SBF_Alameda Group are a big scam entity. Beware of everything these guys touch. Just today, they changed an ICO rules after going live and added a 1% deposit fee, thus scamming depositors
These guys are major charlatans and the longer their operation goes on, the more they succeed in making even the shadiest scam look legit. Every day their scam operation gets murkier and their greed becomes more and more evident.
Today there was an IDO (Initial DEX offering, ICO for DEX) for Oxygen protocol and right after going live, they added a 1% deposit fee which was not there before! Thus tricking people into depositing into the DEX unknowing that there was a 1% fee on their whole deposit. Within a minute of the IDO start, there was over $2m + $400k in FIDA tokens deposited, and majority of them were unaware that their deposit was subject to a 1% fee. Max deposit was already capped at $5000, so Alameda group scammed $50 from each person by changing the rules at the last moment. And due to oversubscription, only a small portion of $5000 gets actually alloted, thus many people would have had losses.
Before / After: Rule changed at the last moment just after going live, exactly at 20:00 UTC+8
Considering the massive over subscription (atleast 50x), someone putting $5000 would have got only $50 worth OXY allotted, but would have paid $50 in fees due to the last minute rule change.
This was well planned before in advance by the Alameda team, it is evident because such a change requires code level changes that only the operator can make and it was all in place, only the public were unaware of the change. This is such a bad way to scam people. Basically a lot of people lost money, instead of what was a sure-shot way to profit by participating in the IDO.
Apart from this, they are already running a lot of ICOs which have massive portion of the supply locked with the team (like 60-80%). FTX, SOL, SRM, FIDA and now OXY all have such supply circulation format where most of the tokens are in the hands of the team. They are making billions out of such centralised supply model, but still have the green to scam people of 1% deposit. Shameful scammers
submitted by /u/DetroitMotorShow