Loan Default - asu u=519783

[TGD]

Just in. I recently visit coins.ph office and they are willing to cooperate to solve the issue. They need a formal letter (official Request for Information) from the authorities to share information. I hope that someone can do this in my fellow country man to help OP since this the second big loan defaulted from him.

I can submit the formal request letter to the coins.ph office once its available.

[1714688454]

1714688454

[1714688454]

1714688454

[TalkStar]

According to DireWolfM14, their last communication was on October 8th, when he promised (again) to start making payments. He was last active on the forum on November 4th, and that's ample time to respond.

Yeah i have seen that and its not hidden here. "DirewoolfM14" have already described everything on his thread and we all know what happened actually but you may haven't got the proper meaning of my reply.

DirewolfM14 given a good amount of time to "asu" but he didn't responded yet. In this situation negative trusts will work just as a warning for community users but it will not bring Direwolfm14 money back. Even I don't think other lenders will feel comfortable to give "asu" loan if he pay current one.  So in a situation like this i am not seeing any problem to wait little longer for the repayment although no one can assure lenders about it.  

[FatFork]

DirewolfM14 given a good amount of time to "asu" but he didn't responded yet. In this situation negative trusts will work just as a warning for community users but it will not bring Direwolfm14 money back.

Not necessarily. We've already seen some members who repented and repaid their loans after the community gave them negative trust. Neg. trust can be lifted and they can still get back to their engagement on the forum and regain their reputation. Apart from being the right thing to do, I think it would be his ideal route to come back and explain his position. Judging from his previous reputation, he might be able to join some sig. campaign to repay all debts over several months of forum activity.

But I agree, we can give him all the time in the world now. As a community, there's not much we can do except alert other members of the abuser.

[Bitcoinsummoner]

DirewolfM14 given a good amount of time to "asu" but he didn't responded yet.

And while a user try to scam try to take extension as long as possible so that in the meantime the scammer can earn few more from signature campaign also there might have a chance to make any other scam.

[TGD]

I received a follow up email from coins.ph contains the context below. I hope that Direwolf will read this.

You can email coins.ph here: help@coins.ph
They are always online during weekdays, 8am to 8pm Philippines Standar Time. You can tell them directly your issue.

We understand that you want to get more information regarding this matter.

If you or someone you know wishes to pursue legal actions, they may report the incident to the Anti-Cybercrime Group nearest them. In the event that they reach out to us requesting for more information, we will be happy to coordinate and cooperate with them and provide any and all relevant information that they request from us to help their case.

You may also inform them that they can reach out to us personally so that we can check on this incident better.

If you have questions about this, feel free to reach out.

[DireWolfM14]

I received a follow up email from coins.ph contains the context below. I hope that Direwolf will read this.

You can email coins.ph here: help@coins.ph
They are always online during weekdays, 8am to 8pm Philippines Standar Time. You can tell them directly your issue.

We understand that you want to get more information regarding this matter.

If you or someone you know wishes to pursue legal actions, they may report the incident to the Anti-Cybercrime Group nearest them. In the event that they reach out to us requesting for more information, we will be happy to coordinate and cooperate with them and provide any and all relevant information that they request from us to help their case.

You may also inform them that they can reach out to us personally so that we can check on this incident better.

If you have questions about this, feel free to reach out.

Thanks for your help, TGD.  I'll definitely reach out to them. 

It probably wouldn't hurt to ask if they can help with the TYM issue also.  I submitted a report to the FBI Cyber Crimes unit about that, but who knows how long before they do anything about it.  Contacting Law Enforcement in the Philippines could be helpful.

[AB de Royse777]

Thanks for your help, TGD.  I'll definitely reach out to them. 

It probably wouldn't hurt to ask if they can help with the TYM issue also.  I submitted a report to the FBI Cyber Crimes unit about that, but who knows how long before they do anything about it.  Contacting Law Enforcement in the Philippines could be helpful.

Maybe make a topic in their local will help however reporting it to the FBI Cyber Crimes is the right thing you did. I really do not understand why asu is still silent unless he is much confident that FBI or low agencies will fail to get him even after he has his details with coins.ph

[Coin_trader]

Thanks for your help, TGD.  I'll definitely reach out to them. 

It probably wouldn't hurt to ask if they can help with the TYM issue also.  I submitted a report to the FBI Cyber Crimes unit about that, but who knows how long before they do anything about it.  Contacting Law Enforcement in the Philippines could be helpful.

