coingecko and hotbit listed a known crypto scam

Shame on Hotbit and Coingecko for the Minereum Scam (IMPORTANT - WATCH OUT)

By Hamminy | cryptoinvesting | 29 Jun 2021


If you received 150,000 Minereum tokens in your BSC wallet, don't do anything with them. This is a known scam that will take your BNB if you interact with it at all.

I found out about this scam through a routine check of my wallet. I saw the new Minereum token and was curious, especially so because it did have a logo. That's usually reserved for legitimate projects. I took the token through my normal paces. The first step is to check it on Pancakeswap to see if it's worth anything. Mine was worth $11,000, which was an instant red flag.

Luckily I followed my own scams protocol before even approving the token for trade. Because apparently, just approving the token is enough for the devs to steal all of the BNB from your wallet. So yeah, don't even try to sell it.

In case you don't click the link above to get all of the tips I have for identifying and avoiding scams on BSC, it's always important to check the veracity of new tokens on Twitter. Don't go to the project website. Go to Twitter. It's a public site, and the project devs can't scam you like they can if you go to the project site.

From there, found out Minereum was a known scam and left the token alone. They airdrop you the tokens, then charge you a BNB fee to trade them. Otherwise you can't move or trade the tokens. Of course, once you give them the BNB, you still can't trade. But I guess the smart contract goes one step further and allows the devs to pull all of the BNB from your wallet, not just the fee you give them. I don't know firsthand. I didn't get scammed, but that's what Twitter told me.

What's important about this experience is that Minereum got listed on Hotbit AND has a listing on Coingecko. But if you go to Hotbit, you'll find the order book is empty.

I don't know what Coingecko's issue is. They still list this thing with a legitimate price, and have done so for 4 YEARS. They don't even have any of their famous cautionary messages above the project. Hilarious. They've got these goofy yellow messages above tons of projects I've made money from, but a well-known scam sits there for 4 years with no warning.

Wow. And here I thought we could trust Coingecko. Apparently not. I'll be sending them some colorfully worded messages about this, and I suggest you do too. As for Hotbit, a lot of people told me it was a shit exchange. I have made some great trades on Hotbit and found projects that weren't widely available on the big CEXs, but this is definitely a black eye.

UPDATE: Went to the Bitcointalk Minereum thread on a whim and was surprised to see it was 82 pages long. That's a lot of work for a scam. Thing is, it's not technically a scam because it does allow you to sell after upgrading your "genesis wallet" to "level 3" after paying your BNB. But you only get to sell like 4 tokens per day, which amounts to around $0.35 at current prices. It would take you decades to actually sell all of the tokens in your wallet.

o3swap uses a similar mechanism, albeit without the fee. You lock up o3 to stake and can't withdraw your principal until August. The o3 you mine can only be sold a bit at a time. The difference here is the time frame. With o3, the process takes months. With Minereum, the process takes 50 years.

So I guess you can't technically get on Coingecko or Hotbit if you want to be technically technical about it. It's not a scam; you just have to read before you invest in stuff. LOL

Myself, I still think it's a fuckin scam and Hotbit/Coingecko just dropped rep in my eyes.

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