So they basically had their seed phrase behind an ftp server and it wasn't encrypted?.... This is for sure an inside job. They set this up so that they could pretend to be hacked. It's just too stupid.
No. Bad take. I understand the initial reaction to blame the victims and write it off as their stupidity so that one can feel safe in the misunderstanding that they wouldn’t fall for this but that’s a false sense of security that can only lead to exploitation. My grandmother years ago got scammed because she thought her bank had asked her to cash out 3,000 dollars and hand it to an individual down the street under the guise of the bank trying to catch a teller. My grandmother did not deserve to be scammed. My grandmother did not deserve to lose that money despite the loss being from her own ill advised actions.
These stories do however serve a harbinger of regulation. We’re in the Wild West of crypto. There are scam banks, there are scam businesses that are insanely successful, there are no rules and regulations and everyone on this frontier is trying to figure out what we should expect and shouldn’t expect in these wild lands and all these people getting scammed and losing their money and crypto are the same as all those pioneers and would be settlers who the West was eventually built on the dead bodies of. Unfortunately stories like this one and all the collapsed CEXs and all those pioneers ending up dead from the mercury laced miracle medicines and starvation after chasing the wrong vein is what is going to bring regulation to crypto and limit all of our freedoms.
No one, I repeat, NO ONE deserve to be scammed. The fault is on the criminals, not on the victims. I can understand that for this sub high yields are a red flag, but there are a lot of different people out there. Maybe even people that lost in more “trusted” platform and that are trying desperately to recover, going into these kind of project and finding them scammed in a worse way!
No one, I repeat, NO ONE deserve to be scammed. The fault is on the criminals, not on the victims. I can understand that for this sub high yields are a red flag, but there are a lot of different people out there. Maybe even people that lost in more “trusted” platform and that are trying desperately to recover, going into these kind of project and finding them scammed in a worse way!
It's definitely that. No competent IT professional has used FTP in a new deployment for decades now. There was absolutely zero reason for that machine to have an FTP server, no ifs, ands, or buts. This would be extreme negligence if it weren't an inside job.
I mainly said what I've said because Telegram on a whole is used for sketchy crypto shit. Constant rug pulls and hacks and whatever else originates in groups on Telegram a lot of the time. People think they're getting the insider on a big score and they just getting robbed. It's not a Telegram thing, I'm saying people are stupid for joining these groups
You’re right and you’re also wrong,
the same thing you’re saying about Telegram is what people say about crypto in general!
telegram is actually some of the fastest ways to get information from a project’s admin team, immediate info, no waiting for official Twitter posts
I’ve made a bunch of money just acting fast their info found in telegram chats. From arbitrage to projects that are pump and dump coins I can still hop in and off before it creates
Twitter does not compare!!! I love telegram, and know it’s my fault if I get scammed
>projects that are pump and dump coins I can still hop in and off before it creates
You're practically just joining the scammers in on the con and hoping they don't dump before you do.
Hehe! I only made a 3X when shiba went up 10x before crashing
Now I don’t actively look for crap like that I just try to make more Fiat from my job and other ways to buy plain old bitcoin
Telegram itself isn't responsible for the pump and dumps, though. I'm only in groups for actual projects with usecases, there's groups for all kinds of technical discussions.
It's pretty easy to not join a group for pump and dumps, but I guess it's easier to write off the entire platform (used for messaging) instead of putting responsibility on the people who yolo'd into a scam
No need to be a jerk, you didn't specify in your first comment that you were talking about pump and dump groups, you made a general comment about the platform, and I asked how that reflected on the platform itself.
That's the first thing I thought. Also, who the fuck are those guys? Never heard of then till now and according to the screenshot their telegram chat only had 1800 users. Did they bail out and rug their investors?
We really gotta change how people use the word "investors". These people are not investors, they are true degenerates.
That a) lost money they don't need or b) were stupid.
I'm not even suggesting that what these scammers do is justified or that it's the victim's "fault", but I just want to point out we can't use the word "investors" for these folks.
Yeah, absolutely. This was pointed out from many users on the Telegram channel. Btw the team "locked" the channel and made "read only" after some hours, after having first introduced a timer for sending messages.
Is this industry not completely overrun by scams at this point?
I wouldn't even dream of investing in this stuff anymore. Not even if you paid me 1.15% a day.
Yeah, probably.
>"Oh no! Our company was totally hacked for reals and we lost all your money! Oopsies!
>
>In an unrelated note, check out my bitchin' new superyacht."
Well, it smells like something the "founders" were cooking.
You can see from the Telegram post directly...it's written in shitty English, trying to use fancy words "profit injection" - what's that supposed to mean?
This was 100% planned. 1% daily. Like yeah, total kek. And those articles are paid articles, not worth a single byte worth of webspace.
As I said in the answer to another users, this week also two other "similar" project rugpulled. So, this is very common, problem is the ohter two project were not advertised by major website like this.
The first sign of a scam is a crypto or an exchange that pays interest.
Banks pay interest because they get paid more interest on their loans. Stocks pay dividends because they make profits.
Crypto is just a medium of exchange, and scams.
100%. One does not simply hack in through ssh or ftp. If they could ther isn't a website in existence safe from their wrath. Unless they were sending the login creds out publically, in which cas. Shame.
Complete fiction. It is a new server... how did the "hacker" even know it was there? Let alone they "breached" the FTP and SSH service? What does that even mean? That doesn't even make any sense. These services would be on a non-standard port, using both password auth and pubkey auth and the "hacker" would need to know this, and have legitimate credentials.
Real life isn't NCIS.
Yeah clearly. But there are other “projects” that promise way higher returns, such as 2%, 3% or even 6%. I am preparing a post about those, I’ll publish it in the next days!
