TRADESATOSHI SCAM: Denying users access to their BUZZcoins held on the exchange
While BUZZcoin was on requested maintenance awaiting a patch, Tradesatoshi announced the coin’s delisting without contacting the BUZZcoin team. They further announced that they would not update the BUZZcoin wallet before the delisting date on July 1st -effectively cutting off users from their funds & stealing their cryptocurrency. Several other coins have reported being affected with the same scam methods during the mass delisting of projects in recent weeks by Tradesatoshi.
BUZZcoin Version 3.2 released — Mandatory wallet update. You must update now! This is a fork. Please download the new wallet version from our website: https://www.buzzcoin.info/
On June 6th, 2019 BUZZcoin requested that all exchanges including Tradesatoshi put the BUZZcoin wallet under maintenance due to a needed patch for the v3.1.1 wallet.
Tradesatoshi did not reply to our request. Instead, on June 11th they posted a Twitter announcement that they will delist BUZZcoin. Our Team Leader Maxim Polyarniy responded immediately — asking on Twitter if Tradesatoshi will give users access to their coins before delisting.
To avoid responding to our team they blocked our accounts on the exchange as well as our accounts on Twitter.
It is apparent that the team holds the interest of the coin holders as a top priority & were taking a firm stand to ensure that users were able to withdraw. The above ticket was later branded by Tradesatoshi as a “threat” in a Twitter post.
After blocking correspondence access, Tradesatoshi changed their market warning on BUZZcoin to a fabricated scam warning:
Just 2 hours later they changed it again to this :
This is a common tactic that has been used on other projects, for example:
Clients of Tradesatoshi attempted to get replies using support tickets and received absurd answers such as this:
After receiving numerous reports from coinholders, the BUZZcoin team investigated Tradesatoshi’s recent dealings. At this time it was discovered that these scamming tactics are part of a well established practice by the Tradesatoshi Exchange. Other projects and their coin holders were being victimized in the same way.
Two hours after the wallet update was announced on all social media platforms, instead of updating their wallet Tradesatoshi posted the following request on Twitter, knowing that they had blocked our account:
Then they chose to write an article attempting to make it appear that BUZZcoin had acted incorrectly. Furthermore, they attempted to damage our reputation by implying that we had lied to our users that the update would be released soon.
Below are examples of other projects being put through the same scam:
2: https://hazelmagazine.blogspot.com/2019/06/warning-tradesatoshis-hong-kong-office.html?m=1
3: https://medium.com/@colossusxt/tradesatoshi-the-colossusxt-markets-dc14de42f9ea
4: https://twitter.com/IramDelCastillo/status/1141227175070314496
5:https://twitter.com/WhatsItMatter8/status/1141203182191882241
6:https://bitcointalk.org/index.php?topic=5118992.120
7: https://bitcointalk.org/index.php?topic=2890191.20
8: https://bitcointalk.org/index.php?topic=1691388.540
We recommend that anyone using Tradesatoshi withdraw his coins as soon as possible before they deactivate accounts and/or disable accounts citing faulty KYC. BUZZcoin Version 3.2 released — Mandatory wallet update. You must update now! This is a fork. Please download the new wallet version from our website: https://www.buzzcoin.info/
DO NOT USE TRADESATOSHI! The amount of scam reports is too large to dismiss, too many people have already lost access to their funds, & too many crypto projects have been negatively affected by Tradesatoshi shady tactics.
We have not ceased in trying to protect our loyal coin holders and would like to remind you again that exchanges should be used for trading only, not for storage of your coins.
Subscribe to Twitter or any of our social media to be notified of all urgent updates.
UPDATE: Tradesatoshi has postponed the delisting, moving the date from July 1, 2019 to a new date of July 8, 2019. Users are able to withdraw their coins until then.
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BUZZcoin™ is using blockchain technology to gather data from its BC-HMD™ (BUZZcoin Hive Mind Device) and BC-QMM™ (BUZZcoin Queen Middleware Masternodes) SmartHives Devices all over the planet with gathered on the BC-HMN™ (Hive Mind Network) the goal of reversing the bee depopulation. For more information about our project please see our Whitepaper at https://www.buzzcoin.info/wp.pdf
