[SCAM] Burst.Money project, scamming bounty manager and participants.

[CryptopreneurBrainboss]

Account on forum: burstmoney

ANN thread: BURST.Money - DeFi Money [Self-Custody Payment network]
Archive: https://archive.is/wip/3QTA7

Bounty thread: [Ended] Burst.Money Bounty || Allocation 310,000 BURST ($837,000) || 60days.

What happened: Burst.Money project breached the contract between them & Brainboss Management Services and has refused to enable the transfer option on their token to enable promoters recieving their reward.

Full details; The burst teams refused to keep their side of the deal in regards to the weekly payment of our managerial fees for managing their campaign therefore I was forced to stop the campaign. Initially the campaigns was to last for 8weeks but was forced to end the campaign in just 3 weeks after only the first week and partially second week managerial fees was paid.

The total bounty budget was then divided by 8 weeks and that of 3 weeks was to be sent out to the participants and the rest returned to the burst.money team although when I tried transferring the token from my escrow wallet to that of which will be used to dispatch the tokens I got errors on different occasions.


1st attempt transaction Hash: https://bscscan.com/tx/0x754e26d410ab9d6cf8c65b522b24dd79c3336c419cc593f07c5f361b5e67b7d0
2nd attempt transaction Hash: https://bscscan.com/tx/0x4fae43c3afcf0023f45f7d0ad4f58efd548a11c25c78a5f09618e4804956dc48

This obviously means the team isn't interested in paying the participants and if the campaign was to last for the intended week both the participants and the campaign won't have been paid as they tried negotiating for my service to be fully accounted for at the end of the campaign which I refused to accept.

Other concerned: I have lost connection with the team so there's no other options but to call them out as scams and alert potential investors to abstain from investing their funds in such a project.  I wasn't informed of their token been locked so I was kept in the dark.

Support flag: https://bitcointalk.org/index.php?action=trust;flag=2754

My sincere apologies to the participants that trusted my judgement and enrolled in promoting this project with anticipation of them been a success like my previous campaign.

[1714144678]

1714144678

[Lobson]

This is really bad from the team for not keeping to the initial agreement.

[savetheFORUM]

My sincere apologies to the participants that trusted my judgement and enrolled in promoting this project with anticipation of them been a success like my previous campaign.

I think you need to be more responsible because the real loser here are the bounty hunters. Please take tokens from them in advance next time because unless the tokens are escrowed, this can happen at anytime.

[BITCOIN4X]

Of course, this was not something campaign manager and promotion participant had hoped for. Breaking the initial agreement can be a bad sign for the continuity of the bounty and payment and I think you as the manager have the right to terminate the contract with the project owner and terminate your service. Since they have violated and have no intention of paying the promotion participant, I will tag them based on the fact and data in this thread.

[Johnyz]

I was also a participant on this campaign and its really sad that we're being fooled by Burstmoney team, no wonder they have no real investors. This is a warning to everyone since their site is still up, NEVER INVEST YOUR MONEY ON BURSTMONEY, it'll surely go burst like a balloon if you do so.

To OP, you handle this situation very well and you stopped the campaign right away as they didn't comply with the contract, still a good management.

[lovesmayfamilis]

I think you need to be more responsible because the real loser here are the bounty hunters. Please take tokens from them in advance next time because unless the tokens are escrowed, this can happen at anytime.

In what sense do you need to be more responsible?
He apologized on time and stopped the campaign. Maybe he should pay the participants out of his pocket?
You forget that we are all human. Bounty hunters must understand the risks of participating in rewards. Don't blindly follow a famous manager. It is always necessary to conduct your analysis of the company they are going to advertise.
CryptopreneurBrainboss, you are not the first to receive such spanking from scammers, so don't stop running campaigns.

[Rikafip]

I think you need to be more responsible because the real loser here are the bounty hunters. Please take tokens from them in advance next time because unless the tokens are escrowed, this can happen at anytime.

Thing is, even if @CryptopreneurBrainboss insisted on getting tokens escrowed, it probably wouldn't change the outcome; owners of that project would simply find some other bounty manager who wouldn't ask for escrow, and would probably done the job much worse than @CryptopreneurBrainboss. So in the end, bounty hunters would get screwed too. But even if tokens are escrowed, there are still ways to screw bounty hunters, like issuing new ones making old ones completely worthless.  It is true though that manager would protect himself in this case, if he insisted on getting tokens escrowed.