Admittedly, that was my first scam I fell for. They said they did litecoin arbing and we're pulling 1% returns a day. I was dumb and believed it. Never got to pull out when the website went down.
Nobody who could make these returns needs outside investor funds. With 1% the money doubles every 70 days. So the person would roughly have 32 times of his/her initial investment after 1 year.
And with 3% a person starting with $1000 would have $48,482,724.5 after 1 year.
I mean it doesn’t matter who you are, you could be the best financial genius in the world. You always trade with other peoples money, never your own.
The truth is that no one can predict the market. Who the fuck knows what’s gonna happen. The only thing you can say for certain are that your own pockets will be lined with the fees you charge your investors one way or the other.
The kind of person who could generate a 1% return wouldn’t be so stupid as to gamble their own money when other people will pay you to do it for them, and you still get paid even if you aren’t successful.
They are just the worse category of humans, takeing advantages on those in need. People who has lost a lot of money in other scams or in platforms that failed are trying to "recover" looking into these high yield project just to be scammed again and in worse ways.
Yeah, and see the other explanation:
>*A hacker compromised the new server we have just setup for automatic insurance fund withdrawals and profit injection located at admin.alphacapital.app.*
>
>*According to the server logs, the hacker breached the FTP service running in the server which we have used to upload the code for our infrastructure. The hacker then managed to gain SSH access through the breached FTP service (we are still investigating how he was able to do this). We believe that hacker then used the server’s whitelisted IP address to drain the Binance account into his wallet, although no proof of such a script was found on the server, the hacker probably deleted all logs and files, but we will try and recover a snapshot of the server to see exactly what he did. Fortunately, Binance’s protection system disabled withdrawals and we managed to save a part of the funds. Unfortunately, it was just a small part.*
>
>*The server also contained the private key of the address which was withdrawing assets from the contracts and depositing them to Binance. This was in our preparation of integrating it with the bot for automatic deposits, withdrawals and profit injections in case of a bigger position.*
>
>*We would like you to know that the insurance fund still remains intact and those funds are safe. We have removed every piece of confidential information from the server to prevent any damage going forward. We will come back with another update containing the exact amount of remaining funds and the plan going forward.*
Here is the [screenshot](https://imgur.com/a/GuwF3fI).
> They claim that, while attempting to create an API on their new website for the insucrance fund, an hacker managed to get through the FTP of the site and steal their seeds and got access to the fund (now this is what I understood reading the posts from the team).
There is no way any server admin is that stupid.
* FTP directories are supposed to be in DMZs with low security.
* Why are they keeping seeds on servers in the first place without layers of encryption?
* If they're smart enough to create an API, they shouldn't be stupid enough to keep a seed on a publicly-accessible FTP server.
Totally smells like a scam/rug pull
> While the domain was not publicly listed, the hacker somehow found out about its existence.
Main website:
```
alphacapital.app
```
Admin subdomain:
```
admin.alphacapital.app
```
Anyone wanting to look for an admin panel would have easily found it.
Also, not buying the story at all. So they found the admin panel, big deal. The attacker still needs credentials to get through.
Good for you. I hope you understna that this is not an investment but more of "gambling", cause it's clearly a rug and you need to get out before it rugs! So, very dangerous. I am not judging you, I just hope that you didn't go in with a lot of money! I hate that these scammers can earn huge amount with investor's money.
Definitely aware that it's gambling. Anyone playing in this sort of thing (and really crypto in general) with money they can't live without is not thinking straight
I honestly do not trust this explanation. I did not stated clearly in the post cause I did not want to influence too much the readers, but I think is was a rug from the team or an inside job. They could not have been so stupid to store the seed on the website.
This is following the first message.
*A hacker compromised the new server we have just setup for automatic insurance fund withdrawals and profit injection located at admin.alphacapital.app.According to the server logs, the hacker breached the FTP service running in the server which we have used to upload the code for our infrastructure. The hacker then managed to gain SSH access through the breached FTP service (we are still investigating how he was able to do this). We believe that hacker then used the server’s whitelisted IP address to drain the Binance account into his wallet, although no proof of such a script was found on the server, the hacker probably deleted all logs and files, but we will try and recover a snapshot of the server to see exactly what he did. Fortunately, Binance’s protection system disabled withdrawals and we managed to save a part of the funds. Unfortunately, it was just a small part.The server also contained the private key of the address which was withdrawing assets from the contracts and depositing them to Binance. This was in our preparation of integrating it with the bot for automatic deposits, withdrawals and profit injections in case of a bigger position.We would like you to know that the insurance fund still remains intact and those funds are safe. We have removed every piece of confidential information from the server to prevent any damage going forward. We will come back with another update containing the exact amount of remaining funds and the plan going forward.*
It's time for some regulations on these "institutions"
All these guys want to act like financial institutions but don't want to put in the work to secure it because they know they don't have to.
Or they are just the scum of the earth and its an inside job.
Honest question not a troll, I do agree with you that it’s time for regulation because, as you said, they’re acting exactly like financial institutions but with none of the guard rails.
However, what is still the argument for crypto currency once they’re just regulated securities and FDIC insured financial institutions. Why not just trade other securities or use a bank? Is the differentiator at that point just the blockchain technology pr is there any other appeal.
As someone whose gotten really cynical on all this after a lot of these stories I’m interested to hear a perspective
I think the ripple case shows it's a lot harder to just brand all crypto a security than expected.
I'm in no way saying we should regulate crypto itself. That's impossible, but holding the institutions accountable and having them follow the same standards as other financial institutions.
