Bitcoin Abuse Database: 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s

Onefinex, BDV and Tinder scam: update

Posting for the people who got scammed since they don’t have enough karma. Written by u/moltke01 (and others):
TL;DR: scammers posing as hot girls on Tinder and other online dating apps getting men to invest in shady crypto currency. Once invested, the exchange and currency both get taken down and the money gets lost.
Here's my story plus knowledge gathered from another victim.
So the tinder part of the scam seemed innocent enough with a long "get to know each other" period prior to the COVID lockdown, before any talk about crypto came up
Read this if you haven't already because it's a good summary of things - https://www.reddit.com/CryptoCurrency/comments/gok1ud/scam_warning_onefinex_and_bdv_coin_scam_via_tinde
And then read this one too, posted by another victim of the scam - https://www.signal-arnaques.com/en/scam/view/236089
Recently, Onefinex was taken down for maintenance the day before they were supposed to ICO the BDV coin. Instead of an ICO, I was offered an exit strategy by the girl who explained she had just got herself out of it safely. She would connect me with an institutional investor who wanted to buy entire accounts so they could take Onefinex to court for fraud
Of course there's a fee I paid for this professional service to one of her business associates, but it was a way out so I took it. Considering I had 84x'd my initial investment I figured okay this is worth paying for so I can keep my gains (I turned $700 into $63,000 so... 90x?)
The buyer was paying me in BTC but would only pay on the Dlexcoin.com exchange because that's where his BTC was so I made an account there. Anyway I was going to transfer directly to Coinbase as soon as I had the BTC so what does it matter?
So I received a bunch of Bitcoin in my Dlexcoin wallet address but when I went to withdraw the Bitcoin from Dlexcoin to Coinbase, nothing happened. Doublecheck everything for the transaction including the 2FA I just set up and nothing happened again. I kept getting an error code called "Method" so I emailed customer service and nothing...
I'm later told by the girl that "because money laundering" I can't transfer my BTC outside of Dlexcoin until I first meet a deposit threshold. And if I want the exchange to help me then I also have to bribe an admin like she did.
Well that's enough! That's where I finally got off the CryptoTinder train.
Now again, I'm a total newb to crypto and someone just turned me onto https://www.blockchain.com/explorer where I can see that my Onefinex and Dlexcoin wallets are empty. Pretty cool research tool but I wish I knew about it earlier! As soon as my BTC went in, it was transferred out just as fast, even though the exchange says its still in the exchange wallet
Additionally, the higher account security like a transaction password & 2FA that I set up was worthless. It must be that their exchange only creates the illusion that you are in control of your wallets when actually you're not, and that your accounts show balances they want you to see when they're actually empty.
So in the end, I can only conclude that the only real money in this game was mine. Everything else was smoke and mirrors. The girl's contributions, the BDV gains, the buyer's BTC, all of it faked.
The girl + BDV + Onefinex + Dlexcoin +DLTS = it's all a scam. In research provided to me by another participant, these people are connected to some other scams which seem to pop up and run for 5-6 months before shutting down
onefinex.com dlexcoin.com e-capitaloption.com sabkaprofit.com ok-1.com http://rexbd.net/html/xerohyip/demo/index.html
What's most troubling about all this is they're getting better at this. They're writing these white papers and building entire exchanges, and their recent versions of these things are becoming more sophisticated. Along with their means of targeting. They're evolving their game and at some point they'll probably release something to the masses that looks legit even to experienced people...
And hey, warning! They're pushing a coin called DLTS now so buyers beware. If anyone knows about this then please post somewhere and link back to this article
submitted by Tooslowtoohappy to CryptoCurrency [link] [comments]

I stupidly lost ~$3000 in a crypto currency scam.

I stupidly lost ~$3000 in a crypto currency scam.
I am an idiot.
I was browsing Twitter and saw a post that appeared to be Elon Musk tweeting about a "New Years Crypto Party Giveaway". I navigated to the website in the tweet and it appeared that Elon Musk was giving away crypto and all you had to do was send in some crypto to verify your wallet address and they would send back what you sent plus up to double what you sent in back. In the moment everything looked legit to me and it seemed that there was a limited amount of time that this would last so I stupidly and frantically rushed to my CoinBase account and sent 0.4BTC or around $3000 USD. Immediately after I sent the money I got scared and regretted not doing more verification on my end to verify the giveaway. Low and behold after only a little digging it became very clear that I just got scammed.
Here was the tweet I saw: https://twitter.com/Eric77461769/status/1213122989480271877?s=20
The website in the tweet was https://muskfun.info/ and it appeared to redirect to a legit Medium Article by Elon Musk. I then clicked the Bitcoin giveaway link in the article and it took me here: https://muskfun.info/btc/
The final site I went to is where I was instructed to send the Bitcoin. It looked legit to me at the time and there was a live log of transactions. But had I looked just a little deeper I would have realized so many signs that this was a scam.

