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Author Topic: LTCGear.com SCAM - Enough is enough, lets get some info together  (Read 53867 times)
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January 25, 2015, 02:35:40 PM
 #121

So has ltcgear paid yet?

Nope.  Angry

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Danz0r77
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January 25, 2015, 06:58:50 PM
 #122

Pretty sure the "announcement" we're waiting for is going to be another long delay.

Hope I'm wrong but I'm still leaning towards the scam view at this point. He's done enough updates to calm the majority of the crowd down for another few weeks probably, which was worth a couple hours work on Friday.

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January 25, 2015, 07:37:20 PM
 #123

Pretty sure the "announcement" we're waiting for is going to be another long delay.

Hope I'm wrong but I'm still leaning towards the scam view at this point. He's done enough updates to calm the majority of the crowd down for another few weeks probably, which was worth a couple hours work on Friday.

I'm on the fence now, but you do make a very good point.  I think it's 50/50 right now ( as to what I think)

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January 25, 2015, 10:24:18 PM
 #124

but calm them down for what? no one is buying shares at ltcgear....at least not in volume to matter.

so why waste the time to bring back site?

if you were going to run; you'd just have run by now...don't bother w/covering his tracks; too late for that. if he's left a trail; stalling for a few weeks wouldn't do any good.
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January 25, 2015, 10:53:17 PM
 #125

but calm them down for what? no one is buying shares at ltcgear....at least not in volume to matter.

so why waste the time to bring back site?

if you were going to run; you'd just have run by now...don't bother w/covering his tracks; too late for that. if he's left a trail; stalling for a few weeks wouldn't do any good.

It's what I would do if I was going to scam this many people. The more time that goes by the less and less people give a shit. Eventually, it will become accepted that it's just over and there's nothing that can be done. I think he's pretty close to that point already... just gotta draw it out a few more weeks.

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January 26, 2015, 08:14:22 AM
 #126

http://ltcgear.com/farm-payments/the-news/



Quote
The news

Hi,

Some explanations:

As discovered recently, starting several months ago, a focused series of attacks were executed on computer infrastructure connecting ltcgear with its users (website, database, and various layers behind).
The attacks were at beginning masked behind legit website utilization.
The attacks results ranged from DOS (denial of service) to more serious; creating fake shares or orders, or hijacking payment addresses (both for orders and share payments).
The attacks generated issues with payments, new asic, management and multiplications.
The methods used were not public knowledge at the time attacks started.
As about perpetrators, basically they were four kinds:
A. Attackers which were interested to hijack payments (both for orders and shares) and possible other occult agenda
B. Attackers which were interested to sell cheap shares to website users or sell service of order completion for a percent of real order value
C. Users which bought means for adding themselves free shares or complete themselves orders without payment to ltcgear
D. Attackers which were simply interested in service denial (e.g. denying Friday payment by starting a service denial attack).

As about identifying class A attackers, as I already informed certain parties from community, a direct connection to database was established starting from IP 178.21.117.208 belonging to directvps.nl and address 1AeFq5RbXiY1vsRqZjcF7fVodCxXwmDcMX (along with many others) was planted in database for payments. 1AeFq5RbXiY1vsRqZjcF7fVodCxXwmDcMX aggregates large amount of coins and sends funds to address 1FsVcdeHbpvUVT3gjeuVR2ZSDnpcsJMsLL (owner can be determined with 100% certainity)
For those needing a tip, here’s an article
http://qntra.net/2014/12/virransom-the-latest-ransomware/

As about B and C type of attackers, ultimately users which benefited from such arrangements, once knowledge that they exist, were traceable.
As for example, it happened that an attacker injected in orders payment address pool a certain foreign address at a certain time, then next minute certain users came and placed big orders, all paid to foreign address until foreign address was removed, after which order frequency and value resumed regular trend.

Or there are users which placed 20 orders, but only paid one which had a previous planted foreign address. They kept generating orders waiting to see the address they knew will return coins to them.
Or simply, users were logged doing direct address injection and then paying to foreign address in order to get orders completed and shares added to account.

About D type, in case of regular DOS (DDOS or variants), it’s usually hard to get the perpetrators without help from authorities and process is long by itself.
In case of denial of service based by computer unauthorized access, attackers are easier to be identified.

As about measures to be taken; in class A, interested third parties were alerted.
As about B and C users, it was very uncomfortable to discover this sort behaviour, unauthorized computer access and modifications are very serious offences in all civilized world. It was even more uncomfortable to find some of this users pushing to get paid for their illegitimate shares via social engineering forums (forums were also used to sell and buy illegitimate shares or means to get them), e-mail or other public interfaces.
For the moment there is no final decisions, the measures will range from private actions to publishing list of users and alerting local authorities.
As for type D, the infrastructure will be fixed to mitigate those sorts of attacks.

