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Savedroid Says ‘Exit Scam’ Stunt is Lesson to Crypto Community

38 points by greyfox 8y ago

nathanaldensr 8y ago
Perhaps this was a real scam initially, then he decided to pretend it wasn't, after-the-fact, to save his skin? It seems to me that leaving a shadow of a doubt as to his trustworthiness was a big, big mistake. Couldn't he have just presented the hypothetical to the community openly if that were his true goal?
- 2RTZZSro 8y ago
  Maybe he woke up when he realized he will be killed by the mob of vigilantes that will stop at nothing until he is found. Your life perspective might change when you suddenly have 10,000 people out to kill you.
  - paulie_a 8y ago
    While that would be a nice movie it will not actually happen ever in reality. I think this a trope people like to believe, vigilante justice. But let's be honest, its not happening by some crypto currency investors.
    - toufka 8y ago
      Ummm, what about last December: https://thehackernews.com/2017/12/crypto-exchange-kidnap.html?m=1 https://thehackernews.com/2017/12/crypto-exchange-kidnap.htm...
      - icebraining 8y ago
        Why would the kidnappers be cryptoinvestors? Most likely they are a regular gang that happens to know what Bitcoins are.
      - paulie_a 8y ago
        The russian mob kidnapped someone for extortion, that isn't exactly vigilante justice.
  - 6nf 8y ago
    4chan people found his family within hours and started calling with death threats.
    - justboxing 8y ago
      Source?
      - oxide 8y ago
        If no one archived it, and the board is relatively active, its probably gone.
- jboles 8y ago
  Yeah, when's the last time a bank, or indeed any other credible financial institution, did this? Does not inspire confidence at all.
- everdev 8y ago
  If it wasn't, I hope he documented it somewhere or let some friends in on the secret. If he has no paper trail that this was always a stunt, I don't see his explanation working too well. I hope he offers his investments back to those who want it.
  - tonyma 8y ago
    They've made a video for this https://www.youtube.com/watch?v=CyAllUhDxXk&feature=youtu.be https://www.youtube.com/watch?v=CyAllUhDxXk&feature=youtu.be
- justboxing 8y ago
  > Couldn't he have just presented the hypothetical to the community openly if that were his true goal? What? And leave 50 Million $ of easy money on the table? Like Lord Zuckerberg famously re-quoted in the early days of Facebook.... "There's a sucker born everyday."
lightedman 8y ago
He came right back after a bunch of people on Twitter ripped his photo post apart and found out he was hiding in Northern Egypt (Egyptian beer in photo, northern-facing desert coastline which Germany does not have, etc.)
908087 8y ago
Was this shitcoin on exchanges aleady? If so, maybe the shitcoin headmaster in this case decided to change his plans from full on exit scam to massive dump and pump.
JumpCrisscross 8y ago
> even we as a highly-regulated German stock corporation What is this drivel?
everdev 8y ago
Fraud: "wrongful or criminal deception intended to result in financial or personal gain." I'm not a lawyer, but I don't think you can pretend to commit a crime without consequence. If he does generate publicity, it could be considered financial or personal gain. And the deception does seem wrongful, even if it was for a day. Also, there are laws against this kind of thing to prevent people from attempting a crime and then saying "I was just kidding. I wanted to make it look real so you'd know what it felt like if I actually did it." In the US, suing for emotional distress in this scenario would be a slam dunk I'd imagine. More than that though, who wants to work or do business with someone who thinks this is a good idea.
- deleted 8y ago
  [deleted]
dpiers 8y ago
I am eagerly awaiting the third act in this saga, where it is revealed that the whole exit scam/"PR stunt" was a misdirection and the real scam is uncovered.
- borplk 8y ago
  Now they can ride the "if we were not legit we would have actually done the scam thing but we didn't so we are legit" wave for a while.
geraldbauer 8y ago
FYI: I've put together a little summary with commentary in the Get Rich Quick "Business Blockchain" Bible (Free Online) - The Secrets of Free Easy Money with a Fast Exit Case Study thanks to Savedroid - https://github.com/openblockchains/get-rich-quick-bible https://github.com/openblockchains/get-rich-quick-bible Buyer Beware.
walrus01 8y ago
It's possible to be both factually correct ("it would have been really easy to scam you people!") and also an asshole simultaneously. The two are not guaranteed mutually exclusive.
FullyFunctional 8y ago
I can't be the only one expecting to read a story about crypto (you know, encryption etc) rather another boing bitcoin story. Sigh.