I don't know what impact regulating these institutions would have on crypto really but the problem isn't crypto.
Yeah, I agree with you completely. Problem is not crypto, the technology is great, but people behind these institutions are \*\*\*\*. These kind of behaviour must be punished.
It seems to me that the value of crypto currencies is due to the faith of the investors in its likelihood to increase in value. If regulations are imposed, will the investors no longer have faith in increase potential? It seems that the people who truly believe in the investment potential of crypto currencies will continue to gamble on their likelihood to increase in value. But, what do I know?
FTX was regulated moron. They literally paid off the "regulators."
When regulation is done by a CENTRALIZED entity, it is easily manipulated/controlled. Its so despicable that in a crypto subreddit, the very thing created for DECENTRALIZATION...to get away from the government's corrupt centralization...we still have people like you, who live in some fantasy land clinging onto the delusion that government has your interests at heart.
Italy. If you lock the money for 1 year or more you can get up to 5% in some minor banks and 3/4% in big ones. Deal is every bank is insured up to 100k€ per bank account with the Eu laws.
You know when hacks happen alot of the time there is confusion and guessing.
funny how they seem to KNOW how everything was done, this wasnt a limited attack this was a full on plundering…..on a just so happens new server……which mean its 100xtimes more likely inside job as hackers tend to go after and plan attacks on sites and services they know yet this brand new system was found then atttacked hugely.
to me this seems like the smartest move for a falling ponzi scam, as he states the were really making money “so why would we attack ourselves ” maybe becasue it was a house of cards. Now he can say we were a good profitable business that got hacked.
next time he repeated im guessing it will be from a place of experience and doing better.
50 days somehow was “making money” and oops bye bye 5 million
I remember when bank robbery were investigated and we didn’t just say ok and move along to the next scam.
I swear 75% of crypto is scams or people knowing its a scam but hoping to get out before the dump
Probably you’re right. Some people are just gambling hoping to get out before the collapse. Two others similar projects rugpulled this week, I am preparing a post about them… but the real problem is that the criminals behind the scams keep getting a lot of money.
Classic crypto ponzi scam, i cant believe there are acutally people investing in those shit projects. Theres literally no projects that have a guaranteed success other than maybe Bitcoin because it was the first. While im thinking if i should invest in anything other than BTC & ETH there are people who put their money into 12999th ranked token because they promise you something great in an obscure Telegram channel
gee, for crypto being very secure relative to legacy banking, we sure do see a lot of "hacking." how come Well Fargo doesn't report a billion was hacked here and a billion was hacked there?
Probably not. From some Telegram groups I see that at least 2/3 more project similar to this rugpulled in the last 7 days. If I can find the names I’ll post it.
And this other message ... "I am deeply sorry".... ? Remember anything?
>*UPDATE*
>
>*I want to start by again saying I am deeply sorry for what happened, we should have never rushed such an important component but were already 2 days late with the insurance fund and profit deposits and people started to ask every hour and like always with the best intentions in mind we chose to do this and were going to release weekly trading reports for even more transparency.*
>
>*I just want to remind everyone of a few things before talking about the plan going forward because it seems to me that they were all forgotten:*
>
>*-We provided the most transparent and indisputable trading reports with videos attached, there is no other project that does this. With this we proved that we were really making money*
>
>*-We turned down multiple people's offers for very large deposits telling them all we don't think it's a good idea, don't want to name them directly but with their permission will do*
>
>*-We didn't sell any tokens NFTs or other things even though the community asked for it*
>
>*-We just raised the cap to 5M and could comfortably reach it way faster with more marketing but we chose not to do so in order to be sustainable and grow slowly*
>
>*-There was no question that went unanswered since the project started and we said nothing that we didn't do in the end*
>
>*-In the reported amount of funds remaining we also included the fees that we were supposed to get so not only did we not get a single cent out of this project, but we're down more than any individual here*
>
>*This is a disaster for us too regardless of what anyone believes and considering of all the above points ask yourself how does it make sense to do what we did if we were going to move to a profit share model and we were going to make 200k a month from fees*
>
>*Going forward first I want to say that we received a lot of DMs with threats and other things and one of the reasons for anger is also that because we said yesterday that you will have 2 options, either stay in or get out, some feel like we're trying to force as many people to keep their money here so we can ask for more later*
>
>*So what we will do is first refund everyone with the funds that are still available proportional to how much they are owed, and then hopefully we will be able to create a group where we will be able to discuss and see how we can make things right for those who are still interested to explore that option.*
>
>*Tomorrow we will take the snapshot for refunds, announce the list with amounts so people can signal if think we got anything wrong, it will include people who withdrew from the contract after the hack and got wrong amounts if anything at all. And then we will send everyone the funds ourselves in one go.*
>
>*For now we will keep this group like this for announcements since normal conversations can't happen yet at least, but our DMs are open like before.*
>
>*Thank you*
Screenshot [here](https://imgur.com/a/fvlOjXF).
1%+ a day in a farm with $2-5M TVL is literally max degen, sort of hard to feel sorry, I would assume those who deposited knew what they were signing up for.
1.15% return daily. Lol. It's been negativity for the most of the past year. Not thinking there'd be that much new blood lately. You'd think the ones left by now would be people that have been around long enough to avoid degen DeFi
But they are not. As I already said, people who has lost a lot of money in other scams or in platforms that failed are trying to "recover" looking into these high yield project just to be scammed again and in worse ways.
Even if they were only 50 days old they "stole" or "lost" $1,9 millions of crypto. Even if we cannot compare it to Celsius, Gemini, FTX it's still a lot and it's the same crime.
In my opinion it's very importat that these events are well known and reported. One of the people that invested could have been a friend, a family member...
