Wednesday, October 27, 2021
HomeNews$50 Million Exploited From Users in Chinese EOS Ecology Scam

$50 Million Exploited From Users in Chinese EOS Ecology Scam

The exploitation act dawned on its users when they were unable to access their holdings through withdrawals as they had been blocked. The scheme had at first disbursed user profits in a time-bound manner while it worked assiduously to increase its client base. However, it became visible that it could not sustain this any further, it was only for a while as it shut down inevitably.

In 2018, when Starteos launched an auction platform for EOS users to generate accounts ending in .io, the Ponzi scheme, however, took advantage of this to quickly generate an account which if examined in EOS block explorer since it was generated from Starteos will appear linked to EOS block pool. However, under the guise of being linked to Starteos.io, EOS ecology had an account name of w.io instead.

Starteos Debunked EOS Ecology Association Claims as Evidence Reveals the Latter to Be a Fraud

In a 26 paged micropayment form, it was evident that all the transfers were made from what seemed to be dummy accounts from users such as “snailpay1131,” “zbeosforsend,” “vuniyuoxoeub,” and the rest.

Image Credit: Shutterstock

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