Horror Story

Cryptocurrency, Horror Story

btc-e falsifies reasons to lock your account and steal your bitcoins.

I was banned by btc-e for absolutely no reason at all. I asked the support team why they banned my account and they couldn’t give me a good reason. All they said is that my account was banned because it was spamming links in their chat box that contained a virus. They never showed me any proof. No link, no screenshot. They eventually stopped responding to my support tickets as well and half of the time they spoke to me in Russian when they did respond.

What bugs me the most is that I can’t pull out the funds I have on my account, but I can still make purchases… Like come on really? What adds fuel to the flame is that the ban is forever set so you can’t use the chat features, withdraw cash or coins.

I didn’t stop though, I kept trying to contact them every day and I threaten to file a lawsuit against them.

Finally after a month of constant hounding and about twenty support tickets, they remove the ban and I immediately withdrew all my money.

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Cryptocurrency, Horror Story

This is how you can actually earn from bitcoin doublers… most of the time.

I like to go on the bitcoin doubler websites (they’re scams, don’t try it) and reverse-scam them (the owners). I would pretend to be a greedy smuck that’s new to bitcoin and do reverse-psychology on them. Asking a bunch of questions and acting all skeptical about it. I would tell them that I would do small little transaction to build trust first, before making a big deposit.

And so I would make small little transactions and grab the interests and never come back.

I took a little break from doing this, however, this past weekend I found an interesting site to hit. I did a quick check on them, looked at their reviews and was ready to outwit them. Being experienced at this, I confidently sent the site some BTC, a little over 100 dollars worth. Guess what! They just took the funds and ignored me. Lol, guess I got what was coming to me. I knew my stint would backfire eventually… Oh well.

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Cryptocurrency, Horror Story

Nitrogen Sports made the error, but I’m the one paying for it.

I really enjoy sports betting, and the Mayweather-McGregor fight was the perfect opportunity to raise some BTC by betting. I generally use Nitrogen Sports to make my bet. Well, I put my money on Mayweather noting that they would go over 9.5 rounds. I made my withdrawal without any issues. I then made another small deposit online and made some earnings on that deposit as well.

Later I tried to pull out my funds, but the platform wouldn’t let me do it. They took all of my funds and gave me negative an account balance.

I ended up figuring out that they backpedaled on their rules and changed it. They deemed the fight as being less than the ruled 9.5 rounds. Ridiculous. They changed their rules AFTER settling on the bets and distributing funds.

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Cryptocurrency, Horror Story

It took forever to get the money Cex.io owed me that I owed to someone else.

Long story kind of short, I ended up owing a lot of money to a certain individual, but this person didn’t mind getting paid in crypto. I already had an account set up on Coinbase, but I reached my buying limit over there so I used Cex.io instead (it was kind of trusted I suppose). I set up a transfer for five thousand dollars to Cex.io. I thought that the money would have been available immediately, but it wasn’t. I was super worried so I contacted their support system immediately.

The guys at Cex.io told me that transfer take about two weeks. Well, lo and behold, two weeks fly by and my funds are still nowhere to be seen.

The guy I owed money to started pressuring me a little bit because he was low on cash himself. I tried messaging their service over and over again, it’s been almost two months now and I haven’t gotten my crypto, and, my money has already been taken out of my bank account. All Cex.io did was escalate my ticket.

I have gotten numerous messages from Cex.io following that escalation, each one letting me know that my situation is being escalated even further.

I tried opening new support tickets but those get closed almost immediately by Cex.io. The other support guys keep telling me that my issue has already been escalated. I thought I was going to be out five grand. I had to borrow money from a friend to pay back the money I owed to the first guy since it took too long. Then I spoke to my bank and they told me that I should probably contact my local authorities and I did. Luckily, they had a guy on the team that specialized in this type of stuff and I was finally able to get my money back from Cex.io.

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Cryptocurrency, Horror Story

Eric Grill sells used and damaged bitcoin ATM hardware

My friend and I wanted to set up and operate a BTM (bitcoin teller machine). We found a guy named Eric Grill from a private Bitcoin community I was apart of. Supposedly he sells the necessary hardware to setup the machine properly.

We contacted him to buy some equipment using BTC. We did the transaction and the guy sent us the equipment. It went pretty fast.

But after that, he went cold turkey and stopped messaging us. We got the equipment, but it came full of scratches, dented, without any instructions, guides, user manuals, setup procedures or backend access to program it and get it running. He said that everything should be there which made us kind of flustered. The guy continued to give us absolute shit replies that led to nowhere and only confused us. Finally, we asked if we could send back the equipment for at least a partial refund.

Nothing. No answer.

Pretty much my buddy and I burnt a huge chunk of our capital on a piece of garbage even before the start of our business venture. You have been warned. Don’t buy shit from Eric Grill. I don’t understand how somebody can have the nerve to be such a scumbag and still plaster their face everywhere.

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Cryptocurrency, Horror Story

Belfrics has incredible low rates for its scam exchange.

