Byzbit - Another bounty fooling hunters with KYC at the end

[Bttzed03]

Bounty thread: https://bitcointalk.org/index.php?topic=5182112.0 (Archive)

After starting off as a bounty with no KYC requirement and repeatedly confirming it in their bounty telegram group, the team has decided to implement it after the bounty has ended. Like others campaigns, they say it's for "scam prevention" and "compliance". Hunters are only given ten days to comply by submitting their personal information through a google form. It's another dick move but I guess it's no surprise coming from a project with a fake team


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[Rikafip]

Worst thing about this is that so many bounty hunters joined this campaign, despite Byzbit being busted for using fake team photos whole month before campaign even started. So everyone was well aware that they are not the team to trust.
I personally don't feel sorry for bounty hunters, as they helped them spreading their bs project. Small price to pay IMHO.

[janggernaut]

Only 10 days to complete the KYC, it's totally bullshit from team. Even if they have set the time to 1 month for complete the KYC, i don't think it will be work. I mean how fast they can promise to all participants about checking all of their KYC document?

Worst thing about this is that so many bounty hunters joined this campaign, despite Byzbit being busted for using fake team photos whole month before campaign even started. So everyone was well aware that they are not the team to trust.
I personally don't feel sorry for bounty hunters, as they helped them spreading their bs project. Small price to pay IMHO.

I personally feel sorry for them since they have wasted their time and got tricked by that bounty

[Little Mouse]

I guess it's no surprise coming from a project with a fake team

Hope the participants learn their lesson although they forget the lesson every time.

[Rikafip]

I personally feel sorry for them since they have wasted their time and got tricked by that bounty

Why would anyone join bounty campaign of the project with feedback like this?


Shouldn't bounty hunters do their own due diligence and check the project before they are investing their own time?
Don't get me wrong, it's a dick move to add KYC after end of the campaign, but in this case everything was clear  from the beginning and no one should have joined.

[o_e_l_e_o]

I hope no one is naive enough to actually send these scammers pictures of your ID and a selfie.

Given that their ANN thread values their tokens at $0.50, but as far as I can see online they currently trading at less than 1/100 of that at $0.003 (https://cmc.io/coins/byzbit) with a total 24h volume of 5 dollars, this is just another trash token. If they release the 1.25 million tokens they promised as bounty rewards, one user (maybe two) will be able to sell their tokens before eating up all the buy orders, the price drops to zero, and everyone else is left bag holding this trash. Even if it wasn't an obvious scam as per the fake team members outlined above, this token is worth literally nothing. Why would you give away your documents to known scammers in return for nothing?

Anyone who completes KYC for these scammers will probably find their documents up for sale within a few days.

[ryzaadit]

First of all, just want to say.

This is the power of :

Terms and Conditions can be changed or more terms can be added.

Every bounty can change their rules as they wish like:

• Delay The Distribution
• Add KYC System
• Locked Token
• Etc

So went, join a bounty you should accept to face these rules or problems after the bounty was ended.

Anyway, based on the negative feedback and some research from scam buster why you join this shit project?

[The Sceptical Chymist]

Anyone who completes KYC for these scammers will probably find their documents up for sale within a few days.

That's exactly what I was thinking.  They already got caught in two instances of dishonesty, so you'd have to be a complete fool to provide them your dox. 

Hope the participants learn their lesson although they forget the lesson every time.

Yeah well, they're desperate for work and money and thus they feel like they have to take their chances.  The project owners know this, which is why they can pull this shit with impunity.  Not many bounty hunters are probably going to complain or stop participating in bounties or otherwise do anything any differently.  But you're right, nobody seems to learn from past examples of this type of shenanigans.  You could tell something like this was coming right from the point they got exposed as having fake team members. 

[Kasabus]

Scam project always have that kind of strategy to minimize the reward distributed as it could result to other participants not being able to comply with the KYC. First it was written no KYC required but then they change it afterwards, that's clearly a scam but actually that's not new to me because in the past, there are campaigns that I joined that requires KYC after the sale and when i like the project, I do comply with the requirement.

IIRC, the same happens with Atlant bounty and they even required 1 eth and a KYC if a bounty hunter wants to continue to receive their reward.

[yahoo62278]

If users used their brains when looking at bounties, then there wouldn't be an issue. Instead users just blindly join every bounty out there.

Look at a teams trust feedbacks. Do your own research on the team. Make sure it's ran by a reputable bounty manager. Decrease your risks. Come on guys.

[hacker1001101001]

I really think a person getting into this type of campaign should knock himself instade of complaining to anyone around. The Fake Team was discovered before the bounty thread was launched and same for the feedbacks.

[Stanlo]

I was a victim of few bounties that stated No KYC when bounty starts and after bounty ends they forced KYC on everyone to get paid, i think there is no solution to this unfair treatment than following trusted bounty mangers that always stand on their words