YoBit is under some serious heat after their heavily awaited token Yoda was launched. YoBit has been revving up for this launch for about a month know, acquiring more than 100k airdropers. If you don't know what YoBit is, Yobit is a cryptocurrency exchange platform that unites major market players. Yobit.net always supports cooperation with the most popular world cryptocurrencies and provides the possibility to gain profit at electronic money exchange transactions.
Even though YoBit is topping the game right now their latest token add, Yoda, failed short of what traders were looking for. YoBit has ran into some major issues. Let's date it back to the last week in January. Yoda token started off promising but something has always been off about this Token. A few things that was off about this token were
- There was no exact price being listed
- The dates of the withdraws were being changed
- Admins seem to know nothing if not ANYTHING related to said token
- Banning members based on obvious questions
- A failed human verification bot
- Yoda coup spree.
Let's start off with our first bullet.
There Was No Exact Price Being Listed
As stated before Yoda did not have an exact price which begin the ultimate downfall of Yoda before it was even released. In the Telegram group of YoBit Official Eng Chat which house over 100k users. Traders kept asking the main Admin (Dan) about the price. Traders even went as far as contacting YoBit directly and on Twitter! All which ended in a short but simple "We don't know" answer and "It depends on the volume" That answer went around for a few days. No one knew the official price of Yoda till today (Feb 4th) a week and a half after suppose withdraw date. Yoda started off at 0.00032779 and now is nearly at 0.00000001 price market and that is just an a 14 hour span!
People were so crazed they literally dropped it nearly to 0k. It get's crazier. YoBit mislead over 100k people but saying it would be sent to their wallet which can then use to trade which in reality it was sent to their "Investment Box" where the Yoda token would be locked for 24 hours but we'll come back to his part soon.
The Dates Of The Withdraws Were Being Changed.
YoBit's downfall for the Yoda coin and their rep couldn't be even more self sabotaging than this and this was the date changes. Yoda was originally going to be sent out Jan 25th! but for some unseen reason Yoda was being pushed back a few days till January 28th. On January 28th they then posted that all Yoda news would come on the following day. On the day of Jan 29th the Telegram bot rolled out their "Human Verification Check" where you need to check that you were human to withdraw- but it get's better- more than ten thousand users token mysteriously started losing their tokens from their referrals and even their personal airdrops. The Admin (Dan) at the time told people they were trying to "weave out the fake and duplicate accounts" which was interesting because they said that had that part handled with the action of flagging said traders account if they were moving Yoda from one wallet to the other. Again, you catch that keyword WALLET. Finally we came to hear some news on Feb 3rd. The news was that trading for Yoda would start in 24 hours-which it did. What's the catch you're wondering? No one knew that in exactly 24 hours after trading have been launched that ever user who didn't "withdraw" their airdrop would lose their tokens. Now you're probably like "Than you should have withdrew" only if that was EASY. When you apply to withdraw on the Telegram bot it comes up and says these following things.
No Yoda was updated on that list but The Admin (Dan) kept saying they can withdraw through the telegram bot and to their wallet.
The Final Showdown
My Friend went on the chat last night to defend all traders and was blocked by new Admin after telling people what would happen once the Token dropped. Below I've attached the conversation below.
Now let's wrap this up with all the answered questions you probably have. Now you're most likely wondering who is "Blacksmith" Blacksmith is an alleged support working at YouBit. Blacksmith forewarn my friend about the withdraw process. You need to have premium account and hold at least 0.0075 BTC in your account for 24 hours and your account needs to be verified that way. In return you'll get the yoda in your wallet and 10000 bonus.
Here is exactly what Blacksmith said (that turned out to be true)
"To get Yoda you need to confirm your trading balance first. We open Yoda wallets for verified accounts with the confirmed balance. To withdraw Yoda and getting 10000 bonus you need to verify your account. After you get verified you will be able to use all our wallets without limits. You will be able to deposit Yoda, Crave, EOS, DEM etc. The verification is free. To get verified you need to hold at least 0.075 BTC on your account or become our premium user. You only need to hold 0.075 BTC for 12 hours on your account during the verification. You will be able to withdraw it later. Why our system requires 0.075 BTC minimum balance to pass Proof-Of-Balance procedure? - It's a confirmation of real account. It means you are a real trader. Very often spammers create our accounts with small balances to promote their services and products in chat. When someone has at least 0.075 BTC on the balance and agrees to pass verification (we will check chat history) he proves he is not a spammer/scammer. Our exchange rates for many coins are very attractive and our verified users can earn good money on arbitrage. Our management does not want to give such benefits for spammers or people who do microtrades. Please don't worry - 0.075 BTC will be on your balance after we activate your account and you will be able to withdraw it. It needs for the verification process. Follow my instructions: 1. Deposit at least 0.075 BTC to your Yobit balance if you don't have this amount. 2. Click on your user name in the top right corner of your account and select Yobit codes. 3. Then select BTC and enter your full BTC balance. Click Create New Code. You will need to confirm it via email. 4. After you confirm the code don't activate it. Send the code to me and we will complete the verification step."
If you remember from my previous bullet I said the admins didn't know nothing if not anything, I meant that. In the screenshots above you said Ultramod (a different admin) tell's my friend that Blacksmith was a scammer. Turns out he legitimately works for YoBit. The whole time the Telegram airdrop kept telling new users and traders you would be able to automatically withdraw to your Yoda wallet, which wasn't true, it would be withdrew to your Investbox which is locked and you're only able to withdraw said percentage unless you did what Blacksmith said. It's to stop people from tanking the market. When you first started the Telegram bot it didn't tell us that we would have to go through all that hassle. Yoda could have been amazing stable coin but look like the greedy greed's reach it first.