SISTEMKOIN SCAMS USERS AND HUSTLE PROJECT. SISTEMKOIN WILL EXIT SCAM SOON!

[Flush-Grey]

Sistemkoin Scams Hustle (HUSL) Project


#Sistemkoin #Crypto Exchange from Turkey has lied about Hustle $HUSL IEO results to its users.

1. Sistemkoin shared with public that $880,000 worth of HUSL tokens were sold in its IEO.

2. Internally, Sistemkoin has informed Hustle that they only sold $1,000 worth of HUSL tokens.

3. Hustle project paid 4 BTC (worth $32,000) to conduct IEO at Sistemkoin and only raised $1,000.

4. Sistemkoin only returned part of the unsold HUSL tokens. Sistemkoin then went to list HUSL tokens for trading without consulting Hustle project.

5. Sistemkoin lied to its users that this project was very popular (selling $880,000 worth of tokens). Hoping that Sistemkoin users will buy HUSL on its exchange.

6. Sistemkoin then dumps the tokens it has stole from Hustle project on its own exchange and other exchanges, to maximize their profit.

7. By project's estimation, 10m stolen tokens have been sold so far. Sistemkoin managed to dump a further $800,000 worth of tokens on unsuspecting users on its own exchange and other exchanges.

8. The greed of Sistemkoin has resulted in them making almost US$1m while all users and Hustle project have lost so much money.

The sudden reversal of behavior by Sistemkoin suggests that Sistemkoin is in financial troubles. Probably did not hedge its BTC and ended up losing a lot of money in the March crash of crypto prices. Why else would one make such bad business decisions?

Scamming their partners, dumping on users are typical moves small crypto exchanges make before closing down. It is the final cash grab by Sistemkoin to maximize all the profits they can make before disappearing. This sudden change in behavior was also witnessed right before IDAX closed down. Sistemkoin is going to exit scam soon.

What to do now:
- Withdraw funds immediately from Sistemkoin
- Share this to protect your friends in crypto and denounce bad behavior
- Do not participate in any bounty from projects working with Sistemkoin
- Do not do any business with Sistemkoin

---

Evidence:
https://twitter.com/TheHustleToken/status/1241921904988033024

Stay safe everybody!

[joseyphil82]

Lol this is what happens to projects filled with stupid teams that don't do their own research on exchanges before contacting them, if they can't do research they should have at least ask the public for votes about exchanges, exmarket, sistemkoin, p2pb2b, latoken, Hitbtc all these exchanges have to be avoided by all costs

[Flush-Grey]

Lol this is what happens to projects filled with stupid teams that don't do their own research on exchanges before contacting them, if they can't do research they should have at least ask the public for votes about exchanges, exmarket, sistemkoin, p2pb2b, latoken, Hitbtc all these exchanges have to be avoided by all costs

I 1,000% agree that the exchanges you mentioned are shit.

Let me add Chainx into that list. Their modus operandi is they use another company (that sounds a lot like the famous Pantera Capital)... called ICO Pantera, lie to projects that they can raise millions of dollars, and then suggest to do their fundraising on ...

CHAINX!

 

AND DUMB PROJECTS ACTUALLY BELIEVE THEM!

[Stanlo]

Lol this is what happens to projects filled with stupid teams that don't do their own research on exchanges before contacting them, if they can't do research they should have at least ask the public for votes about exchanges, exmarket, sistemkoin, p2pb2b, latoken, Hitbtc all these exchanges have to be avoided by all costs

I 1,000% agree that the exchanges you mentioned are shit.

Let me add Chainx into that list. Their modus operandi is they use another company (that sounds a lot like the famous Pantera Capital)... called ICO Pantera, lie to projects that they can raise millions of dollars, and then suggest to do their fundraising on ...

CHAINX!

 

AND DUMB PROJECTS ACTUALLY BELIEVE THEM!