Maybe make a topic in their local will help however reporting it to the FBI Cyber Crimes is the right thing you did. I really do not understand why asu is still silent unless he is much confident that FBI or low agencies will fail to get him even after he has his details with coins.ph

Believe it or not, Philippines law enforcement action about this issue will be very slow if no one will follow up regularly about the case and some unde the table payment. I suggest that Direwolf should hire a trusted Filipino member here that can do all the case filing and and follow up. The rate for doing this job is not that expensive since it will just cost a few bucks for transportation fee and so on.

There's a fast way to track the Asu once you get the Identity. Post it on social media like Facebook and let others share it to make it viral. In that way, Police will be pressure to speedup. A 3rd World country thingy.

[Bttzed03]

~
Contacting Law Enforcement in the Philippines could be helpful.

I did some reading (I'm not a lawyer or a law student). asu's loan could be classified as small claims because the value does not exceed 300K or 400K in Philippine Peso.

BTC0.3 * $20,000 * PHP50/dollar = PHP300,000 though I doubt the basis of conversion would be in $20K. The rate would probably be at the time the loan was granted/sent.

Small claims in the Philippines are considered as civil cases. The procedure is much simpler and less expensive compared to criminal cases which is good in a way but the entire procedure could still be tedious for a foreigner like you.

8. Can lawyers appear in the hearing?

Lawyers are not allowed to appear in behalf of or represent a party.

9. Can a representative appear in the hearing?

Yes, provided that appearance by representative is for a valid cause and the representative must be a relative of the individual party and NOT a lawyer. Furthermore, the representative must be armed with a Special Power of Attorney.

Needless to say, you'll have to come here personally and file a case.

[cabalism13]

Contacting Law Enforcement in the Philippines could be helpful.

Dire, as you already know I'm always willing to help, but I do have remembered an issue about this kind of problem, herein the Philippines our Law is quite awful, to tell you the truth there isn't a law here that an individual wil be imprisoned if she/he didn't pay his debts.

[cryptoaddictchie]

Maybe make a topic in their local will help however reporting it to the FBI Cyber Crimes is the right thing you did. I really do not understand why asu is still silent unless he is much confident that FBI or low agencies will fail to get him even after he has his details with coins.ph

There is already a topic and discussion thread about this case and some members are willing to help with this loan default. Check here: Asu Loan Default

There's a fast way to track the Asu once you get the Identity. Post it on social media like Facebook and let others share it to make it viral. In that way, Police will be pressure to speedup. A 3rd World country thingy.

This is really gonna be helpful. But before doing that. Those guys that will help must make sure that the account is the real one whom actually did the loan and not other guys whose profile are being used.

There are some cases before in social media's that some people are buying the identity of other for an account restriction on coinsph. If the account associated with the address is a bought one then the guy will suffer is not the one who did loan. Anyhow I suggest that if gonna make a move, its like 100% or else someone will suffer the wrong doing of this kind of act.

@cabalism13 might be the one to actually help since he almost knew all the members closely of our internal group.

[chaser15]

..to tell you the truth there isn't a law here that an individual wil be imprisoned if she/he didn't pay his debts.

But in the case of asu, it's considered a scam since no communications have been made for long and the user just disappears without a trace here.

Scammers can go to jail here.

Coins.ph will not release the customer's identity easily as they are working like banks. DireWolf should be the one to contact coins.ph and file a complaint. And the one that will be hired as his representative here in the PH will do the follow-up works after filing the formal complaint.

For assurance, Asu can be trace even he used several accounts as for sure, the account owners are involved with him personally. Coins.ph users are all verified. And kudos to this exchange, they are helpful and cooperative to all serious cases.

I know asu knows this but still, why he is silent. He should know the fact that he can be traced.

[cabalism13]

@cabalism13 might be the one to actually help since he almost knew all the members closely of our internal group.

Already gave Dire some hints, but as we can see there's no update on what he plans to do next... Just by searching on facebook and connecting the dots tru coins and gcash, the user behind asu will be caught in no time, IMO (Only if we push this with the help of the authorities)

[timerland]

Just in. I recently visit coins.ph office and they are willing to cooperate to solve the issue. They need a formal letter (official Request for Information) from the authorities to share information. I hope that someone can do this in my fellow country man to help OP since this the second big loan defaulted from him.

I can submit the formal request letter to the coins.ph office once its available.

Breath of fresh air to see these companies cooperating in these issues - it would certainly serve as a very important precedent for future scams involving bitcoin. Should deter scammers at least a little bit given that the threat of potential real life penalty. Good job OP and the community on chasing this up - a lot of lenders just let these defaults slide after a red tag and in the long run that gives scammers a sense of complacency.

@cabalism13 might be the one to actually help since he almost knew all the members closely of our internal group.

