After IDAX, now Dash?

[cheezcarls]

A senior advisor for the Dash Core Group has apparently disappeared with the funds of several investors. Concerned parties within the community are left trying to put together the pieces.

A prominent individual within the Dash Core Group has apparently gone missing in what is increasingly looking like an exit scam. The now-gone senior advisor for Dash, known by his moniker ‘moocowmoo,’ was also the owner of a service specializing in ‘masternode shares.’ The individual has disappeared and apparently run away with the funds of several Dash investors.

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Oh my, oh my, oh my! What is going on now in the cryptoverse?

Earlier, we have IDAX CEO who suddenly disappeared with the cold wallet. Right now, Dash's senior advisor follow suit by disappearing with the investors' hard-earned money?

I just do not know who's next. It means that even if you are a reputable kind of project, someone in your team would likely turn their back on the project and may do "evil stuff". Betrayal in short.

It means that any time of the day, week, month or year, one or a few in every crypto project may be the "dark horse/s" who would betray or "faking" their loyalty. Their public reputation and trust would be affected as well.

[Pearls Before Swine]

Individuals have been trying to contact him for months to no avail, leading to a prolonged search and community involvement to get to the bottom of things. Moocowmoo ran an operation where users could put up their DASH for partial masternode returns in a shared system.

Unbelievable.  I know a guy who pays someone to run a masternode for him (not dash), and I always thought he was crazy for letting someone else hold the coins for him.  And this is the reason why.

This has been months in the doing if I'm reading the article right.

Moocowmoo was then listed as a senior advisor and, suspiciously enough, is one of the only anonymous members on the entire core team.

The above is an excellent reason why anonymous members of any crypto team should be viewed with suspicion, as with ico team members who don't want to disclose their real identity and use cartoon photos instead.  This is what can happen.

[LuckyBtc]

Shit! I feel sorry for those who've lost their money.  Is there any info about how much did he ran away with?

Individuals have been trying to contact him for months to no avail, leading to a prolonged search and community involvement to get to the bottom of things. Moocowmoo ran an operation where users could put up their DASH for partial masternode returns in a shared system.

Unbelievable.  I know a guy who pays someone to run a masternode for him (not dash), and I always thought he was crazy for letting someone else hold the coins for him.  And this is the reason why.

This has been months in the doing if I'm reading the article right.

Yeah IKR. If someone has enough coins to run a masternode then they should run it by themselves or find a coin with delegation or cold staking or just be in BITCOIN!

[Flux0z]

Centralized projects will always become victims of these things, which is why I stay away from them.

Same with all these ERC20 token projects, which are premined and distributed. Back in 2012-2014 people would go NUTS by the idea that the team instamines a token/coin and sells them like they are sold today. It's not decentralized, and we've seen over and over again how these tokens become scams over time, with devs selling out, exit scamming etc.
Not saying EVERY token is a "scam", because that's not true at all, but projects "borned" this way isn't decentralized, not in the slightest.

Take a look at an old school project like Blocknet, which was launched fairly, and is still around today. Peercoin, Vertcoin, same thing. Nobody cares, because everyone is looking to make "quick" money, not caring at all.

Blocknet solving oracles, compared with Chainlink. Both projects aims to do the same, with one project being way more centralized than the other. Back in 2013 they would off have switched positions on Coinmarketcap due to this exact fact.

So be careful out there, devs holding a large percentage of the coins in circulation CAN be bad, but isn't always.

[arnoldrimmer]

This is becoming like the norm l, people left in tears over lost of money, now I see reason why people are now feeling skeptical about leaving their funds in exchanges. Centralized exchange hmmm, a no no for me

[Pearls Before Swine]

Yeah IKR. If someone has enough coins to run a masternode then they should run it by themselves or find a coin with delegation or cold staking or just be in BITCOIN!

I agree, but from what he told me it's a huge deal to run a masternode, as in resource commitment in terms of computing and who knows what else.  I have never run one, so I took him at his word.  He said some guy charges a few dollars a month to do it and that the guy has control of the collateral coins.  The first thing I thought of was how crazy he was for the last part.  He's probably well aware of how many scams there are in crypto, so I don't know why he chose to go that route.

The more I think about this story with dash, the more disturbing it is to me.  I happen to like dash as an altcoin and have respected the work the dash foundation has done to promote the coin as a currency as they have recently been doing in south america.  This is almost treasonous in my eyes that someone would pull off a scam like this. 

Centralized projects will always become victims of these things, which is why I stay away from them.

Dash isn't centralized.  The dash foundation certainly is, but not dash itself even with the masternodes.  At least no more so than bitcoin is with all of its powerful chinese miners.

[VanDeinsberg12]

The big question is about how the senior advisor of DASH was holding the investor's money? Isn't it something the really strange to see that? what's the capability of that guy as senior advisor of DASH?
Dude, so many scammers these days and that was giving a very bad impact to the name of crypto. DASH is also loosing its credibility right now by added the anonymous member like him. I hope that investors will get a solution. It looks like it's not worth again to put our money into the MN projects.

[JeffBrad12]

Shit! I feel sorry for those who've lost their money.  Is there any info about how much did he ran away with?