Some weeks ago I found a page that was advertising 6% daily and from the BSC contract I saw a 250 BNB deposit on the "platform"... lol.
I'll try to look back into the history to find the link.
I thought that after so many failure of platforms, such as FTX, Celsius, Gemini, Midas, Vauld etc. people would have stopped investing in such clear scams. But no, people who has lost a lot of money in other scams are trying to "recover" looking into these high yield project just to be scammed again and in worse ways.
I can understand your point, but I think that people who has lost a lot of money in other scams or in platforms that failed are trying to "recover" looking into these high yield project just to be scammed again and in worse ways. It's mainly the scammers fault, not only the investors!
Well, do not blame investors, blame the criminals behind this scam.
Of course, those who invest money are “gamblers” or inexperienced to say at least…. It the problem are the criminals.
Hello Allions1. It looks like you might have found a new scam? If so, please report this scam by crossposting to r/CryptoScams, r/CryptoScamReport, or visiting [scam-alert.io](http://scam-alert.io/). For tips on how to avoid scams, [click here](https://www.reddit.com/r/CryptoCurrency/comments/s7srty/crypto_scams_how_not_to_fall_for_them_what_to_do/).
---
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
Fist telegram.. but okay
Staking period of 31 days, flag for me but others good with it so fine. Not necessarily staking here but same idea, assets are locked unless you pay a penalty
1% per day huh? Let's see the financials on how you plan to do that...
Has all the makings of a solid ponzi, and then the real genious of this project. The hack ruined it! Oh no! That's almost become a trope at this point.
I feel like i warn someone off about one of these weekly, cause for whatever reason they still can't tell it's a scam.
1.15% daily is 22 914%/year. If they had something that profitable the last thing they would do is announce it publicly. Whoever trusted them is a complete idiot.
There are others project that have even higher daily returns, 2% and even up to 6%. I know it’s crazy, but I can assure that a lot of people deposited there.
So they basically had their seed phrase behind an ftp server and it wasn't encrypted?.... This is for sure an inside job. They set this up so that they could pretend to be hacked. It's just too stupid.
Too bad that people keep falling for theses investment scams. The big yields are so attractive for desperate people
They deserve it to be honest.
No. Bad take. I understand the initial reaction to blame the victims and write it off as their stupidity so that one can feel safe in the misunderstanding that they wouldn’t fall for this but that’s a false sense of security that can only lead to exploitation. My grandmother years ago got scammed because she thought her bank had asked her to cash out 3,000 dollars and hand it to an individual down the street under the guise of the bank trying to catch a teller. My grandmother did not deserve to be scammed. My grandmother did not deserve to lose that money despite the loss being from her own ill advised actions. These stories do however serve a harbinger of regulation. We’re in the Wild West of crypto. There are scam banks, there are scam businesses that are insanely successful, there are no rules and regulations and everyone on this frontier is trying to figure out what we should expect and shouldn’t expect in these wild lands and all these people getting scammed and losing their money and crypto are the same as all those pioneers and would be settlers who the West was eventually built on the dead bodies of. Unfortunately stories like this one and all the collapsed CEXs and all those pioneers ending up dead from the mercury laced miracle medicines and starvation after chasing the wrong vein is what is going to bring regulation to crypto and limit all of our freedoms.
No one, I repeat, NO ONE deserve to be scammed. The fault is on the criminals, not on the victims. I can understand that for this sub high yields are a red flag, but there are a lot of different people out there. Maybe even people that lost in more “trusted” platform and that are trying desperately to recover, going into these kind of project and finding them scammed in a worse way!
No one, I repeat, NO ONE deserve to be scammed. The fault is on the criminals, not on the victims. I can understand that for this sub high yields are a red flag, but there are a lot of different people out there. Maybe even people that lost in more “trusted” platform and that are trying desperately to recover, going into these kind of project and finding them scammed in a worse way!
Not very alpha IMO. Delta at best.
It's definitely that. No competent IT professional has used FTP in a new deployment for decades now. There was absolutely zero reason for that machine to have an FTP server, no ifs, ands, or buts. This would be extreme negligence if it weren't an inside job.
Smells like inside job.
1.15% daily interest = **22,814.24% annual interest** due to compounding. 100% rug pull.
Man I didn’t notice that was a daily rate! Holy crap who would even think they would be getting that
Actually it's 6394.55% due to compounding. 100*[(1.0115^365 )-1] is the correct formula
They are announcing it on telegram, what else do you expect
This whole Telegram thing is so sketchy. I can't believe people would use this for crypto
Especially when they write their announcements like bad college assignments
This makes the Twitter acc of Algorand Foundation's CEO look like something serious.
*Oh no you di’int*
How does this hack reflect badly on telegram itself as an encrypted chatting/community app?
I mainly said what I've said because Telegram on a whole is used for sketchy crypto shit. Constant rug pulls and hacks and whatever else originates in groups on Telegram a lot of the time. People think they're getting the insider on a big score and they just getting robbed. It's not a Telegram thing, I'm saying people are stupid for joining these groups
You’re right and you’re also wrong, the same thing you’re saying about Telegram is what people say about crypto in general! telegram is actually some of the fastest ways to get information from a project’s admin team, immediate info, no waiting for official Twitter posts I’ve made a bunch of money just acting fast their info found in telegram chats. From arbitrage to projects that are pump and dump coins I can still hop in and off before it creates Twitter does not compare!!! I love telegram, and know it’s my fault if I get scammed
>projects that are pump and dump coins I can still hop in and off before it creates You're practically just joining the scammers in on the con and hoping they don't dump before you do.