As others have said before me, that's simply a risk of being a bounty hunter, and it's up to them to decide whether or not to join non escrowed bounty campaign.

[$crypto$]

It has been said before that in joining the bounty, you have to take the risk that will happen later and most of them don't use escrow, it's a common thing so I think Brainboss has done a good responsibility even so quickly stops the campaign when there are obstacles and now the peak awaits Burtmoney's team as scammers because it didn't match the contract agreement, so I think the deal was broken by the team itself, Shit.

I think it's better Brainboss to stop in the third week, try to see the other bounties when the bounty campaign is over, the team never pays the participant a dime after their tokens are successfully traded so the risk in the bounty is much greater when you experience this, consider it natural.

[zanezane]

Never thought I would see the day that a prominent and efficient Manager is going to be duped by some bounty although I think that OP doesn't have to carry all the fault but the participants have the final say on what happens.

[bakasabo]

I took a part in this campaign and at the moment I saw CryptopreneurBrainboss put this campaign on pause due to issues with the team after two weeks and a repeat after another week, it was clear that bounty hunter should not hope to get much from it or even hope to get something from it. Glad that bounty manager reacted immediately and did not give them second-third-...-seventh chance to improve and stopped promotion campaign as soon as troubles appeared.

I suggest those, who took part in social media part, to remove all the signs of this campaign from your account to prevent spread. Who knows, maybe someday someone will scroll through your social media wall and eventually finds this scam and invests in it.

[lovesmayfamilis]

I suggest those, who took part in social media part, to remove all the signs of this campaign from your account to prevent spread. Who knows, maybe someday someone will scroll through your social media wall and eventually finds this scam and invests in it.

Do you think bounty hunters are worried about this? If you assumed a little differently, what will happen to the accounts of those who support such a scam?? Worrying about their account is more likely to prompt them to delete all advertised tweets than worrying about other investors. Although this is doubtful. Ideally, for the cleanliness of the forum, hunters should clean up all report posts after the end of the reward.

[UmerIdrees]

That's really sad to know that Burst team scammed us and we will not be paid for our work.  Good thing is that our manager CryptopreneurBrainboss saved us from working full eight weeks and told us as soon as he thought that team is not fulfilling as per the expectations. I wonder what will happen to those who are still not aware and invested in this scam project.

[savetheFORUM]

I think you need to be more responsible because the real loser here are the bounty hunters. Please take tokens from them in advance next time because unless the tokens are escrowed, this can happen at anytime.

In what sense do you need to be more responsible?
He apologized on time and stopped the campaign. Maybe he should pay the participants out of his pocket?
You forget that we are all human. Bounty hunters must understand the risks of participating in rewards. Don't blindly follow a famous manager. It is always necessary to conduct your analysis of the company they are going to advertise.
CryptopreneurBrainboss, you are not the first to receive such spanking from scammers, so don't stop running campaigns.

I am sorry if you were offended but I myself respect CB a lot for the work he does towards management of bounties and finding spammers. But by being more responsible I meant he should escrow the coins maybe to avoid such a situation. I never said he should pay from his own pocket, but being more cautious is the least we can expect from such a top level manager.

I have never spammed the forum so with due respect, please see what you say to someone just because I am asking him to be more cautious. Of course it's good of him to inform and bring the campaign to a halt but that doesn't mean he should not take notes and avoid the same situation in future.

Thing is, even if @CryptopreneurBrainboss insisted on getting tokens escrowed, it probably wouldn't change the outcome; owners of that project would simply find some other bounty manager who wouldn't ask for escrow, and would probably done the job much worse than @CryptopreneurBrainboss.
As others have said before me, that's simply a risk of being a bounty hunter, and it's up to them to decide whether or not to join non escrowed bounty campaign.

Makes sense but you know earlier we had a lot of ponzi signature campaigns and the way we get rid off them was through sheer discipline. No manager would just work for such campaigns and similarly we need to build a culture where no manager would work without escrow. It will take some time but eventually things will be better.

[CryptopreneurBrainboss]

No manager would just work for such campaigns and similarly we need to build a culture where no manager would work without escrow. It will take some time but eventually things will be better.

I didn't say I didn't escrow the funds, I have 310,000 $Burst go read the thread carefully and understand before you air your contributions based on assumptions. The issue here is I was kept in the dark and wasn't made aware of the tokens not been transferable or if there was an update on their smart contract.