Yeah IKR. If someone has enough coins to run a masternode then they should run it by themselves or find a coin with delegation or cold staking or just be in BITCOIN!

You must know that there are some people that really want to stake despite having literally no idea about how to run masternode but insist to run one because it could grow their money anyway. Those kind of people are usually those that get a small information about this online business/passive income from their close friend and relative but got sucked by their greed and as a result hiring a stranger to help them run it. That's crazy and I won't ever hire stranger to hold my personal possession. heck, even I don't trust people touching my personal VPS that literally has no crypto whatsoever.

[Strongkored]

That is why do not ever entrust our money to others even if they are trusted enough, there must be a colateral and certainly a valid colateral to reduce from losses like this things.

[bitcampaign]

I think a lot of these cases aren't just on DASH and IDAX, everything that is centered will end up like this, sometimes everyone can forget and be tempted by big money so they can just disappear, but it's strange to me why they didn't do it a few years ago, could they be kidnapped

[slashz9]

so you think its already be setting? yeah pathetic hear news like this Moreover, the dash has been famous and quite large in the crypto market, of course this will be bad news for the dash and give effect.
I think the big project teams must apply kyc to each of their members to avoid things like this in the future,
case dash and idax is different you cant compare it.

[leea-1334]

So what is the lesson here? Do not trust altcoins that have all these sort of founder groups,,, they call themselves decentralized. Dash even especially so, and yet here they are showing us they are absolutely not.

Bitcoin told us we do not need to trust anyone with our money. Why did we not listen and choose altcoins? If we choose these alts, and we choose to store our savings at centralized places, we probably deserve it when things go wrong.

[nicecrypto]

Moocowmoo was then listed as a senior advisor and, suspiciously enough, is one of the only anonymous members on the entire core team.

The above is an excellent reason why anonymous members of any crypto team should be viewed with suspicion, as with ico team members who don't want to disclose their real identity and use cartoon photos instead.  This is what can happen.

I think you just raised a valid point, honestly, i don't get the reason why some team would want to stay anonymous when they have nothing to hide, how is even proper for one member of the team to remain anonymous when the rest identities are known! now look at the bad motive behind remaining anonymous, i think this should be duly emphasize on when looking to invest on any project, this is really an unfortunate circumstance to have happened to Dash coin.

[AltcoinBuilder]

Oh my, oh my, oh my! What is going on now in the cryptoverse?

really 

[samcrypto]

Investors should push this on a legal court, with our current laws I’m sure they can’t hide from this forever. So many failed projects and scammer developers, its hard to trust small exchanges now. I advices for traders to choose wisely and don’t go all in and don’t put big money on small exchanges. These kind of people will never find the real happiness in life, karma will follow them.

[Kupid002]

I think a lot of these cases aren't just on DASH and IDAX, everything that is centered will end up like this, sometimes everyone can forget and be tempted by big money so they can just disappear, but it's strange to me why they didn't do it a few years ago, could they be kidnapped

Maybe they experience bankrupt thats why they do it now. And the masternode share is they think enough to live happily now without thinking about thier future  problem. They just need to hide now to the public and go to a place that no one know him.

[LouVandetta]

Oh no, it's happening again.

Some individuals report that moocowmoo sent an email to all participants in his shared masternode on Aug 10, claiming that it was being shut down. Despite promising to return the funds, users have heard nothing for months.

This, I feel bad seeing this. They have been tricked more less. And now the guy that has their funds is nowhere to be found. What's the point in trusting your fund to some anonymous guy to run the masternodes? And now look what happened. Not mention dash is quite famous in crypto world. This will be a good a lesson I guess, for a future investors not to trust your money with some random guy even if they have a name for it.

I wonder how far this will go, will we see another exit scam along the way?

[Javi_Anibarro]

It was an old story because Moocowmoo has disappeared for a few months already, he ran a masternode service specialized for dash coin.
You can check his profile, someone sent a message about their withdrawal issue a couple of months ago: https://www.dash.org/forum/members/moocowmoo.1413/
Another fud created to pressure the market, I will not be surprised to see another old story came up again.

[btc_angela]

Oh well, this is the sad reality of crypto or at least putting your funds in someone's hand. Anytime they can disappear together with all your crypto investments. Is this a trick being pulled up by those people who have been trusted by investors or traders? Or they're really greedy so they just pull an exit scam? Disappear enjoy the money in some remote island.

[Baby Dragon]

Investors should push this on a legal court, with our current laws I’m sure they can’t hide from this forever. So many failed projects and scammer developers, its hard to trust small exchanges now. I advices for traders to choose wisely and don’t go all in and don’t put big money on small exchanges. These kind of people will never find the real happiness in life, karma will follow them.

Indeed, they have to suffer the consequences of their actions so they can learn their lesson. It is the reason why we have to be very cautious these days because we can't easily tell their true intention and the only thing that you can do is be aware of the things that is currently happening. A lot of us had experienced being victimised by scam projects and in order to avoid it, we should be wise in every decision we make. If you don't want your funds to be wasted for nothing then be careful and always do some research because people nowadays will do everything for money and nothing is impossible for them. They will always take advantage of you if they get the chance.