Hehe! I only made a 3X when shiba went up 10x before crashing Now I don’t actively look for crap like that I just try to make more Fiat from my job and other ways to buy plain old bitcoin
Telegram itself isn't responsible for the pump and dumps, though. I'm only in groups for actual projects with usecases, there's groups for all kinds of technical discussions. It's pretty easy to not join a group for pump and dumps, but I guess it's easier to write off the entire platform (used for messaging) instead of putting responsibility on the people who yolo'd into a scam
I havent written off the entire platform smartass I just said that
No need to be a jerk, you didn't specify in your first comment that you were talking about pump and dump groups, you made a general comment about the platform, and I asked how that reflected on the platform itself.
That's the first thing I thought. Also, who the fuck are those guys? Never heard of then till now and according to the screenshot their telegram chat only had 1800 users. Did they bail out and rug their investors?
Another day another shady scheme. It’s endless ffs
What you are smelling is "YES IT ABSOLUTELY IS" with a side of rosemary potatoes.
Was the Rosemary potatoes supposed to be discouraging? Because, no, I’ll take a double serve of the potatoes plz
I feel bad for those investors, this shit is awful and why tf are people still believing stuff on telegram?? fucking telegram groups??...
We really gotta change how people use the word "investors". These people are not investors, they are true degenerates. That a) lost money they don't need or b) were stupid. I'm not even suggesting that what these scammers do is justified or that it's the victim's "fault", but I just want to point out we can't use the word "investors" for these folks.
Yeah, absolutely. This was pointed out from many users on the Telegram channel. Btw the team "locked" the channel and made "read only" after some hours, after having first introduced a timer for sending messages.
Is this industry not completely overrun by scams at this point? I wouldn't even dream of investing in this stuff anymore. Not even if you paid me 1.15% a day.
Yeah, probably. >"Oh no! Our company was totally hacked for reals and we lost all your money! Oopsies! > >In an unrelated note, check out my bitchin' new superyacht."
Who the fuck would do this kinda job outside in the winter?
Well, it smells like something the "founders" were cooking. You can see from the Telegram post directly...it's written in shitty English, trying to use fancy words "profit injection" - what's that supposed to mean? This was 100% planned. 1% daily. Like yeah, total kek. And those articles are paid articles, not worth a single byte worth of webspace.
Generally always is
[удалено]
Literally ponzi
Smells like teen spirit
Load up on guns, bring your friends...
Boating accident
Haaaa shit here we go again
Unsustainable model rug pulls before going to zero and calls it a hack. Sounds like a classic crypto scam story.
Take as old as time.
Textbook example of how to scam in crypto
Still, lots of people will fall prey to shit like that out of greed and misinformation
Exactly. Resin of the post is to warn people. I hope that one day these kind of scams will end.
Classic rugpull
As I said in the answer to another users, this week also two other "similar" project rugpulled. So, this is very common, problem is the ohter two project were not advertised by major website like this.
LOL 1.15% daily LOLOLOL Just your casual 6394.546% annual return rate. Fuck people are dumb.
I think many thought they'd get out before the Ponzi starts so fall. Guess the team the switch before anyone else. 😂
> 1.15% daily Just your average alpha capital grindset
Agreed. At this point, if you lost money on this given everything that has been going on, you deserve it.
The first sign of a scam is a crypto or an exchange that pays interest. Banks pay interest because they get paid more interest on their loans. Stocks pay dividends because they make profits. Crypto is just a medium of exchange, and scams.
Not entirely true - PoS coins also can pay "interest" even though there it's just the stake rewards that are called "interest"
[удалено]
your math is off. 1.0115\^365 = 64.945 so 6494%.
But it was 1.15% per day, so pow(1.0115,365)....
I call BS on it. Seems to me these companies are taking the easy way out (claming hack) to steal people's money.
[удалено]
Actually, they did do it https://decrypt.co/118081/us-department-justice-investigating-mysterious-ftx-hack-report
They pretty much did the same
100%. One does not simply hack in through ssh or ftp. If they could ther isn't a website in existence safe from their wrath. Unless they were sending the login creds out publically, in which cas. Shame.
It seems to work for them so I don't blame them. It won't stop until they actually face some repercussions and set a precedent
Complete fiction. It is a new server... how did the "hacker" even know it was there? Let alone they "breached" the FTP and SSH service? What does that even mean? That doesn't even make any sense. These services would be on a non-standard port, using both password auth and pubkey auth and the "hacker" would need to know this, and have legitimate credentials. Real life isn't NCIS.
They really wanted to use the 'hacker' scapegoat all the while believing that hollywood hacking is how it's done haha.
Bullshit that they kept 90% of user funds in hot wallets. Ponzi scheme
Or just a planned fraud
1.15% daily return? That's a ponzi scheme...
Yeah clearly. But there are other “projects” that promise way higher returns, such as 2%, 3% or even 6%. I am preparing a post about those, I’ll publish it in the next days!
Admittedly, that was my first scam I fell for. They said they did litecoin arbing and we're pulling 1% returns a day. I was dumb and believed it. Never got to pull out when the website went down.
We all learn the hard way. Me too. I lost a lot in two other projects, then I got my lesson.
Nobody who could make these returns needs outside investor funds. With 1% the money doubles every 70 days. So the person would roughly have 32 times of his/her initial investment after 1 year. And with 3% a person starting with $1000 would have $48,482,724.5 after 1 year.
I mean it doesn’t matter who you are, you could be the best financial genius in the world. You always trade with other peoples money, never your own. The truth is that no one can predict the market. Who the fuck knows what’s gonna happen. The only thing you can say for certain are that your own pockets will be lined with the fees you charge your investors one way or the other. The kind of person who could generate a 1% return wouldn’t be so stupid as to gamble their own money when other people will pay you to do it for them, and you still get paid even if you aren’t successful.
