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[Symmetrick]

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[JeromeTash]

Seems interesting. How I wish it was possible to view the reported scams, because after all, the main purpose of reporting scam should to alert people who are smart enough to research a bit.

Had it been started during the ICO period, the website would be having lots of scam reports.

[hugeblack]

According to this

- The more submissions you have, the higher the chances of getting on the leaderboard and winning prizes

In other words you will do the work, you have to strive to be the first and then they will control who wins the prize among those who report.

It is not an ideal model for making money as everything depends on their honesty and competition between members, it would be ideal if there were requirements to join the team or put an address for donations to be sent to you if someone found your review helped them avoid losing their money.

[The Cryptovator]

It's a good initiative if there is transparency. But who knows the reality? They are the ones who will approve, so it's very easy to manipulate the leaderboard. I am curious why someone will pay for hunting scams. Though it will inspire some people for hunting scams either they pay or keep themselves. But it would be a nice database if the public can verify scammers from their database.

[ABCbits]

The prize pool is small, only $1000, but for forum scam-hunters it could be a combination of business and pleasure:

But looking at total report of top 5 hunter, it'd be difficult be easy to get part of the pool. At time of writing this post, the reports from top 5 hunters ranging from 300 to 619 reports.

But it would be a nice database if the public can verify scammers from their database.

I agree, the report could prevent some people got scammed if the report database is publicly available. If there's privacy concern, the reporter could be allowed to blur/censor non-relevant parts of the proof.

[stompix]

Hmm, getting a bit concerned that everyone is talking about the money, hell, nobody got paid for the thousands of reports in the Scam section, and nobody got paid for thousands of posts reported on this forum, why focus on the money?

As for why they are doing this, the hint is in the fact they are looking for addresses, not domains not profiles, not websites, and the little link there , "HAPI protocol"

HAPI is a cybersecurity layer that is aimed at preventing and notifying entities within the HAPI Protocol network about potential threats of Money Laundering (ML), hacking, and other unauthorized transactions of funds. HAPI is easy to integrate and it operates agnostically on all blockchain solutions.

https://hapi-one.gitbook.io/hapi-protocol/

They've got money since they've also issued a token, probably 4.5 million so 1k a month is breadcrumbs for them and this might be some sort of publicity stunt to get more funds while showing some results in analytics by linking fresh marked addresses.

Of course, there is an ulterior motive and they are not looking for the scammers or how to prevent scams, but, ...whatever 

[Jim1X]

Bitcointalk's scam accusation board already has above 14k topics and most of the cases handled  there are legit scams, its significantly superior IMO then this website because you can actually check every individual case where all evidence is presented by the OP and in addition to all of that you can also comment and see other people's comment on the matter.

Had it been started during the ICO period, the website would be having lots of scam reports.

We're in the NFT period now you can never run out of scams to report.

[Potato Chips]

I think the easiest way to meet scammers would be by joining cryptocurrency communities in telegram, reddit, discord etc... and announcing you need some help with your crypto lol.

At the very least, it looks like the addresses of approved reports would be published in their explorer, see scamfari.com in the list of reporters: https://explorer.hapi.one/reporters/

[NotATether]

How does this website raise funds for the pool?

If they're just paying users who report scams, without recovering enough money from scammers, then the service model will eventually collapse from running out of cash.

[JeromeTash]

We're in the NFT period now you can never run out of scams to report.

NFT period got nothing on ICO period when it came to scams that were being reported here.

How does this website raise funds for the pool?

If they're just paying users who report scams, without recovering enough money from scammers, then the service model will eventually collapse from running out of cash.

The website is linked to HAPI protocol just like stompix uncovered, which means the $1,000 might not be a problem for them. They are some sort of blockchain analytics platform, so the scam reporters on scamfari are actually doing a very big job for them for just $1,000.

I am sure they get paid by exchanges and other platforms that what to trace transactions, especially from hacks like this case

[Rikafip]

Hmm, getting a bit concerned that everyone is talking about the money, hell, nobody got paid for the thousands of reports in the Scam section, and nobody got paid for thousands of posts reported on this forum, why focus on the money?

Well, that's not entirely true as majority of scambusters are in signature campaigns so in the end they are getting paid for their activity.

NFT period got nothing on ICO period when it came to scams that were being reported here.

Key word is "here". The only reason why less scams are reported here than before its because less scammy projects are making announcement threads here.


Scamfari report system looks very easy to abuse with fake reports (you create another Telegram account and then just make bs conversation using new wallet that you created just for that purpose and if i learned something so far is that if something can be abused for personal gain, it most certainly will.