As a note, there were attacks which moved beyond public infrastructure, but for the moment this won’t be detailed.

About legit payments

First of all, there was no way to perform payments once it was discovered that fake shares and orders were present in database (and backups) before database was cleaned.
Soon it was discovered, that there is no way to continue to pay weekly since the D class attacks simply interrupted each attempt of payment in December and January by generating various types of DOS.
The payments were moved to user balance and withdraw on demand. At this moment the payments are functional for a percent of users and will become functional gradually for entire database of legit users.
And one last thing it was no way to quantize and implement with database corrupted, shares have attached a maintenance tax which is paid “at the end of the year”. We are in the new year already so users will also find attached to account tax value and means to pay it.

The new ASIC

The new ASIC delivery date is now moved to February based on delays and issues induced by attackers.

Kind Regards,
Chris

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January 26, 2015, 09:28:21 AM
 #127

Only real news from this he will start to charge maintenance fee which should have been charged after year of ownership not after calendar year he is claiming now. Pretty pathetic.
http://web.archive.org/web/20141229225155/http://ltcgear.com/product/asic-share-3k0/

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January 26, 2015, 10:42:49 AM
 #128

Chris are you fucking kidding me? Making us pay tax on your fucking mining? Is this to shake off the weak hands just so they can forge this whole scam? Well let me tell you we are STILL looking for you and legal action will soon be determined
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January 26, 2015, 11:29:57 AM
 #129

Only real news from this he will start to charge maintenance fee which should have been charged after year of ownership not after calendar year he is claiming now. Pretty pathetic.
http://web.archive.org/web/20141229225155/http://ltcgear.com/product/asic-share-3k0/

Pretty clever I'd say. He can make one more big chunk of cash before ending the whole thing.

I imagine the tax will come online before any coin balances do  Cheesy

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January 26, 2015, 11:57:29 AM
 #130

by the way
With a maintenace fee of 5-20% of initial price, everyone should have paid that fee with the missing payments



Everyone should have paid 5 times that with the missing payments!

If he asks for tax payments before making any coin payouts to users then IMO it's a 100% confirmed scam.

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January 26, 2015, 06:54:35 PM
 #131

by the way
With a maintenace fee of 5-20% of initial price, everyone should have paid that fee with the missing payments



Everyone should have paid 5 times that with the missing payments!

If he asks for tax payments before making any coin payouts to users then IMO it's a 100% confirmed scam.
+1 (that's pure logic  Grin)

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January 26, 2015, 07:19:21 PM
 #132

by the way
With a maintenace fee of 5-20% of initial price, everyone should have paid that fee with the missing payments



Everyone should have paid 5 times that with the missing payments!

If he asks for tax payments before making any coin payouts to users then IMO it's a 100% confirmed scam.
+1 (that's pure logic  Grin)

Lol, not for some people!

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January 26, 2015, 07:44:08 PM
 #133

by the way
With a maintenace fee of 5-20% of initial price, everyone should have paid that fee with the missing payments



Everyone should have paid 5 times that with the missing payments!

If he asks for tax payments before making any coin payouts to users then IMO it's a 100% confirmed scam.
+1 (that's pure logic  Grin)

Lol, not for some people!
however as many went right away to cryptodouble when ltcgear started to delay the payout, I am not entirely surprised  Grin

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January 27, 2015, 04:54:14 AM
 #134

by the way
With a maintenace fee of 5-20% of initial price, everyone should have paid that fee with the missing payments



Everyone should have paid 5 times that with the missing payments!

If he asks for tax payments before making any coin payouts to users then IMO it's a 100% confirmed scam.

Yup very true.


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January 27, 2015, 10:49:42 AM
 #135

by the way
With a maintenace fee of 5-20% of initial price, everyone should have paid that fee with the missing payments



Everyone should have paid 5 times that with the missing payments!

If he asks for tax payments before making any coin payouts to users then IMO it's a 100% confirmed scam.

Yup very true.

It was a confirmed scam weeks ago. He is just fucking with us now for his own sick amusement!

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January 27, 2015, 01:56:15 PM
 #136

by the way
With a maintenace fee of 5-20% of initial price, everyone should have paid that fee with the missing payments



Everyone should have paid 5 times that with the missing payments!

If he asks for tax payments before making any coin payouts to users then IMO it's a 100% confirmed scam.

Yup very true.

It was a confirmed scam weeks ago. He is just fucking with us now for his own sick amusement!

Maybe to you and me, there are still so many users that believe they are going to be paid. So many users moaning about tax etc - they actually still think LTCGear is coming back.

Let's look at the facts..



Site was down for 4-5 weeks, what has been done in that time?

