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Topic
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Merits 10 from 5 users
Re: YOBIT SCAMMERS: Here Is The Email Bait Used For Scamming Users
by
o_e_l_e_o
on 19/01/2020, 20:36:51 UTC
⭐ Merited by LoyceV (4) ,Foxpup (2) ,marlboroza (2) ,JollyGood (1) ,pooya87 (1)
they are offering/baiting users to invest in schemes that will see the value of the investments to sink while the Bitcoin and other crypto used to purchase them will remain profitable and that is no investment it is a scam.
Let's take the X10 scam as an example, since it was the one which was shilled on here.

This "token" has no blockchain, has no smart contract, can't be withdrawn or deposited, and doesn't exist outside of YoBit. It was created out of nothing by YoBit to be traded only on YoBit. It was launched on December 19th, with ridiculous claims of being "100% safe". YoBit created and sold 68.7 BTC worth of tokens, generating around half a million dollars of pure profit for YoBit:


After creating this scam out of nothing and having it bought up rapidly, YoBit then simply ignore it. Early buyers dump on later ones, and YoBit continue to create tokens out of thin air to pay the "10% interest" in a worthless non-token which you can't do anything with. The result being we now have bag holders stacking up sell order upon sell order, with no idiots left to buy:


Don't worry though, users here will tell you, it's definitely not a scam. Everyone who invested is getting their 10% more X10 a day, and their tokens are 100% safe! They are certainly right about that last point - the tokens can't be stolen since they don't actually exist in the first place.

With the scam complete and a nice half-million profit, YoBit can simply rinse and repeat with the next made up token.