Current Events > Crypto coin founder of Oyster Exit Scams, steals $300,000.

(+) Yeah! (+)

https://www.ccn.com/oyster-protocol-founder-exit-scams-steals-300000-from-ico-smart-contract/

Yesterday William Cordes, CEO of Oyster, announced that some events of extreme intrigue had taken place at the hands of the projects original designer, Bruno Block. According to Cordes, Block was able to use a function within the Oyster smart contract a function which he insisted must remain in the live code to make himself director and thus mint new crypto tokens, at least 3 million, which he subsequently moved to KuCoin and sold to the tune of at least $300,000.

The bitcoin address associated with the withdrawals from KuCoin has received much more than $300,000 in BTC. Over the course of 22 deposits, the address garnered more than 70 BTC (over $400,000), all on the same day. It is unclear where the coins went from there, but its safe to presume that the exit scammer has made attempts to realize his gains in a more transmittable way say paper cash. The post on the subject makes clear that investor tokens are safe, but it, unfortunately, doesnt account for the fact that the overall value of the tokens has been diluted by the arbitrary creation of millions of new tokens for the single purpose of fraudulent enrichment. Oyster also promises to try and make the traders on KuCoin people who unknowingly bought fraudulent coins whole.

I did not realize this happened so often.
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Just checked their subreddit and they say they were doing insider trading as well. Wow crypto investing seems depressing with all these scams and the people getting away with it.

https://www.reddit.com/r/Oyster/comments/9sycmf/honest_discussion_about_brunos_allegations_of/
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i've never heard of oyster. sucks to suck.
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bump
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Well, that's what you get for investing in shitcoins.

crypto is really dying huh
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As long as suckers exists, crypto will live
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sucks for the 4 people that have heard of this coin
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Makes sense. Half of crypto is for illegal or nefarious transactions, and the other half is people trying to use it to scam money and hide from taxes. The whole, "crypto is the next google and it's going to liberate us from the banks and give the money back to the common man" shtick is total spin bought and paid for by the few people who got in on the ground floor. I'd expect to see a few more of these scams before the market completely falls back into the underground.

I thought this was about oyster cards
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teepan95 posted...

I thought this was about oyster cards

... for everything else, there's oyster cards!

Dash_Harber posted...

teepan95 posted...

I thought this was about oyster cards

... for everything else, there's oyster cards!

Oyster cards are how the majority of Londoners get around on public transport
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Anyone that is intelligent to stop for a second will realize bitcoin is a Ponzi scheme.