Re: [ANN] Tangerine (Ex-Mandarin) - Democratic Cryptocurrency Exchange

It's certainly looking bad then. There is hardly any project that goes completely silent if it actually serious intentions about turning their roadmap into reality. Have they ever showed their faces?

Not only they are absolutely silent, from time to time one of them deletes any critical messages in the chat box at the exchange. They are just buying more time to hide themselves and the money. As for faces, they may be fakes, and the CEO remained completely unknown.

One question then is how well did they do their job in hiding their identity throughout the whole time they ran this project? And did they actually scam you guys?

Looks like they did pretty well. There were investors, some of them mentioned buying tokens during the ICO in this thread. Personally I did not invest, I only participated in their signature campaign for some time, of which I now regret.

There is a group in crypto that pulls off a lot of scams I think. They know how to do it without get caught. The only thing to fight back is inform people about the threats and get some better verification processes for devs who want to launch a project.

Maybe. There is a possibility that this scam was well planned. The account used to create this thread and now abandoned was rather old (maybe bought). The exchange is dead. They won enough time to cover their traces and disappeared.

They waited for enough people to deposit funds on their exchange I guess. It reminds me a little bit of CryptoDao if you remember / know that exchange? Stopped operating out of a sudden and a lot of people deposited funds there because there was one special ICO exclusively launching on their platform. I guess it was part of their strategy.

Fortunately, I've missed CryptoDao. I'm not sure the Tangerine scammers initially planned to open their "exchange" and collect the deposits. There was a long delay before the launch and the "exchange" looks so primitive and unprofessional that there were probably very few deposits there. But, as far as I've heard, it is impossible to withdraw anything from there, so it is an additional layer of the scam.

So did they ask the community for an ICO or how did they "fund" the "development" of their exchange? What's the actual scam here about and how much was presumably lost? CryptoDao was fully operational but very slow and pretty bad. As I said, this one exclusive ICO obviously convinced some people to deposit funds over there.