4562571.msg41703948#msg41703948

Interestingly, this specific part was edited out of the original thread, seemingly because the team was trying to break the link between official usernames and the bounty.

As the end of the initial bounty period drew to a close, we were then informed that they would be extending the bounty, but they refused to pay us any additional tokens. Because of this, we forfeited the role under the assumption that the VIDY team would duly take over the responsbility.

VIDY also scammed hundreds of bounty hunters. According to the bounty rules laid out here, bounty participants should have been paid on a stake-allocated basis. This means that whoever contributes the most valuable, high-quality work should be better rewarded. The bounty indicates that a total of 50 million VIDY were allocated to bounty hunters.

However, rather than paying people on a stake-basis, VIDY instead opted to send everyone between 10,000 and 20,000 VIDY each, even though numerous bounty hunters were owed FAR more.

Curiously, the bounty company attributes the reward reduction to removing bots from the campaign. However, regardless of this, the entire reward (50M) should be distributed on a stake basis. Removing the bots should mean that the remaining successful members receive higher, not lower rewards. Also, the CEO claims to have no knowledge of the bounty, and yet they clearly refer to it as "our bounty" in the below blog post associated with the official vidy.com domain. Similarly, the stats say that they removed ICO spamming accounts and banned accounts from the reward pool, however, the original bounty ruleset did not mention anything about disallowing this. Bountycloud knew this particular bounty rule-set was not sufficient to control spam, however, the team (or Will), refused our offer to revamp and relaunch the bounty under a better rule-set, refusing to pay our fee. Based on this, we believe the bounty hunters should be paid based on the original conditions of the bounty.

https://blog.vidy.com/vidycoin-bounty-campaign-announcement/

We have attached a screenshot below, just in case they try to edit the blog post.

https://i.imgur.com/jCwmGtd.png

Not only this, but they also enforced a new KYC-requirement that was not initially outlined in the bounty terms and conditions. Similarly, Will (Telegram admin) specifically noted that KYC was not required in the bounty group. Bear in mind that VIDY forced potentially hundreds of bounty hunters to go through KYC, with no prior warning, after months of absense, while enforcing a strict time limit (bounty hunters had 12-days to submit). This inevitably means numerous bounty hunters were not rewarded. Not only this, but 10,000 VIDY is currently worth about $20 as of writing. Pretty cheap way to acquire someone's personal data?

https://i.imgur.com/JrLoiph.png

I have collected some initial comments from affected bounty hunters, these are outlined below.

Incorrect stakes

Not only this, but VIDY also disappeared for months, leaving both us and the bounty hunters in limbo as to whether they will receive their payments.

I suspect that once VIDY was listed on an exchange, the aggregate value of the 50 million VIDY was too high for them to give away, leading them to change their mind. They forget that the bounty hunters helped their project succeed in the FIRST PLACE, and bounty payments should have been distributed well before the project was even listed.

If the CEO of the company didn't know that his subordinates had promised 0.5% of the total supply to a bounty, then this is a case of serious negligence, ignorance and mismanagement.

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