I became immediately interested in Bitcoin when it popped on the news and the price went over $1,500. I started studying all of the technical aspects of it: trading methodologies, transaction rates, exchange guidelines and etc… So, I considered myself to be pretty experienced in day-trading cryptocurrencies by now. I slowly and steadily built up my bitcoin savings when the dollar exchange rate was still low.

I’m from an impoverished country and I really needed to make some money for my family. We were in desperate need of it, barely scraping by.

I found that Belfrics had awesome rates. So, I transferred all of my assets to Belfrics in order to sell them. I tried over and over again, but I couldn’t sell any of them. I decided to ditch Belfrics and pull all of my crypto out. The website gave me a confirmation that my coins have been transferred, however, I did not received anything on my other wallet.

Tech support tells me that it’s a glitch and that the funds will be delivered and the whole situation will be resolved soon.

Waited for a few days, no news, no funds, nothing. Their tech support told me that my account was faulty and that they unverified it. I asked them for a record of the withdrawal and transfer transactions. To which they sent me a record of my initial deposit on their site. It’s been about 5 months now, and my funds are still on the Belfrics site, I feel like I’m going crazy and have no idea as to what I should do!

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Cryptocurrency, Horror Story

Betcoin doesn’t pay their affiliates.

I have been affiliate marketing for a little while now for Betcoin.ag (introducing new players and etc). For some reason, Betcoin recently banned all of my whales and forced them to make new accounts so that I wouldn’t get any commission. Kind of stunned by this to be entirely honest. I have a friend, who uses Betcoin quite a lot, sometimes wagering even up to 100k in a month.

He was banned by Betcoin on accusations that he was actually me. He contacted their support service, and they told him that if word got out about this ordeal, he wouldn’t be allowed to bet on Betcoin anymore.

I really don’t understand how they could have confused me with a friend of mine who lives in another state?

I created a huge commotion with them through their support service. I wasn’t going to let it go. I was definitely going to get to the bottom of this.

Why I didn’t get any of the money for referring the high rollers to their website?

We finally ended up settling on a pitiful amount that was less than half of the total that they owed me. I felt really betrayed and offended by Betcoin. I urge nobody to work with them because the same thing could happen to you.

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Cryptocurrency, Horror Story

Coinmama is way too inexperience to handle real money

I recently purchased over two thousand dollars worth of btc with my credit card via Coinmama. The payment was processed, but I never received my btc and my order was still being “processed” for hours.

I reached out to Coinmama customer service and they told me that they would definitely check on the issue.

Haven’t heard back from them yet, and don’t have any new btc on my wallet. Sent them even more emails, no reply. I then contacted their payment system Simplex and I got an answer stating that my payment was being verified and it would take a little bit of time, like two days. Say what?

I get a customer service email after two days stating that my payment has not been verified and that the team is working hard to resolve my issue.

After reading about other people’s feedback on the same issue with Coinmama and Simplex, I went to my own bank for advice. They advised me to contact Coinmama and cancel the btc order so that I wouldn’t lose any money.

Fortunately they did, and my funds are now safe in my bank.

However, some people weren’t so lucky and ended up losing their btc and money.  To be honest, this whole situation seemed to be that Coinmama is just way too inexperience rather than some kind of payment fraud. I had to went through some unnecessary, legacy banking system procedures to get this done. There is absolute no coordination nor communication between Coinmama and Simplex.

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Cryptocurrency, Horror Story

Genesis mining subscription plans are overpriced and a ripoff

I’m sure every crypto-enthusiast has heard of cloud mining. Honestly, I saw it as a great opportunity to make some cash without too much headache. Well guess what, I got a ton of headache from cloud mining.

I got hooked up with a platform called Genesis mining that supposedly sold lifetime subscription contracts to cloud mining.

They aren’t really life time subscriptions.

The plan costs about $150 upfront, and it allows you to mine a small sum of bitcoins totaling about $20-30 a month (not counting the transaction fees that the platform takes). Well, I realized that the concept of bitcoin mining is becoming more and more competitive. Which means that returns on investment will be less and less as time goes on. Currently, it would take about 6 months to make a return on a $150 investment, definitely not worth it in my opinion.

You won’t even know if they are really selling hashing power to you in the first place. They could just be deceiving you and giving a small amount of money to be claimed as “profits” from the so call “cloud mining”, but actually nothing was done. They just credited your account with a few bucks.

Pretty much the user contracts will become so unprofitable that people will pretty much cancel themselves and they get to run away with all the BTC investment. And guess what? They won’t owe a single refund and no one will get any of their money back. It’s a win-win for them.

So pretty much this platform is selling cloud based mining contracts that they know will never make any money.

Ultimately users will eventually get discouraged and abandon the platform while Genesis gets to end up keeping all of the money from subscription plans without actually doing anything.

This is a warning for you guys. Don’t be a fool like I was and throw money at cloud mining. And definitely, definitely do your due diligence and research.

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