Yes dumb projects will believe them, new projects are always filled with teams that aren't ready to listed to the world, we have been in crypto space before them and yet they failed to listen to us, IEO is the only last man standing for fund raising and you will only be successful if you go for top exchanges only, simple as that

[shinratensei_]

I can even add some exchange sites that need to be avoided even by any ICO platform. sistemkoin, coineal, chainx, p2pb2b, latoken and many more. These garbage exchange sites are always scamming the ico project that wants to use its service. I can say those exchange sites have no users but only the bots. you should avoid trying to deal with one of those exchange sites

[Flush-Grey]

This is from another thread some weeks ago. Looks like Sistemkoin is now LEGENDARY SCAMMERS EXCHANGE

In case this helps anyone: Sistemkoin is a scam exchange.

They:
- list dodgy ponzi coins for pay
- they arbitrarily block accounts (conveniently when you try and withdraw ETH or BTC)
- they leak personal documents
- they lose personal documents (ohhhh you'll need to verify your account again)
- they have major, easily exploitable security bugs in their system
- they work with ponzi operators to fake and inflate trade volumes and pricing
- they block users who try and sell dodgy ponzi coins (because of course that would crash the price).

So yeah, Sistemkoin is a scam exchange.

[Flush-Grey]

I can even add some exchange sites that need to be avoided even by any ICO platform. sistemkoin, coineal, chainx, p2pb2b, latoken and many more. These garbage exchange sites are always scamming the ico project that wants to use its service. I can say those exchange sites have no users but only the bots. you should avoid trying to deal with one of those exchange sites

DYOR

https://bitcointalk.org/index.php?topic=5235763.0
https://bitcointalk.org/index.php?topic=5093594.0
https://www.facebook.com/pg/Sistemkoin/reviews/
https://coinfomania.com/uptrennd-founder-lose-40000-to-sistemkoin-exchange/
https://www.uptrennd.com/post-detail/30-points-reward-sistemkoin-exchange-is-a-scam~MjIyMjI3
https://www.reddit.com/r/Cryptalk/comments/8vgvb6/scam_has_sistemkoin_stolen_anyone_elses_money/
https://www.ccn.com/turkish-crypto-exchange-sistemkoins-disturbing-security-flaw-reveals-major-withdrawal-complaints/
https://bitcoinexchangeguide.com/new-details-emerge-in-relation-to-recent-crypto-scam-with-turkish-bitcoin-exchange-sistemkoin/
https://medium.com/@jeff_36488/sistemkoin-exchange-is-a-scam-they-scammed-me-for-over-40-000-and-continue-to-scam-people-t-6bfdb38cb2de

[Mighty_crypt]

New developers have no experience with these exchanges but they failed to do their own diligent part by asking about the exchanges from traders or even members on this forum, even these exchanges have bad reviews on the internet, I guess they use such exchanges because of listing funds

[sangjoewara]

Lol this is what happens to projects filled with stupid teams that don't do their own research on exchanges before contacting them, if they can't do research they should have at least ask the public for votes about exchanges, exmarket, sistemkoin, p2pb2b, latoken, Hitbtc all these exchanges have to be avoided by all costs

Yes, I agree that we should avoid some exchanges such as exmarket, sistemkoin, p2pb2b, latoken, but not with Hitbtc, because in my opinion the Hitbtc exchange is still feasible to use even though the exchange has had a bad case in cryptocurrency.

[Twinkledoe]

Lol this is what happens to projects filled with stupid teams that don't do their own research on exchanges before contacting them, if they can't do research they should have at least ask the public for votes about exchanges, exmarket, sistemkoin, p2pb2b, latoken, Hitbtc all these exchanges have to be avoided by all costs

Yes, I agree that we should avoid some exchanges such as exmarket, sistemkoin, p2pb2b, latoken, but not with Hitbtc, because in my opinion the Hitbtc exchange is still feasible to use even though the exchange has had a bad case in cryptocurrency.

