RED FLAG ALERT! For YOYOW ICO (Chinese Steemit)...be careful!
Yesterday I invested a 1/4 of a Bitcoin into an ICO YOYOW and everything was all good. The funding was 94% complete. I was like, “awesome I am going to get in on this!”
Here is a screenshot from yesterday around 1am Eastern Time:
As you can see it’s is 94% Funded.
About 2am Eastern time May 23rd YOYOW was fully funded 100%. (No screenshot sorry)
I kept the webpage open so that I could monitor just how much they would raise and at 8am Eastern time I found that:
Total Funding Had Mysteriously Dropped by Over 20%!
What’s going on here?
Are the organizers padding the funding with their own funds to draw the public in? Then when people join they take their money out of the system so it isn’t at risk?
I don’t know, I sent a message to the team but they haven’t responded.
I will update if they do.
As for YOYOW ICO…please be careful.
/Ethan
which site are those screens from ?
it looks like ico365.com
Yup ICO365
Uff it;s fine I just confirmed.
They are collecting both BTC and ETH but they calculate it both as BTC so when ETH dropped, the funded amount calculated in BTC went down :)
Easy.
Are you sure? Here is the last 3 days of trading and the ratio between ETH and BTC:
For the most part the ratio seems similar. Anyway only time will tell since we are all locked in now.
Now it says funded 100%.
I think it's because part of money is collected in ETH. There's only 114 BTC shares (for amount of 125.63 BTC) sold so this amount is constant. The rest is in ETH (Already sold 760) so when ETH exchange rate is changing the whole amount in BTC will change.
ETH went yesterday from 0.084 to 0.072 BTC.
isnt it depended on the btc price? the similar situation was with storj.io yesterday, where they gathered about $28MM and then just eth started to go down, so few hours later there was $27.2MM
I'm having problems on StartJoin/StartCoin. And they are not answering my emails in 3 weeks, Anyone else?
China. yikes. i hope it gets resolved
Yeah I had to signup on this sketchy Chinese site to be a part of it...ah well...will see what happens since I am already committed.
good luck.
Oh not again... Thank you for heads up.
thanks for the info @ethancaine Please keep us updated.
full steem ahead!
@streetstyle
Do keep us posted and hope it works out for you
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