In October there was an exit scam with oyster. Google should be able to ruin your day
In October there was an exit scam with oyster. Google should be able to ruin your day
You should read this to fully understand what happened: https://hackernoon.com/rogue-founder-commits-crypto-treason-embezzles-oyster-pearl-5fd330f3f756
On that note, is Kucoin planning on releasing the PRL at some later stage?
Sorry for your loss, here have some free coins that might be worth more than you lost in 2020.
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Haha I appreciate this, thank you.
I'd join the opq telegram. Questions are answered pretty regularly and Bill is putting out monthly updates. Someone in the telegram can link you Bills AMA and it should clear things up a bit.
Hahah I still got 18k shl, brought at 65 cent. It’s a gonner bro
It might be worth a couple bananas. But Its worthless, there was an exit scam
Well I have the same amount in PRL also, which totals up to $873 with current pricing... What do you mean exit scam?
How is there not a lot of people talking about this? What if someone had $20,000 in PRL? And what now? It's just vanished for them? I don't get it. This can't be legal. What would happen if I got a lawyer?
It was big news a few months ago. Anonymous Dev exit scams his coin. The rest of the team forked (or whatever) to Opacity. You should have the same amount of Opacity and that's the new coin.
.... But the amount of PRL I had transfered to Opacity now totals to $32... I used to have nearly $1k in PRL...
Be glad that it's worth anything at all.
Duuust in the wiiiind.
All we are is dust in the wind.
If you or anyone else figured out what to do to get our money back I am ready for action. I also lost thousands.
A lot of people used to have a lot more crypto. The market tanked, and this one unfortunately was basically a scam waiting to happen by the original developer "Bruno Block".
You can read more here: https://medium.com/@bill_26126/oyster-update-b813390ce10e
Yeah, it had dumped more than most coins.
The price of prl has dropped a lot too.
People had far more, especially devs.
It isn't, that's why there is a lawsuit between the former members of the PRL team and "Bruno".
There has been tons of people talking about it when it happened. It's old news. Yeah we basically all got screwed thanks to Bruno the head developer. That's why I'm just holding mine because Bruno said they're going to keep developing it. I don't know if that's what will happen but that's my plan.
Then they are a fool for not paying attention to the status of the project... PRL was a failure.
Fuck You honestly. It was a completely normal ico crypto project that turned into an illegal scam overnight and we still have no answers at all. Us PRL holders were completely innocent and there is no way anyone could have seen this coming.
Nope, all of the warning signs were there... People just chose to ignore them.
So-called "CEO" is hiding in Disguise & Nobody knows his identity? Red Flag.
Open Letter from Bruno published months ago lashing out at the PRL Community? Red Flag.
Unaddressed accusations of team dumping coins on the market? Red Flag.
CEO of PRL consistently acts like scum so they suddenly decide to bring in a suit wearing bobble-head to take his place? Red-Fuckin-Flag
This was far from a "normal" project, and there were several threads warning people to get out of this scum-led shitcoin many months ago before it was too late... Sure, only a few listened, but don't say there was no way that anyone could see this coming. The writing was right there on the wall.
If you’re trying to tell me that you saw the exit scam coming I don’t believe you. Red flags don’t mean “you’re gonna lose all your money”. This is crypto and these are start ups. I’ve been a part of start ups that have changed CEOs. Apple changed CEOs. Satoshi was anonymous. I didn’t hear anything about the team dumping so they must’ve done a good job covering that up. Bottom line is NOBODY did see this coming. Otherwise you can point me to a post where somebody says “Get out now, the CEO is going to exit scam and destroy the company”. Maybe there were red flags and people were wise to keep away, good for them. but there were also good things about the project too and there was reason to hold out hope for this. I understand what you’re saying but once again I say, red flags don’t mean exit scam.
https://www.reddit.com/r/Oyster/comments/8fa771/sorry_guys_im_out/
^ Many threads like this were popping up months ago. Some people acknowledged all of the warning signs and got the hell out... others refused to heed those warnings and got burned (I mean, look at the first reply).
Either way, the signs were still there.
Lol and how many start ups tanked to the detriment of their investors? How many failed companies for one Apple? You put money into a project, you focused on the upside ignoring the risks, well, you played you lose. But you’ll be happy to know that the team is suing “Bruno” and might get something out of it, because you won’t. I hope that’s a cheap lesson for you ...
You’re missing the point. The project didn’t tank. The company didn’t fail. This was a deliberate attack, a fraud, an illegal plot to destroy the company and ravage its investors. This isn’t a start up failing because of issues with management.
No man, you are missing the point. OP ignored the risks when investing and got screwed over. Same same as any other investment, but different because the risk of outright fraud is much more prevalent in crypto-land.
Saddest part is that he realised what happened months after it was public knowledge.
I would suggest OP take that home as a lesson (again, hopefully a cheap one), and in the future 1. carefully assess the risks before investing (does an anonymous CEO in a complete wild west ecosystem justify my expected upside?), 2. apply healthy skepticism towards said expected upside (does my personal basic understanding of maths, computer science, finance and digital marketing tells me that this is in fact a viable project that can actually a. be technically delivered and b. have market value) and 3. actually follow-up on investment rather than sit on it with the expectation to wake up rich one day.
OP failed on all three fronts:
Risks were clear
Project was in fact no viable
SFYL ensued
Honestly there were posts warning about this being sketchy and looking like a scam. Detailed post of all the red flags.
https://www.reddit.com/r/CryptoCurrency/comments/8q97xe/comment/e0i7m0v?st=JPOQ2ZOO&sh=8ec74c6a
This was posted a year ago almost and look at how much backlash he got from the community to pointing this out.
If you actually think it’s that crazy for people to have saw this coming that is crazy. Forget all the red flags brought up in that post I linked, people investing in cryptocurrency should understand by default the risk involved. These light coins are not regulated by anything. You just have to trust that the people in charge are legit.
If you think putting thousands of dollars in something like oyster is a smart decision than you’re just being ignorant.
Was it normal? The creator was anonymous. Always seemed weird to me, although the concept is good.
[deleted]
Aha okay. So you noticed that before the exit scam? Every investor reads and understands the entirety of the projects code? Nobody mentioned the director lock EVER.
I pulled my investment out of PRL long before Bruno exit scammed; and no I did not read the smart contract as this was not a long term investment for me. But as investors it is our responsibility to take notice of these things, especially if you're in it for the long haul because we don't have any of the protections investors do in the stock market.
Edit. Why the downvotes? What I'm saying should be common knowledge, especially when investing thousands of dollars. You can't afford not to do your due diligence.
Exactly.
You don't put $20k into something and then waltz back in 6 months later asking, "Wah happen?!" You should leave no stone unturned if you are putting down that type of capital into a project.
You mean Banano?
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Would gladly trade my SHL for Banano at this point. lolsob
Sounds reasonable.
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Thanks!