A withdraw button has been added to the site, a form for displaying pending / executed withdraws, a text widget showing some "pending" HTML and a few changes to the WordPress menu. This is a few hours work at most. Proof of that is that it all happened during one day (Friday 23rd Jan).

So far there is no evidence that ANYTHING AT ALL has been done other than the above.



What about the announcement?

When the site finally comes back up an announcement is posted saying another announcement will come over the weekend. It came at around 7:30AM GMT Monday morning, why it couldn't have been posted on Friday who knows? It also explains nothing about what has been done over the last 5/6 weeks. It is stated in the announcement that a percentage of users have functional payments. So far the evidence points to this being a straight out lie.

The other main point to come out of the announcement is that Chris will be taking more money from us somehow, the method as yet unknown.



What is happening now?

Nothing by the looks of it. Best hope is that maybe the tax will appear on Friday.



WAKE UP PEOPLE. YOUR MONEY IS GONE.
Chris is fucking with you!

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January 27, 2015, 02:17:07 PM
 #137

I love all the know-it-all morons on this site...

Great post. Thx.

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January 27, 2015, 04:34:35 PM
 #138

by the way
With a maintenace fee of 5-20% of initial price, everyone should have paid that fee with the missing payments



Everyone should have paid 5 times that with the missing payments!

If he asks for tax payments before making any coin payouts to users then IMO it's a 100% confirmed scam.

Yup very true.

It was a confirmed scam weeks ago. He is just fucking with us now for his own sick amusement!

Maybe to you and me, there are still so many users that believe they are going to be paid. So many users moaning about tax etc - they actually still think LTCGear is coming back.

Let's look at the facts..



Site was down for 4-5 weeks, what has been done in that time?

A withdraw button has been added to the site, a form for displaying pending / executed withdraws, a text widget showing some "pending" HTML and a few changes to the WordPress menu. This is a few hours work at most. Proof of that is that it all happened during one day (Friday 23rd Jan).

So far there is no evidence that ANYTHING AT ALL has been done other than the above.



What about the announcement?

When the site finally comes back up an announcement is posted saying another announcement will come over the weekend. It came at around 7:30AM GMT Monday morning, why it couldn't have been posted on Friday who knows? It also explains nothing about what has been done over the last 5/6 weeks. It is stated in the announcement that a percentage of users have functional payments. So far the evidence points to this being a straight out lie.

The other main point to come out of the announcement is that Chris will be taking more money from us somehow, the method as yet unknown.



What is happening now?

Nothing by the looks of it. Best hope is that maybe the tax will appear on Friday.



WAKE UP PEOPLE. YOUR MONEY IS GONE.
Chris is fucking with you!

If you know it is over why do you still dwell in this thread? And for that matter still log onto #ltcgear IRC?
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January 27, 2015, 04:40:46 PM
 #139

by the way
With a maintenace fee of 5-20% of initial price, everyone should have paid that fee with the missing payments



Everyone should have paid 5 times that with the missing payments!

If he asks for tax payments before making any coin payouts to users then IMO it's a 100% confirmed scam.

Yup very true.

It was a confirmed scam weeks ago. He is just fucking with us now for his own sick amusement!

Maybe to you and me, there are still so many users that believe they are going to be paid. So many users moaning about tax etc - they actually still think LTCGear is coming back.

Let's look at the facts..



Site was down for 4-5 weeks, what has been done in that time?

A withdraw button has been added to the site, a form for displaying pending / executed withdraws, a text widget showing some "pending" HTML and a few changes to the WordPress menu. This is a few hours work at most. Proof of that is that it all happened during one day (Friday 23rd Jan).

So far there is no evidence that ANYTHING AT ALL has been done other than the above.



What about the announcement?

When the site finally comes back up an announcement is posted saying another announcement will come over the weekend. It came at around 7:30AM GMT Monday morning, why it couldn't have been posted on Friday who knows? It also explains nothing about what has been done over the last 5/6 weeks. It is stated in the announcement that a percentage of users have functional payments. So far the evidence points to this being a straight out lie.

The other main point to come out of the announcement is that Chris will be taking more money from us somehow, the method as yet unknown.



What is happening now?

Nothing by the looks of it. Best hope is that maybe the tax will appear on Friday.



WAKE UP PEOPLE. YOUR MONEY IS GONE.
Chris is fucking with you!

If you know it is over why do you still dwell in this thread? And for that matter still log onto #ltcgear IRC?

I still want to follow it. See how it all pans out etc.

Plus.. maybe I'm totally wrong. I hope I am. The above is just my opinion.

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January 27, 2015, 06:08:24 PM
 #140

You simply can't sustain high payouts from cloud mining when the price of mined coins goes down. When individual mining becomes unprofitable cloud can't bend reality and still keep it going.
I don't think they are a scam, but it looks like they are buying time.

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