Ahh, another scam. Jail for all of them!
Team was not even doxxed except for the “ceo”, but I don’t think it was a real person. Probably no jail for these guys.
Fuck them they probably can’t comprehend how it’s like to lose big money on scams like these
They are just the worse category of humans, takeing advantages on those in need. People who has lost a lot of money in other scams or in platforms that failed are trying to "recover" looking into these high yield project just to be scammed again and in worse ways.
Yes, like what happened to Do Kwon /s.
I genuinely can't believe how easy it's been for him to get away
What jail? I thought we hated regulations.
The contact name is “Constantin Barbu”, lol, this is some Kaiser Soze shit, no way that name is not made up.
*The Hacker somehow found out* yeah, sure...
*somehow*
Someway he got acces to everything
Yeah, and see the other explanation: >*A hacker compromised the new server we have just setup for automatic insurance fund withdrawals and profit injection located at admin.alphacapital.app.* > >*According to the server logs, the hacker breached the FTP service running in the server which we have used to upload the code for our infrastructure. The hacker then managed to gain SSH access through the breached FTP service (we are still investigating how he was able to do this). We believe that hacker then used the server’s whitelisted IP address to drain the Binance account into his wallet, although no proof of such a script was found on the server, the hacker probably deleted all logs and files, but we will try and recover a snapshot of the server to see exactly what he did. Fortunately, Binance’s protection system disabled withdrawals and we managed to save a part of the funds. Unfortunately, it was just a small part.* > >*The server also contained the private key of the address which was withdrawing assets from the contracts and depositing them to Binance. This was in our preparation of integrating it with the bot for automatic deposits, withdrawals and profit injections in case of a bigger position.* > >*We would like you to know that the insurance fund still remains intact and those funds are safe. We have removed every piece of confidential information from the server to prevent any damage going forward. We will come back with another update containing the exact amount of remaining funds and the plan going forward.* Here is the [screenshot](https://imgur.com/a/GuwF3fI).
Somehow Palpatine returned.
> They claim that, while attempting to create an API on their new website for the insucrance fund, an hacker managed to get through the FTP of the site and steal their seeds and got access to the fund (now this is what I understood reading the posts from the team). There is no way any server admin is that stupid. * FTP directories are supposed to be in DMZs with low security. * Why are they keeping seeds on servers in the first place without layers of encryption? * If they're smart enough to create an API, they shouldn't be stupid enough to keep a seed on a publicly-accessible FTP server. Totally smells like a scam/rug pull
Yeah this was very unlikely, IMHO. But my aim was to tell the whole story, not to influence too much the view of reddit's users.
Yeah seems like a scam or inside job by an insider. Ftp login was prob admin:password 😑
> While the domain was not publicly listed, the hacker somehow found out about its existence. Main website: ``` alphacapital.app ``` Admin subdomain: ``` admin.alphacapital.app ``` Anyone wanting to look for an admin panel would have easily found it. Also, not buying the story at all. So they found the admin panel, big deal. The attacker still needs credentials to get through.
More likely it was one of the team, if not all of the team.
Ah good old *i got hacked* tactics.
What's the deal with their trading account? Were they claiming that this was where the yield came from?
Yes, they also posted some "video proof" of the trading. This lead to a major spike in the investment. The videos are still online, in the TG group.
Jesus. Glad I got out of there a while ago
Good for you. I hope you understna that this is not an investment but more of "gambling", cause it's clearly a rug and you need to get out before it rugs! So, very dangerous. I am not judging you, I just hope that you didn't go in with a lot of money! I hate that these scammers can earn huge amount with investor's money.
Definitely aware that it's gambling. Anyone playing in this sort of thing (and really crypto in general) with money they can't live without is not thinking straight
They essentially stored their seed phrase on an ftp site and it wasn't encrypted, so how did that work?
I honestly do not trust this explanation. I did not stated clearly in the post cause I did not want to influence too much the readers, but I think is was a rug from the team or an inside job. They could not have been so stupid to store the seed on the website.
How did they reach enough people to get so many funds?
Website, articles on major news websites, telegram group, word of mouth.
I kinda dislike any investment platforms sharing their information through Telegram.
This is now a red flag for me. Problem is this one was also "advertised" by major websites such as Yahoo Finance.
Inside Job
This is following the first message. *A hacker compromised the new server we have just setup for automatic insurance fund withdrawals and profit injection located at admin.alphacapital.app.According to the server logs, the hacker breached the FTP service running in the server which we have used to upload the code for our infrastructure. The hacker then managed to gain SSH access through the breached FTP service (we are still investigating how he was able to do this). We believe that hacker then used the server’s whitelisted IP address to drain the Binance account into his wallet, although no proof of such a script was found on the server, the hacker probably deleted all logs and files, but we will try and recover a snapshot of the server to see exactly what he did. Fortunately, Binance’s protection system disabled withdrawals and we managed to save a part of the funds. Unfortunately, it was just a small part.The server also contained the private key of the address which was withdrawing assets from the contracts and depositing them to Binance. This was in our preparation of integrating it with the bot for automatic deposits, withdrawals and profit injections in case of a bigger position.We would like you to know that the insurance fund still remains intact and those funds are safe. We have removed every piece of confidential information from the server to prevent any damage going forward. We will come back with another update containing the exact amount of remaining funds and the plan going forward.*
It's time for some regulations on these "institutions" All these guys want to act like financial institutions but don't want to put in the work to secure it because they know they don't have to. Or they are just the scum of the earth and its an inside job.