  1. I never checked Elon Musks Official Twitter Account to validate that he made this tweet. I just looked at the screenshot that someone else fabricated for this scam. Initially I was a little skeptical but figured I would checkout the website anyway. Elon has been known to do some crazy things.
  2. The URL took me to a convincing clone of a Medium Article with Elon Musk as the author but it was actually not a redirect as the URL still said https://muskfun.info/ which in its self is a suspicious website name that should have tipped me off. All the comments were raving about how this worked but they were obviously doctored as well.
  3. The final website was the same as the Medium article except it had /btc at the end.
  4. Countless other things I should have noticed but did not.
I'm upset that I lost my money but I could have lost a lot more. I'm mostly just embarrassed. I'm a Software Developer at a large tech company and even used to work at Geek Squad so I am very familiar with these kind of scams. I never thought something like this would happen to me because I consider myself very tech savvy consumer.
I did some Google searching to see if there was any way for me to get my money back through any legal means or by reporting fraud to Coinbase but as I guessed with Crytpo you are pretty much out of luck.
Thanks for listening to my story. Feel free to laugh at my expense. Learn from my mistake. If anyone knows how to give this scammer payback feel free to let me know how!

EDIT: Here is the log of my transaction: https://www.blockchain.com/btc/tx/e806b41205e82452768d1bd7fded2b7e2cfdcd976e469daf07d7a8520f98a930

https://preview.redd.it/psdm7o4s0m841.png?width=1241&format=png&auto=webp&s=aeeff0a2794734deee537072ec8468cb7b879396
submitted by SigmaInigma to Bitcoin [link] [comments]

Spreading Crypto: In Search of the Killer Application

Spreading Crypto: In Search of the Killer Application
This is the second post of our Spreading Crypto series where we take a deep dive into what it’ll take to help this technology reach broader adoption.
Mick exploring the state of apps in crypto
Our previous post explored the history of protocols and how they only become widely adopted when a compelling application makes them more accessible and easier to use.
Crypto will be no different. Blockchain technology today is mostly all low-level protocols. As with the numerous protocols that came before, these new, decentralized protocols need killer applications.
So, how’s that going? Where is crypto’s killer application? What’s the state of application development within our industry? Today we’ll try to answer those questions. We’ll also take a close look at decentralized applications — as that’s where a lot of the developer energy and focus currently is. Let’s dive in.

Popular Crypto Applications

The most popular crypto applications today are exchanges like Coinbase and Binance — each with tens of millions of users. Other popular crypto exchanges include Kraken, Bitstamp, Gemini, and Bitfinex. In recent years, new derivatives platforms have emerged like FTX and Deribit.
The most popular crypto applications today are primarily focused on trading, speculation, and finance. This class of applications dwarfs all other types of applications in terms of users and growth. That’s either a sign of strong product/market fit, or we just haven’t yet discovered other good use-cases. Or a mix of both.
https://preview.redd.it/8rnxghfrdh551.png?width=1600&format=png&auto=webp&s=b3df8c3d87410f6b84432df79528ee4324daf04d
Beyond the fact that the most popular crypto applications are all used for speculation, another common thread is that they are all centralized.
A centralized application means that ultimate power and control rests with a centralized party (the company who built it). For example, if Coinbase or Binance wants to block you from withdrawing your funds for whatever reason (maybe for suspicious activity or fraud), they can do that. They have control of their servers so they have control of your funds.
Most popular applications that we all use daily are centralized (Netflix, Facebook, Youtube, etc). That’s the standard for modern, world-class applications today.

Decentralized Applications

Even though the most popular crypto applications are all centralized, most of the developer energy and focus in our industry is with decentralized applications (dApps) and non-custodial products.
These are products where only the user can touch or move funds. Not even the company or developer who built the application can access or control or stop funds from being moved. Only the user has control.
These applications allow users to truly become their own bank and have absolute control of their money.
They also allow users to perform blockchain transactions and interact directly with decentralized protocols. Some of the most popular non-custodial products include Ledger, MetaMask, and MyCrypto (#ProudInvestor).
While the benefits of this type of application are obvious (user has full control of their funds), it comes with a lot of tradeoffs. We will cover that later in this post.
https://preview.redd.it/rs6tj7vsdh551.png?width=1600&format=png&auto=webp&s=86fe5bca3a9466abab5e78c9873ce3b57609f2d2