Already gave Dire some hints, but as we can see there's no update on what he plans to do next... Just by searching on facebook and connecting the dots tru coins and gcash, the user behind asu will be caught in no time, IMO (Only if we push this with the help of the authorities)

Hopefully this will go through with authorities. Not sure about regulatory standards in ph but obviously getting through the privacy barrier will be tough. Coins.ph will have to weigh their risks here of releasing private info but there's obviously higher chances now that they've committed.

[TGD]

@cabalism13 might be the one to actually help since he almost knew all the members closely of our internal group.

Already gave Dire some hints, but as we can see there's no update on what he plans to do next... Just by searching on facebook and connecting the dots tru coins and gcash, the user behind asu will be caught in no time, IMO (Only if we push this with the help of the authorities)

Getting his real identity will be benificial. Once we get it, we can bring this case to the famous sumbungan ng bayan #raffytulfo. They will love to solve this case because this is a unique case since it involves foreigner and the money in line was huge plus it was crypto. Its easy too to send an email or contact them because there line is always open report. I once report them our land property and they help us solve it.

I will be happy to get in touch with them once the real identity reveal. We can contact first Asu to inform him what will gonna happened then push through once he ignore.

But I believe his personal appearance will be required to solve this. Maybe they can help too on solving TYM case because they have a good researcher compared to our local authority.

[GreatArkansas]

I am surprised on what asu did, this is also one I included on my trust list before. This user also the one who introduced to me the trust system of the forum (there is also one user asu did the same with me), asu for sure targeted before some newbies and teach how the trust system works so asu can be included on their trust list. I think it is part of the plan, asu collected some users to trust him/her, asu also did multiple loan transactions from our Local which mentioned above.

Upon checking our conversation telegram, asu also tried to ask before to me a loan of 0.032btc, but that time I don't have extra fund, and some conversation of us is about the trust system.

[jamyr]

It’s obviously an exit scam, all his previous loans detailed above are for a much smaller sum.
0.3BTC is obviously what he thinks his account is worth to exit. I dunno what Legendary accounts sell for but I presume less than 0.3BTC.
Sorry for your loss OP, genuinely.

It could be that he is just having a very hard time. From my own experience, sometimes shit happens, and when it does, it is just so hard.

I don't know what you define as an exit scam but if that was his intention from the start he probably wouldn't have paid the other loans back or made some repayments on this one. As for the account, I don't really know how much they go for these days but I'd assume a decent Legendary with a bit of trading history and feedback could get upwards of $1000. Taking out loans is probably easier and safer than selling your account though.
Some people just do them because it makes their life a bit easier in the real world, and some people probably take them because they're a gambling addict, ~snip

It is very hard, especially when every opportunity you have to try to be back on your feet, is taken away.
In my case, signature campaigns were my primary source of income before I had a loan problem with the good Ultra of primedice.

well,

I see it now that my exclusion from being able to earn from signature campaign and being able to pay Ultra sooner(credits to Lauda and marlboroza), is a blessing in disguise as I was able to reduce my gambling activities even if it felt like it was personal at first.


To asu:
I hope you don't give up. It may feel like this is to much to crawl out from but believe me, these challenges makes life more colorful.



I am Opposing the flag, because I feel like it maybe helpful for him(asu) to have a presence of somebody who won't turn away from him even in this failure. Also, since the flag is not very accurate, as the act did not occur just in November of this year.

EDIT::::
deleted opinion,

[mk4]

It could be that he is just having a very hard time. From my own experience, sometimes shit happens, and when it does, it is just so hard.

It is very hard, especially when every opportunity you have to try to be back on your feet, is taken away.

No matter how hard his/her situation is, it still doesn't change the fact that asu defaulted the loan. If asu was in a really bad situation and at the same time if we're going to take the moral and ethical approach, the attempt would be to at least try to negotiate with DireWolfM14 for a reduction or complete removal of the interest(probably with some proof), and a delayed deadline. But nope.

Also taking note that we don't even know if asu is actually in a tough situation. Asu may(or may not) just be a long-term scammer.

[RapTarX]

From my own experience, sometimes shit happens, and when it does, it is just so hard.

True but there’s nothing wrong with keeping the lender in touch what's going on. DirewolfM14 may have extended the repayment date.
Although initially, asu might not have any intention to scam, but with the huge price changes, they weren’t able to repay the loan, thus, an exit scam.

[DireWolfM14]

If asu was in a really bad situation and at the same time if we're going to take the moral and ethical approach, the attempt would be to at least try to negotiate with DireWolfM14 for a reduction or complete removal of the interest(probably with some proof), and a delayed deadline. But nope.

I haven't charged interest since April.  All I've asked of asu since then is to maintain communication, and make payments.  He offered to pay off the loan in full by August, I only asked him to honor his word.  I know what this past year has done to many folks, and I don't want to put any one in a difficult position.  I just want my money back.