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This is a ghost town - BCHtowns postmortem analysis

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Avatar for PVMihalache
Written by   1008
1 month ago
Topics: Scams, BCH Towns, Play2earn, NFT, BCH, ...

I notice BCH Towns on Twitter and had a quick look at the project details. This new @SmartBCH play2earn game looked promising. The upcoming game would be powered by an account-bound NFT, which will be used for the town expansion and many other things. The BCH Towns had few Twitter Spaces where questions were asked and the project had an outstanding social media activity.

On launch day I hang out on their telegram group because I was interested in the game. I don't invest for pump and dump, therefore the amount I was ready to put into the game was only $40. The concept was proper old-school gaming, maybe that's why I ignored some red flags

I found it odd that the admin chose to keep the contract address secret until the token launch, as well the wording used to describe how good the farming rate will be. Lesson 1: When something looks to good to be real ... it is not real!

But few minutes before the launch, a token was found on the blockchain, and some quickly invested thinking that was the $TOWN token. Unfortunately it was a scam token but my spider-senses find it weird that the admin was quiet while the fake token info circulated in the group and then came to clear the chat.

20 Bitcoin Cash were used as liquidity for the scam token and this was the action of an experienced scammer not a newbie. I alerted the #Club1BCH about it but at the end I still bought $TOWN. The contract address was announced at 6:59 and some whale purchases happened at 6:58. This was blamed on the blockchain transparency and open information.

Few shady things and not an ideal launch but I decided to give this game a chance. Lesson 2: If it looks like sh!t and it smells like sh!t ... then it's a sh!t!

I didn't bought immediately after the launch, waiting for the hype to cool. About half an hour later I spent the $40 for 70 TOWN tokens. I staked them and waited for the APR dashboard issues to be sorted. You don't get 15,000 % APR so often so this looked good. Was time to go to bed and let the farm work for me.

Woke up the next day, claimed the bounty and stake it again. And then... at one point ... scam alert .... BCH Towns rug pulled! It's not the first time I was scammed, and I bet it will not be the last, but the signs were there and I didn't want to accept the negative vibes.

Checked the Telegram group and the chat was no longer available. The low-life user that orchestrated this scam was gone! What is concerning is that he/she knew exactly what the BCH community wanted and sugarcoated a project to tick the boxes. This is someone who spent time on SmartBCH, and probably someone who makes a living from tricking others. Lesson 3: Scammers gonna scam, haters gonna hate!

The Twitter account was not down yet, but it followed the telegram scenario shortly. The village simulator was gone and the farmers were left without the money.

Lesson 4: Listen to your gut-feeling! I was thinking I was paranoid ... but I was right! The pre-launch fake token was them as well. Four different wallets received the 7 BCH stolen with the fake token scam, and this four wallets where the whales that bought before the token contract address was announced. Despicable but well played!

Power farming at ultra high APR, sold and dumped the price enough for people to buy more and then ... all the liquidity was taken and they vanish! Sad that people will go extreme to lie and cheat others, all for a handful of gold.

I invested $40 worth of BCH, which I was affording to lose (and I lost)! Because I didn't want to have reminders of this failure, I swapped all the $TOWN for $0.40 and left this memory to sink. It's time to move on and make sure that people will be aware the next time I have negative vibes about a new project.

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Avatar for PVMihalache
Written by   1008
1 month ago
Topics: Scams, BCH Towns, Play2earn, NFT, BCH, ...
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Comments

Oh Gosh, you're also one that got scammed. Good thing I'm not that updated on that **** and also I don't have have that much fund on my wallet coz I have some, surely J will also buy it aigoo. $40 is a big big amount though 😱

$ 0.00
1 month ago

Basically I let myself be scammed because I liked the game 😆

$ 0.00
1 month ago

I am also interested to invest it but thankfully I didn't invest.

$ 0.00
User's avatar Yen
1 month ago

I said that I will pass this one but at one point I felt pity for admin as he/she was trying to sort out so many issues and the people where upset

$ 0.00
1 month ago

Certainly scammers are not famous for their intelligence, though. They usually make horrible mistakes leaving traces behind since:

i) They can't cover all their steps ii) They are ignorant

Basically, if a scammer was intelligent, they would create apps and software for people to use and make millions instead of stealing money or crypto from those that are simple people with limited funds. They may get away one time, eventually they get caught.

$ 0.00
1 month ago

Yes, and blockchain is always visible so at one point they will be caught

$ 0.00
1 month ago

Exactly what i said few days back. The scammer isn't a newbie, he is a pro. I won't be shocked to see that it's an insider from the community. He knew what the community wanted and played to the tune. This made everyone ignore the reg flags.

I didn’t but the first one too but went ahead to buy the second time. Not the first and won't be the last.

$ 0.00
1 month ago

Being scammed is part of the game

$ 0.00
1 month ago

Another scam! Blimey, this looked interesting indeed. I decided to stay away from investing for now, that’s the only thing that saved me from loosing more money.

$ 0.00
1 month ago

I just wanted to play a good game

$ 0.00
1 month ago

I was quite lucky not to have been caught by this one. Scams are getting too much on sBCH

$ 0.00
1 month ago

The signs are always there,but our greed will keep pushing us

$ 0.00
1 month ago

Follow your gut feeling next time..

$ 0.00
1 month ago

Sorry that you fell victim to this. We were discussing the red flags and I was surprised that you bought into it. The 1000 TOWN was 2 BCH. Ah.. forget it.

$ 0.00
1 month ago

I bought just because I liked the game concept. I was hoping that the failed launch was a bit of badluck for them

$ 0.00
1 month ago

Indeed this scammer was not ordinary. It was well-planned. Launching a fake CA then buying early on with the real one, dumps to everyone and take out the Liquidity.

I have a feeling this is a pro-scammer from other chains, but most probably from BSC. Same tactics

$ 0.00
1 month ago

was someone who done it before

$ 0.00
1 month ago