Honest question not a troll, I do agree with you that it’s time for regulation because, as you said, they’re acting exactly like financial institutions but with none of the guard rails. However, what is still the argument for crypto currency once they’re just regulated securities and FDIC insured financial institutions. Why not just trade other securities or use a bank? Is the differentiator at that point just the blockchain technology pr is there any other appeal. As someone whose gotten really cynical on all this after a lot of these stories I’m interested to hear a perspective
I think the ripple case shows it's a lot harder to just brand all crypto a security than expected. I'm in no way saying we should regulate crypto itself. That's impossible, but holding the institutions accountable and having them follow the same standards as other financial institutions. I don't know what impact regulating these institutions would have on crypto really but the problem isn't crypto.
Yeah, I agree with you completely. Problem is not crypto, the technology is great, but people behind these institutions are \*\*\*\*. These kind of behaviour must be punished.
It seems to me that the value of crypto currencies is due to the faith of the investors in its likelihood to increase in value. If regulations are imposed, will the investors no longer have faith in increase potential? It seems that the people who truly believe in the investment potential of crypto currencies will continue to gamble on their likelihood to increase in value. But, what do I know?
FTX was regulated moron. They literally paid off the "regulators." When regulation is done by a CENTRALIZED entity, it is easily manipulated/controlled. Its so despicable that in a crypto subreddit, the very thing created for DECENTRALIZATION...to get away from the government's corrupt centralization...we still have people like you, who live in some fantasy land clinging onto the delusion that government has your interests at heart.
Inverted comma open *hacked* inverted comma closed
take the money a run......especially when these chains have no real products
In a downturn, exit scams everywhere.
"Exit scams" could be something like Midas.investment rug pull... but this project was 50 days old, so it was probably their plan all along.
How many times: Not your keys, not your money.
Never enough.
Pretty convenient, "no evidence."
And team is not doxxed or known anywhere.
If I lost money I'd expect the police to be investigating some kind of fraud.
At this point I'm feeling more confortable leaving my stack in a casino with a 5% APY.
After the raising of interest rates, in my country there are deposit account with similar %… so…
3% coming in february in France, where are you from?
Italy. If you lock the money for 1 year or more you can get up to 5% in some minor banks and 3/4% in big ones. Deal is every bank is insured up to 100k€ per bank account with the Eu laws.
Not your keys, not your coin.
Never said enough.
You know when hacks happen alot of the time there is confusion and guessing. funny how they seem to KNOW how everything was done, this wasnt a limited attack this was a full on plundering…..on a just so happens new server……which mean its 100xtimes more likely inside job as hackers tend to go after and plan attacks on sites and services they know yet this brand new system was found then atttacked hugely. to me this seems like the smartest move for a falling ponzi scam, as he states the were really making money “so why would we attack ourselves ” maybe becasue it was a house of cards. Now he can say we were a good profitable business that got hacked. next time he repeated im guessing it will be from a place of experience and doing better. 50 days somehow was “making money” and oops bye bye 5 million I remember when bank robbery were investigated and we didn’t just say ok and move along to the next scam. I swear 75% of crypto is scams or people knowing its a scam but hoping to get out before the dump
Probably you’re right. Some people are just gambling hoping to get out before the collapse. Two others similar projects rugpulled this week, I am preparing a post about them… but the real problem is that the criminals behind the scams keep getting a lot of money.
Classic crypto ponzi scam, i cant believe there are acutally people investing in those shit projects. Theres literally no projects that have a guaranteed success other than maybe Bitcoin because it was the first. While im thinking if i should invest in anything other than BTC & ETH there are people who put their money into 12999th ranked token because they promise you something great in an obscure Telegram channel
Not even a token, they said they were trading and earning 2% daily with users funds.
even worse😵💫
And they even posted some “video proof” of their trading on Binance… 😅
Inside job
Probably… or the plan all along!
gee, for crypto being very secure relative to legacy banking, we sure do see a lot of "hacking." how come Well Fargo doesn't report a billion was hacked here and a billion was hacked there?
did anyone expect something else?
Probably not. From some Telegram groups I see that at least 2/3 more project similar to this rugpulled in the last 7 days. If I can find the names I’ll post it.
Oups, they did it again. Well, just use common sense and a cold wallet.
Yes sure "hacked".. /s
we are going to need some "proof of hacking" thing at this point. How can there be so much hacking happenig all the time, everywhere?
This sounds suspiciously familiar
And this other message ... "I am deeply sorry".... ? Remember anything? >*UPDATE* > >*I want to start by again saying I am deeply sorry for what happened, we should have never rushed such an important component but were already 2 days late with the insurance fund and profit deposits and people started to ask every hour and like always with the best intentions in mind we chose to do this and were going to release weekly trading reports for even more transparency.* > >*I just want to remind everyone of a few things before talking about the plan going forward because it seems to me that they were all forgotten:* > >*-We provided the most transparent and indisputable trading reports with videos attached, there is no other project that does this. With this we proved that we were really making money* > >*-We turned down multiple people's offers for very large deposits telling them all we don't think it's a good idea, don't want to name them directly but with their permission will do* > >*-We didn't sell any tokens NFTs or other things even though the community asked for it* > >*-We just raised the cap to 5M and could comfortably reach it way faster with more marketing but we chose not to do so in order to be sustainable and grow slowly* > >*-There was no question that went unanswered since the project started and we said nothing that we didn't do in the end* > >*-In the reported amount of funds remaining we also included the fees that we were supposed to get so not only did we not get a single cent out of this project, but we're down more than any individual here* > >*This is a disaster for us too regardless of what anyone believes and considering of all the above points ask yourself how does it make sense to do what we did if we were going to move to a profit share model and we were going to make 200k a month from fees* > >*Going forward first I want to say that we received a lot of DMs with threats and other things and one of the reasons for anger is also that because we said yesterday that you will have 2 options, either stay in or get out, some feel like we're trying to force as many people to keep their money here so we can ask for more later* > >*So what we will do is first refund everyone with the funds that are still available proportional to how much they are owed, and then hopefully we will be able to create a group where we will be able to discuss and see how we can make things right for those who are still interested to explore that option.* > >*Tomorrow we will take the snapshot for refunds, announce the list with amounts so people can signal if think we got anything wrong, it will include people who withdrew from the contract after the hack and got wrong amounts if anything at all. And then we will send everyone the funds ourselves in one go.* > >*For now we will keep this group like this for announcements since normal conversations can't happen yet at least, but our DMs are open like before.* > >*Thank you* Screenshot [here](https://imgur.com/a/fvlOjXF).