Libertarianism + Crypto

If the most popular applications tend to be centralized (inside and out of crypto), why is so much of our community focused on building decentralized applications (dApps)? For the casual observer, that’s a reasonable, valid question.
“Not your keys, not your coins.”
This meme is endlessly repeated among longtime crypto hodlers. If you’re not in complete control of your crypto (i.e. using non-custodial wallets or dApps), then it’s not really your crypto.
Engrained in the early culture of Bitcoin has always been a strong distrust for centralized authority and power — including the too-big-to-fail government-backed financial system. In the midst of the Financial Crisis, Satoshi Nakamoto included this headline in Bitcoin’s genesis block: “Chancellor on brink of second bailout for banks.” There has always been a close connection between libertarianism & cryptocurrency.
So it’s no surprise that much of the crypto developer community is spending their time building applications that are non-custodial or decentralized. It’s part of the DNA, the soul, the essence of our community.
https://preview.redd.it/fy33zhkvdh551.png?width=1600&format=png&auto=webp&s=386c741f13e9119ecfcfffe1c781d09ce58704ed

Personal Experience

When I was at Mainframe, we built Mainframe OS — a platform that developers use to build and launch decentralized applications (dApps). I’m deeply familiar with what’s possible and what’s not in the world of dApps. I have the battle scars and gray hair to prove it. We’ve hosted panels around the various challenges. We’ve even produced videos poking fun at how complicated it is for end-users to interact with.
After having spent three years in the trenches of this non-custodial world, I no longer believe that decentralized applications are capable of bringing crypto to the masses.
While I totally understand and appreciate the ethos of self-sovereignty, independence, and liberty… I think it’s a terrible mistake that as a community we are spending most of our time in this area of application development. Decentralized applications will not take crypto to the masses.
Mainframe OS

Overwhelming Friction

The user friction that comes with decentralized applications is just too overwhelming. Let’s go through a few of the bigger points:
  1. Knowledge & Education: Most non-custodial products do not abstract away any of the blockchain complexity. In fact, they often expose more of it because the most loyal users are crypto nerds. Imagine how a normie n00b feels when she starts seeing words like seed phrases, public & private keys, gas limits, transaction fees, blockchain explorers, hex addresses, and confirmation times. There is a lot for a user to learn and become educated on. That’s friction. The learning curve on this is just too damn high.
  2. User Experience: It is currently impossible to create a smooth and performant user experience in non-custodial wallets or decentralized applications. Any interaction that requires a blockchain transaction will feel sluggish and slow. We built a messaging app on Ethereum and presented it at DevCon3 in Cancun. The technical constraints of blockchain technology were crushing to the user experience. We simply couldn’t create the real-time, modern messaging experience that users have come to expect from similar apps like Slack or WhatsApp. Until blockchains are closer in speed to web servers (which will be difficult given their decentralized nature), dApps will never be able to create the smooth user experience that the masses expect.
  3. Loss of Funds Risk: There is no “Forgot Password” functionality when storing your own crypto in a non-custodial wallet. There is no customer support agent you can ping. There is no company behind it that can make you whole if you make a mistake and lose your money. You are on your own. One wrong move and your money is all gone. If you lose your private key, there is no way to recover your funds. This just isn’t the type of customer support experience people want or are used to.
Onyx Messaging App

What Our Industry Has Wrong

Decentralized applications will always have a place in the market — especially among the most hardcore crypto people and parts of the world where these tools are essential. I’m personally an active user of many non-custodial products. I’m a blockchain early-adopter, I like to hold my own money, and I’m very forgiving of suboptimal UX.
However, I’m not afraid to say the poop stinks. Decentralized applications simply cannot produce the type of product experience that mainstream consumers expect.
If the goal is growth and adoption, as a community I believe we’re barking up the wrong tree. We are trying to make fetch happen. It isn’t gonna happen. Our Netscape Moment is unlikely to arrive as long as we’re focused on decentralized applications.
\"Mean Girls\" movie
There’s a reason why the most popular consumer applications are centralized (Spotify, Amazon, Instagram, etc). There’s a reason why the most popular crypto applications are centralized (Coinbase, Binance, etc).
The frameworks, tooling, infrastructure, and services to support these modern, centralized applications are mature and well-established. It’s easier to build apps that are fast & performant. It’s easier to launch apps that are convenient and on all form-factors (especially mobile). It’s easier to distribute and promote via all the major app store channels (iOS/Android). It’s easier to patch, update, and upgrade. It’s easier to experiment and iterate.
It’s easier to design, build, and launch a world-class application when it is centralized! It is why we’ve chosen this path for Genesis Block.
---
Other Ways to Consume This Content:
We have a lot more content coming. Be sure to follow our channels: https://genesisblock.com/follow/
Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
submitted by mickhagen to genesisblockhq [link] [comments]

