YoBit exchange and CopyCoins industry

There are a lot of cryptocurrency exchanges, where trades different altcoins. Some of them looks pretty nice, some of them already scammed like for example Cryptsy. On the last one i lost nearly 300 ETH tokens shortly before first huge Ethereum pump. So, stuff like this happens, its also my bad, i guess.

Among all these exchanges there is one which looks really suspicious. I mean YoBit.net. First time I heard about it during the Lisk ICO. Yobit administration adds LSK token before ICO ends and main net launched. Moreover the price of LSK was extremely huge, but only option users had is to buy tokens on exchange, not to deposit their own LSK for sell.

The next time I paid attention ti YoBit was Waves ICO. Story repeated. To make things clear, you should note, that both - LSK and Waves, sold on Yobit by extremely huge prices was the IOU token. Its mean that exchange undertakes to give you real tokens after main net launching. From one side it looks OK, because people should understand what are they doing. From other side - its totally unclear, and exchange do not notify users about what really they buying.

To make it clear, take a look on the charts below.

LSK/BTC on YoBit before main net launched

LSK/BTC on Poloniex after main net launched

And the same thing is for Waves...and some other tokens.

A lot of one day coins
Other suspicious thing its a lot of new altcoins on this exchange. Moreover its not tokens of newly innovative projects, its just simple forks of Bitcoin, Litecoin and other cryptocurrencies. Looks for example on EDRC or PUTIN (LOL) coin listed on YoBit.

NOTE
I know some interesting stuff about EDRC. It's one of a few projects, launched by the same people, who also developed Edinar, Bitwalk and maybe another coins. Do you remember ONEcoin scam? Its the same thing, but developed cheaper and faster. These guys works like conveyor for fooling people.

If you look closely to YoBit and the deep to bitcointalk.org, you could find a lot of [ANN] topics, with newly created coins. Some of them don't care a lot about quality and marketing, some of them do pretty nice marketing and invest up to 5k USD in their "projects". And huge part of this copy-coins later lists on YoBit.

As I mentioned investments in this type of coins may be up to $5k. But in reality all job around launching and promo may costs not more that 1-2 btc. For example creation of wallet for bitcoin fork takes nearly 0.2 btc. Design for web-site and tread on bitcointalk takes nearly 0.1 btc. People who involved in this processes usually located in Russia and Ukraine. As i know YoBit is launched and administrates by people from Ukraine. And lots of "devs" serving the copy-paste coins also located in Russia and Ukraine. Thats why costs of production are really small.

I still proceed investigation around YoBit activity and its relations with copy-paste-coins industry, and later o Steemit will be published newly details of it.