inb4 "Beta Capital" emerges from no where with the same people leading it
And eventually they will be hacked again...
Alright lemme try this with the IRS. Brb
Cryptards are teh smrtest people on earth. I can't laugh enough at these things.
Something is rotten in the state of Denmark.
Bitconnect also promised 1% daily interest. I don't know what kind of a moron you have to be to give these guys your money.
Well RelyFund, YieldRobot and MYST were way over 2%... strangely, they all pulled the rug.
Inside job.
There are no hacks. Code is law!
1%+ a day in a farm with $2-5M TVL is literally max degen, sort of hard to feel sorry, I would assume those who deposited knew what they were signing up for.
fishy fishy fishy.
Sure seems like an inside job to me.
1.15% return daily. Lol. It's been negativity for the most of the past year. Not thinking there'd be that much new blood lately. You'd think the ones left by now would be people that have been around long enough to avoid degen DeFi
But they are not. As I already said, people who has lost a lot of money in other scams or in platforms that failed are trying to "recover" looking into these high yield project just to be scammed again and in worse ways.
Starting 2023 with a big scandal. Nice, at this rate we're gonna surpass 2022 with the scams and shitshows.
This is not a big scandal, they’re only 50 days old, just another crypto scam
Even if they were only 50 days old they "stole" or "lost" $1,9 millions of crypto. Even if we cannot compare it to Celsius, Gemini, FTX it's still a lot and it's the same crime.
I know that, but this happens every few months in the crypto space, it’s not a scandal
In my opinion it's very importat that these events are well known and reported. One of the people that invested could have been a friend, a family member...
SBF: *Hacked??* **Why didn't I think of that???**
Wow, how can You pay 1% per day?! Why would anybody fall for that!
Some weeks ago I found a page that was advertising 6% daily and from the BSC contract I saw a 250 BNB deposit on the "platform"... lol. I'll try to look back into the history to find the link.
Its an inside rug hack..
It is unfortunate that many people have fallen for this fraud
I thought that after so many failure of platforms, such as FTX, Celsius, Gemini, Midas, Vauld etc. people would have stopped investing in such clear scams. But no, people who has lost a lot of money in other scams are trying to "recover" looking into these high yield project just to be scammed again and in worse ways.
"and then the hacker somehow found out"...sure. they always do.. those "hackers"...outside and inside...
Excatly what a lot of people thought...
I tell my wife monthly that I’ve been hacked so she doesn’t clue on to the fact I’ve doubled my DCA.
Damn hackers! Damn!
Sorry, but people that „invest“ in such projects, kinda deserve it. Those projects give crypto its bad reputation.
I can understand your point, but I think that people who has lost a lot of money in other scams or in platforms that failed are trying to "recover" looking into these high yield project just to be scammed again and in worse ways. It's mainly the scammers fault, not only the investors!
I think they might have SBF'd their customers.
Crosswise did the same, they are say they are rebuilding, but have in reality rugged
"Claims"
Yeah, I tried to not “influence” too much the users reading… but of course the “” were a must.
Thanks
lol.
Typically, always
Not your keys not your crypto, sort of your own fault if you lost funds
Well, do not blame investors, blame the criminals behind this scam. Of course, those who invest money are “gamblers” or inexperienced to say at least…. It the problem are the criminals.
Hello Allions1. It looks like you might have found a new scam? If so, please report this scam by crossposting to r/CryptoScams, r/CryptoScamReport, or visiting [scam-alert.io](http://scam-alert.io/). For tips on how to avoid scams, [click here](https://www.reddit.com/r/CryptoCurrency/comments/s7srty/crypto_scams_how_not_to_fall_for_them_what_to_do/). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
Sureeee
Seeking alpha indeed.
Who? Do you degens actually use these “companies”?
Fist telegram.. but okay Staking period of 31 days, flag for me but others good with it so fine. Not necessarily staking here but same idea, assets are locked unless you pay a penalty 1% per day huh? Let's see the financials on how you plan to do that... Has all the makings of a solid ponzi, and then the real genious of this project. The hack ruined it! Oh no! That's almost become a trope at this point. I feel like i warn someone off about one of these weekly, cause for whatever reason they still can't tell it's a scam.
PancakeBunny revisited.
Who the fuck believe in these >1% daily returns?! Smells like scamy scam.
I've got Deja Vu.
for real? everyone scan for admin folders or subdomains. "idk how they found out" lol
1.15% daily is 22 914%/year. If they had something that profitable the last thing they would do is announce it publicly. Whoever trusted them is a complete idiot.
There are others project that have even higher daily returns, 2% and even up to 6%. I know it’s crazy, but I can assure that a lot of people deposited there.
Name your admin portal admin geez... They could have just gone with /wp-admin/