Bull Bitcoin’s Dollar-Cost Averaging tool for Canadians: a detailed overview

Hello fellow Canadian Bitcoiners!
I'm Francis Pouliot, CEO and founder of Bull Bitcoin (previously known as Bitcoin Outlet) and Bylls.
I haven't been active on Reddit for a while but I thought I'd pop back here to let the community know about our new dollar-cost averaging feature, "Recurring Buy"
This post is a copy of my most recent medium article which you can read here if you want to see the screenshots. https://medium.com/bull-bitcoin/bull-bitcoins-dollar-cost-averaging-tool-for-canadians-the-right-time-to-buy-bitcoin-is-every-day-82a992ca22c1
Thanks in advance for any feedback and suggestions!
[Post starts here]
The Bull Bitcoin team is constantly trying to reduce the frictions ordinary people face when investing in Bitcoin and propose innovative features which ensure our users follow Bitcoin best practices and minimize their risks.
We are particularly excited and proud about our latest feature: an automated Bitcoin dollar-cost averaging tool which we dubbed “Recurring Buy”.
The Recurring Buy feature lets Bull Bitcoin users create an automated schedule that will buy Bitcoin every day using the funds in their account balance and send the Bitcoin directly to their Bitcoin wallet straight away.
We put a lot of thought in the implementation details and striking the right trade-offs for a simple and elegant solution. Our hope is that it will become a standard other Bitcoin exchanges will emulate for the benefit of their users. This standard will certainly evolve over time as we accumulate feedback and operational experience.
In this article, I cover:
The problem that we are trying to solve
Recurring Buy feature details, processes and instructions
The rationale (and tradeoffs) behind the main feature design choices
Bull Bitcoin is only available to Canadians, but non-Canadians that wish to have a look at how it works are welcome to make a Bull Bitcoin account and check out how it works here. You will be able to go through the process of create the schedule for testing purposes, but you wont be able to fund your account and actually purchase Bitcoin.
What problems does Dollar-Cost Averaging solve?
The most common concern of Bitcoin investors is, not surprisingly, “when is the right time to buy Bitcoin?”. Bitcoin is indeed a very volatile asset. A quick glance at a Bitcoin price chart shows there are without a doubt “worse times” and “better times” to invest in Bitcoin. But is that the same as the “right” time?
Gurus, analysts and journalists continuously offer their theories explaining what affects the Bitcoin price, supported by fancy trading charts and geopolitical analysis, further reinforcing the false notion that it is possible to predict the price of Bitcoin.
Newbies are constantly bombarded with mainstream media headlines of spectacular gains and devastating losses. For some, this grows into an irresistible temptation to get rich quick. Others become crippled with the fear of becoming “the sucker” on which early adopters dump their bags.
Veterans are haunted by past Bitcoin purchases which were quickly followed by a crash in the price. “I should have waited to buy the dip…”
Many Bitcoin veterans and long-term investors often shrug off the question of when is the right time to buy with the philosophy: “just hodl”. But even those holding until their death will recognize that buying more Bitcoin for the same price is a better outcome.
Given the very high daily volatility of Bitcoin, a hodler can find himself in many years having significantly less wealth just because he once bought Bitcoin on a Monday instead of a Wednesday. His options are either to leave it up to chance or make an attempt to “time the market” and “buy the dip”, which can turn into a stressful trading obsession, irrational decisions (which have a negative impact on budget, income and expenses) and severe psychological trauma. In addition, trying to “buy the dip” is often synonymous to keeping large amounts of fiat on an exchange to be ready for “when the time comes”.
There must be a better way.
Bitcoin investors should be rewarded for having understood Bitcoin’s long-term value proposition early on, for having taken the risk to invest accordingly and for having followed best practices. Not for being lucky.
Overview of features and rules
In this section I go into every detail of the Recurring Buy feature. In the following section, I focus on explaining why we chose this particular user experience.
The user first decides his target investment amount. Ideally, this is a monthly budget or yearly budget he allocates to investing in Bitcoin based on his projected income and expenses.
The user then chooses either the duration of the Recurring Buy schedule or the daily purchase amount. The longer the better.
The frequency is each day and cannot be modified.
The user must submit a Bitcoin address before activating a Recurring Buy schedule. By default, every transaction will be sent to that Bitcoin address. It’s the fallback address in case they don’t provide multiple addresses later.
Once the user has filled the form with target amount, the duration and the Bitcoin address, he can activate the Recurring Buy Schedule.
The user is not required to already have funds in his account balance to activate the schedule.
We will randomly select a time of day at which his transaction will be processed (every hour, so 24 possible times). If the user insists on another time of day, he can cancel his Recurring Buy schedule and try again.


The Recurring Buy feature as displayed on bullbitcoin.com/recurring-buys
The schedule is then displayed to the user, showing the time and date at which transactions that will take place in the future. The user will be able to see how long his current balance will last.
He can follow the progress of the dollar-cost averaging schedule, monitor in real time his average acquisition cost, and audit each transaction individually.
At this point, the user can and should change the Bitcoin address of his next transactions to avoid address re-use. Address re-use is not forbidden