All connection with the team was lost until this thread was created, the team has reestablished connection with me but I'm not backing on their words again. The last time I did that, I ended up offering a free service just because I   thought I saw something worth giving a chance.

When I tried to move the escrow tokens to my dispatching wallet, that's when I disqualified the option to transfer the tokens wasn't available as showed in the image and transaction ID above.

[savetheFORUM]

Thanks for the explanation and I was understood wrongly. I was just thinking of how we can avoid this in the future because you are one of the best campaign managers here and if this happens with you, some naive managers would be easily lured by such owners.

I am sorry if I hurt you by any chance, I never doubted your management skills nor I was blaming you. I just wanted to think of possible solution to such problems so these don't happen again. But I am sorry I feel like I upset quite a few people here, that wasn't my intention.

[DigitalFox]

Sorry to hear that OP. The worst part of it IMHO isn't the initial breach of the contract of which you timely informed the participants and put the campaign on hold, but the locking of escrowed funds, now that's really low.
I was considering participation but decided against it when I took a closer at the project, there were few alarming things like non-functional features in the wallet, no peers connected etc, and asking questions in developers telegram didn't give clear answers (LOL sometimes they couldn't even get what I'm talking about until shown screenshots).
Unfortunately these things do happen, so blaming campaign manager who acted swiftly and really minimized participants losses would be wrong, as I see it.   

[Rikafip]

Makes sense but you know earlier we had a lot of ponzi signature campaigns and the way we get rid off them was through sheer discipline. No manager would just work for such campaigns and similarly we need to build a culture where no manager would work without escrow. It will take some time but eventually things will be better.

Even if by some miracle you get consensus from all bounty managers (or at least reputable ones) not to accept bounty campaigns if funds are not escrowed, project owners could simply circumvent that by hosting bounty campaign by themselves, so I don't think that there is an easy solution to all that due nature of altcoin bounty campaigns. The only way that can be done if forum itself get involved in regulating that, but I doubt that will ever happen since even outright scam are not moderated here.

What baffles me more than anything ( even more than the fact that bounty hunters keep getting into those altcoin campaigns while chances of them working for free are pretty high) is that these altcoin campaigns are still a thing here. I mean, bounty hunters follow each other on social media platforms, articles they write are copy/paste material from whitepaper so what is their actual reach among potential investors?

[usakli64]

Thanks anyway for everything, I will continue to participate in your campaigns. You're an honest manager, exceptions don't break the rule

[Coin-1]

No manager would just work for such campaigns and similarly we need to build a culture where no manager would work without escrow. It will take some time but eventually things will be better.

I didn't say I didn't escrow the funds, I have 310,000 $Burst go read the thread carefully and understand before you air your contributions based on assumptions. The issue here is I was kept in the dark and wasn't made aware of the tokens not been transferable or if there was an update on their smart contract.

I have never encountered a scam like this before. As far as I understand, the "Burst.Money" team has created a BEP20 smart contract, then issued tokens and sent 310 thousand BURST to the bounty manager. CryptopreneurBrainboss sincerely thought he was doing escrow funds and would be distributing tokens among bounty hunters anyway, so he agreed to manage the ad campaigns. After that, the team locked the tokens using the appropriate function so as not to pay the bounty hunters for their work.

In my opinion, this incident should be a new lesson for every trusted bounty manager. They now need to be sure that the tokens they hold in escrow can be transferred to a different address.


I also discovered that two weeks ago the "Burst.Money" team created a new BEP20 smart contract and a day ago sent new tokens to the bounty manager, but they have already deceived the community and ruined their reputation.

[CryptopreneurBrainboss]

I also disovered that two weeks ago the "Burst.Money" team created a new BEP20 smart contract and a day ago sent new tokens to the bounty manager, but they have already deceived the community and ruined their reputation.

I had no idea until few hours after creating this thread that a new contract was created as I regain connection with the project's representative. Before now I wasn't receiving any positive feedback when I write them, it got to a point they stopped replying and I just decided to fund the dispatching of the tokens myself.

But from our conversations so far, debts will be paid, funds for the transaction fees will be sent but I can't take their words until action are done. Last time, it didn't go so well when I backed on their words. The new tokens were just sent to my address, if I receive the transaction fees and my debts are cleared out, I'll dispatch the tokens.

If they were to clear all this, the tagged would be removed and flag opposed but a new neutral feedback would be put on their account to info investors what they're getting into as  they have lost all trust from me. If my comment would stop me form recieving my debts I don't mind.