GEMMA devs SCAMMED me and others, it's owners are liars.

[SumYungGai]

What happened: Failed to honor their 90 days promise for token swap

Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=2652886

Reference Link: https://i.ibb.co/0yWv8WcQ/GEMMA-Proof.png

Amount Scammed: I don't know the exact value, it was a few million GEMMA/GMA

Payment Method: N/A

Proof of Payment: N/A

PM/Chat Logs: I was banned from their server but can request my Discord history if needed

Additional Notes: See below for full context








Official post said we had 90 days from Aug 11th to swap our coins to the new tokens, proof:
https://i.ibb.co/J1CYVf6/7255-A529-44-EF-4-FF5-B3-F6-E620697-A5774.png

Went to exchange my tokens today which is roughly 49 days after that post and it is no longer possible. They have removed the ability to deposit GEMMA in order to trade for GMA per the post from THEIR OFFICIAL X account.

Went to their Discord support channel and not only were they non-apologetic but they insisted it was MY FAULT for not knowing about some "community poll" that was never posted to their official X account or anywhere that I saw in their official thread here on BitcoinTalk, but somehow it is my fault that I am sitting on completely useless coins, despite it still being mineable at several major pools and still being listed on Exbitron, which until today had a VERY healthy trade volume.

It's also apparently my fault for not knowing that they asked Exbitron to delist it several times (so they say). Not sure how I WOULD know that or why it's my responsibility to know that.

Bottom line, their official X account said we had 90 days from Aug 11th, that would be November 9th. Today is Sep 29, it has been 49 days since that official post and there was never another on their X that said they were changing the date.

They lied to me and there were others in the Discord support channel who also did not meet this unannounced deadline who showed up only to find that they were also scammed.

Avoid at all costs.

EDIT:

I forgot to mention why they are liars.

First, the obvious reason, they said we would have 90 days to exchange the coins to tokens then took away the ability LONG before the due date.

Second, they tried to tell me the post said "approximately 90 days" which it CLEARLY did not.

And last, they changed the date of when they were closing the ability to exchange our coins for tokens without announcing it on the official channels that their community follows (i.e. the X account where I learned of GEMMA to begin with and also the same X account where they announced we would have 90 days to make the exchange) which is a lie of omission.

[albon]

If they had announced on X that coin holders had 90 days, they should have adhered to this announcement. Also, if they changed the deadline, it would have been natural to announce it across all of the project's official channels, not just on Discord. They should also have updated the official announcement thread on the forum so everyone would be aware.

It's clear they did this to reduce the number of holders of the new coin and increase liquidity at the expense of the old one, which is a misleading act toward investors.

Based on that, I will tag their representative's account on the forum to serve as a clear warning to potential investors through a negative trust reference, which may act as a cautionary signal to prevent others from being misled in the future.

[SumYungGai]

It's clear they did this to reduce the number of holders of the new coin and increase liquidity at the expense of the old one, which is a misleading act toward investors.

Wow, I had not even considered that angle...

Thank you very much for your feedback and support on this.

[albon]

Wow, I had not even considered that angle...

Thank you very much for your feedback and support on this.

You're welcome, and thank you as well for sharing this warning with the crypto community so they can avoid investing in it.

May I ask, what was the value of the previous coins that you were unable to swap? Did you try opening a ticket on their Discord to see if they would help you? Did they ban you from their Discord?

Also, please, it would be helpful if you could follow the Scam Report Format below and include as many details as possible. You can edit your original post and attach it:

Code:

[b][color=black]What happened:: [/color][/b]

[b][color=black]Scammers Profile Link: [/color][/b]

[b][color=black]Reference Link: [/color][/b]
[b][color=black]Amount Scammed: [/color][/b]
[b][color=black]Payment Method: [/color][/b]
[b][color=black]Proof of Payment: [/color][/b]
[b][color=black]PM/Chat Logs: [/color][/b]
[b][color=black]Additional Notes: [/color][/b]

[SumYungGai]

You're welcome, and thank you as well for sharing this warning with the crypto community so they can avoid investing in it.

May I ask, what was the value of the previous coins that you were unable to swap? Did you try opening a ticket on their Discord to see if they would help you? Did they ban you from their Discord?

I'm honestly not sure what the total value would have been after conversion as I had not checked the price for the GMA token but up to that point I was keeping small amounts and selling a few million a day of the GEMMA on Exbitron which was making me about $1 or $2 a day which is why I went looking for their Discord last week when the price absolutely TANKED.

I couldn't find any news as to why and I thought I still had a couple more weeks left of mining before I NEEDED to make the swap but since the price had crashed HARD, I figured I would try to swap the couple of million coins I had saved for myself to see how the process worked exactly and how long it would take.

So I went to the appropriate channel on their discord to make the swap, entered the command as instructed on their X/Twitter post and received a "Currency not available yet" message or something along those lines. I checked their instructional video again from the X/Twitter post, determined I had done everything correctly and so I went to their Support channel.

In their support channel, I noticed the person directly above me had asked the same question I was about to ask about why the token swap wasn't working to which they had replied that the time had expired and they had closed the ability to swap.

Rather than asking the same question, I replied to their answer and told them that THEIR official X/Twitter post said that we had 90 days from Aug 11th to make the swap.

They replied they had taken a community vote to close the swap early. To which I told them that they had made no post on their X/Twitter account or on the forums to inform anyone and I said, "Thanks for screwing your community", to which they replied "It's been two months, you should have swapped them already, the post said APPROXIMATELY 90 days", to which I replied "No, it did NOT say approximately" and showed a screenshot of their post from Aug 11th proving so at which point they banned me.

I will update my original post now with the format you requested