Hitbtc has their flaws but yes, I agree not to level with p2pb2b, latoken, sistemkoin..They are way better than these exchanges. I can say way better as I've had used hitbtc several times before and never had any problem with them. But for sistemkoin, there are too much things that are shady on that platform. So yeah, better get all your coins out before it's too late.

[Byakuga]

If this doesn't happened to devs how will they know that some exchanges are bad for business? New developers aren't ready to learn, they always think they are the wisest of all

[bassbity]

I can even add some exchange sites that need to be avoided even by any ICO platform. sistemkoin, coineal, chainx, p2pb2b, latoken and many more. These garbage exchange sites are always scamming the ico project that wants to use its service. I can say those exchange sites have no users but only the bots. you should avoid trying to deal with one of those exchange sites

Indeed the systemkoin is a bad exchange like the exchange of other things that have the reputation of its users, could the project not choose a good exchange to do IEO? The exchange you mentioned was indeed average with bot users to display the trade volume so that many people would glance at it. I don't understand if there is a good platform, just choose a low exchange.

[Chuky92]

A question comes to mind when I came across this post and that is, did the team of that project made their research before listing their IEO there? I think not because they wouldn't have listed there if they did. That exchange already have bad reputation and there are other exchanges like this one, or even worst than this one which are known for listing bad projects, killing projects etc such as Latoken and P2PB2B. It might not sound good, but I don't think it would hurt if the team of any upcoming projects ask their community members of their views on exchanges worthy of IEO.

[qazgroup]

Really annoying and disgusting, i think its time all crypto exchanges should be properly registered and licensed before they can operate, personally i am sick and tired of listening to all these frauds done by exchanges everyother day, i think we should report such exchanges to the authorities somehow so that innocent people could be saved from scam.

[jacafbiz]

I think it is very wrong to start spreading FUD like this about an exchange when the information we have is just from one side, I have seen some developers accusing exchanges of some shady deals like what happens between Solana team and Kucoin, people need to remember exchanges are set up to make money and this comes first for them and they will do anything to protect and take care of themselves first.

[Mikestar2010]

I am currently experiencing an 18 Day delay met with the same were upgrading and maintaining the BTC wallet.

They have now blocked me from following them on twitter also although i can log into my account.

As this has now gone on longer then my deadline. I informed #sistemkoin that a telegram would be created.

This group is to collate all issues and understand how widespread the #btc or withdrawal problem is.

Please join and share your problem https://t.me/sistemkoinunofficial

We can tackle this together. I do have resources at my disposal and lots of hands make for lighter work.

Kind Regards

Mike

[Winscosinally]

It's complete stupidity If anyone join IEO projects from sistemkoin because they have nothing good to offer, the exchange is plagued with fake volumes and liquidity, any project that plans to use this exchange knows nothing about crypto exchanges or probably in co-op with this exchange to scam investors

[ShayD]

Really annoying and disgusting, i think its time all crypto exchanges should be properly registered and licensed before they can operate, personally i am sick and tired of listening to all these frauds done by exchanges everyother day, i think we should report such exchanges to the authorities somehow so that innocent people could be saved from scam.

Just saw a new SistemKoin scam a week ago. It was such obvious bull**** - from the $19 per 'WIZ' coin airdrop offering and the thousands $$$ each person could get for the airdrop tasks or even using a ticker symbol from another crypto that's been around a long time. Misspelled words and other ridiculous nonsense on the whitepaper and topped off with a website address that didn't resolve anywhere. Even the domain name wasn't registered, which would have at least made the scam more believable. They probably didn't want to waste the $5.99 at GoDaddy. I can't believe people still fall for this garbage. I feel sorry for them.

The real problem is the scammers themselves hardly ever get caught and if so, aren't really punished. I think their stealing and thieving is all because they just weren't beaten hard enough and long enough when they were growing up. I bet there's 10 or 20 thousand people out there now who are damn sick and tired of being ripped off and would like to help these thieves with all those missing beatings now, though.