38 points by greyfox 8y ago

Perhaps this was a real scam initially, then he decided to pretend it wasn't, after-the-fact, to save his skin? It seems to me that leaving a shadow of a doubt as to his trustworthiness was a big, big mistake. Couldn't he have just presented the hypothetical to the community openly if that were his true goal?

2RTZZSro 8y ago
Maybe he woke up when he realized he will be killed by the mob of vigilantes that will stop at nothing until he is found. Your life perspective might change when you suddenly have 10,000 people out to kill you.
- paulie_a 8y ago
  While that would be a nice movie it will not actually happen ever in reality. I think this a trope people like to believe, vigilante justice. But let's be honest, its not happening by some crypto currency investors.
  - toufka 8y ago
    Ummm, what about last December: https://thehackernews.com/2017/12/crypto-exchange-kidnap.html?m=1 https://thehackernews.com/2017/12/crypto-exchange-kidnap.htm...
    - icebraining 8y ago
      Why would the kidnappers be cryptoinvestors? Most likely they are a regular gang that happens to know what Bitcoins are.
    - paulie_a 8y ago
      The russian mob kidnapped someone for extortion, that isn't exactly vigilante justice.
- 6nf 8y ago
  4chan people found his family within hours and started calling with death threats.
  - justboxing 8y ago
    Source?
    - oxide 8y ago
      If no one archived it, and the board is relatively active, its probably gone.
jboles 8y ago
Yeah, when's the last time a bank, or indeed any other credible financial institution, did this? Does not inspire confidence at all.
everdev 8y ago
If it wasn't, I hope he documented it somewhere or let some friends in on the secret. If he has no paper trail that this was always a stunt, I don't see his explanation working too well. I hope he offers his investments back to those who want it.
- tonyma 8y ago
  They've made a video for this https://www.youtube.com/watch?v=CyAllUhDxXk&feature=youtu.be https://www.youtube.com/watch?v=CyAllUhDxXk&feature=youtu.be
justboxing 8y ago
> Couldn't he have just presented the hypothetical to the community openly if that were his true goal? What? And leave 50 Million $ of easy money on the table? Like Lord Zuckerberg famously re-quoted in the early days of Facebook.... "There's a sucker born everyday."

lightedman 8y ago

He came right back after a bunch of people on Twitter ripped his photo post apart and found out he was hiding in Northern Egypt (Egyptian beer in photo, northern-facing desert coastline which Germany does not have, etc.)

908087 8y ago

Was this shitcoin on exchanges aleady? If so, maybe the shitcoin headmaster in this case decided to change his plans from full on exit scam to massive dump and pump.

JumpCrisscross 8y ago

> even we as a highly-regulated German stock corporation What is this drivel?

everdev 8y ago

Fraud: "wrongful or criminal deception intended to result in financial or personal gain." I'm not a lawyer, but I don't think you can pretend to commit a crime without consequence. If he does generate publicity, it could be considered financial or personal gain. And the deception does seem wrongful, even if it was for a day. Also, there are laws against this kind of thing to prevent people from attempting a crime and then saying "I was just kidding. I wanted to make it look real so you'd know what it felt like if I actually did it." In the US, suing for emotional distress in this scenario would be a slam dunk I'd imagine. More than that though, who wants to work or do business with someone who thinks this is a good idea.

deleted 8y ago
[deleted]

dpiers 8y ago

I am eagerly awaiting the third act in this saga, where it is revealed that the whole exit scam/"PR stunt" was a misdirection and the real scam is uncovered.

borplk 8y ago
Now they can ride the "if we were not legit we would have actually done the scam thing but we didn't so we are legit" wave for a while.

geraldbauer 8y ago

FYI: I've put together a little summary with commentary in the Get Rich Quick "Business Blockchain" Bible (Free Online) - The Secrets of Free Easy Money with a Fast Exit Case Study thanks to Savedroid - https://github.com/openblockchains/get-rich-quick-bible https://github.com/openblockchains/get-rich-quick-bible Buyer Beware.

walrus01 8y ago

It's possible to be both factually correct ("it would have been really easy to scam you people!") and also an asshole simultaneously. The two are not guaranteed mutually exclusive.

FullyFunctional 8y ago

I can't be the only one expecting to read a story about crypto (you know, encryption etc) rather another boing bitcoin story. Sigh.