Stories

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, Scam

Cancelled my purchase order, but simple-btc kept my money anyway.

I wanted to purchase about $300 worth of Bitcoins through a service called simple-btc. I setted up an account, connected my bank information and sent a request to purchase $300 worth of Bitcoin. But then I changed my mind and cancelled the transaction a few minutes after because I wanted to do it on a different exchange. To my horrible luck, I checked my bank account and realized that $300 were still gone!

I immediately rushed to get on the simple-btc website but it was down!

But since I used PayPal to make the purchase, I contacted them. They looked into the situation and said that simple-btc never canceled my transaction!

It’s ridiculous, pretty much the site fooled me into thinking that it was canceled and then went down completely!

PayPal sided with seller, they still consider Bitcoin as magic internet money. All my money went down the drain. I have no idea why I didn’t just use a reputable exchange or something.

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Cryptocurrency, Scam

Losers disgustingly trying to scare Bitcoin hodlers with the Hurricane Irma tragedy.

Following the damage caused by Hurricane Irma, I got an email from Athena Bitcoin, yay, another blockchain phishing attempt. The email is pretty ridiculous, can’t even believe someone has the gal to try and pull a scam like this.

So, the email from blockchain.info mentioned something about the company’s servers in Tampa Bay, Florida, being damaged by the hurricane. And in order to prevent total data loss, a backup server will be set up, however, there is a risk that it may go offline and all the wallet and crypto data may be lost in limbo. However, the blockchain has servers all over the country, but, only those who had their wallets and keys stored on the Tampa server will be affected.

The email requested an immediate transfer of bitcoin address and holdings to another one provided in the email. The email also tried to scare users like me into transferring funds to the address provided by stating that if the backup server goes down, the organization will carry no responsibility as per the funds and information already stored. Thankfully, I didn’t send any information to the wallet info contained in the email. However, my roommate did, but he ended up losing about a hundred bucks. No biggie I guess, but everyone should remain vigilant in the chaos following Hurricane Irma, especially cryptocurrency aficionados!

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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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Cryptocurrency, Horror Story

Use 2-Factor Authentication, Not SMS Code, for Coinsbank cards

My friend told me to check out Reddit and a couple of forums to find an exchange service that I liked. I wasn’t too familiar with cryptocurrencies and whatever. For some reason, I decided to go with Coinsbank. I looked at their website, it was clean and has a nice design. The authentication process was pretty headache free, and everything seemed pretty secure. For about two weeks everything was working fine, the security authentications that I had set in place as well as the login text message code worked all the time.

At one point in time I decided to buy their card, it was about $100.

I transferred $100 to my Coinsbank account for that specific card. After making the transfer, I’m barred from logging in to my account, for some reason my verification processes isn’t working and I’m not getting a text message login verification code anymore. I tried to contact their support service. I soon realized that there wasn’t any contact information anywhere on the site, not even a single info. No email, no terms and no conditions. So, after I sent Coinsbank some money, I was unable to log in to my account, but when I make a new account, their website and text message verification system seems to work fine.

Coinsbank started encouraging its users to enable 2-factor authentication in order to login properly. But my predicament didn’t change because I still needed to login to enable it and I don’t have that option anymore. I don’t really know what to do now. Guess I’m out of $100…

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Cryptocurrency, Horror Story

Coinbase misled me and never filed for my wire return

I use my business account for cryptocurrency investment purposes. I also frequented Coinbase to satisfy all of my trading needs. Recently, I made a wire transfer from my business account to Coinbase, the sum was quite large. However, I got an email from Coinbase referring to suspicious activity.

Apparently, the wire transfer I sent didn’t match the name of my account on their platform.

Keep in mind that I have done this before a few times and have never run in to any problems before. Previous wire transfers involved significantly more funds as well too, so, I am still kind of shocked as to the fact that I ran into problems with this transfer.

Coinbase notified me that the wire transfer would be returned to the bank account.  

A few days go by and I decide to visit my local bank and ask about the return wire transfer. The teller tells me that they didn’t receive anything and that it’s quite odd that it’s taking so long. The teller actually told me that Coinbase never filed for a wire return. I went through the whole shindig of writing to their support team, and communicating with their support team. No solid answers, nothing of value from their support team. I’m trying to draw more attention to my situation and have even gone on twitter to talk about it. Still nothing, hopefully I get my money back. This is just insane.

 

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