GUIDE: Scam Validation & what you can do!

Dear Bounce-Community,

over the past few months, Bounce Token users have reported losses due to scams on the Bounce network. As with any investment, before you invest in cryptocurrency, know the risks and how to spot a scam. Here are some things to watch out for as you consider your options.

1. Bounce Finance
Unfortunately, scams are a daily issue in the crypto-space. This also counts for Bounce’s auctions. As of now, Bounce only provides the platform for users to buy/bid/sell but does not have many security measurements on how to validate if a seller is a potential scammer.

2. How to spot a scam?
There are many indicators for spotting a false investment opportunity. For this guide, we will be using the auction “ALICE Launchpad”.

2.1. Validate the contract address via Etherscan.io
Every auction provides an Ethereum address (contract), as seen highlighted below.

  • Example Ethereum Address: 0xfe9F486C3bEA541cf74249Da68896c3356D141aa
  • Copy the address, go to Etherscan.io & paste the address into the search field (here)

Pay attention to the following detail:

  • Tracker: Normally (this goes for most of the projects, a token image is set. If not, be suspicious of the cryptocurrency because it might be scam.

2.2. Validate the token address via Etherscan.io
The next step is to check the token address. To do so, click on the tracker. In this case: ALICE (ALICE) as seen above.

Pay attention to the following details:

  • Token Image: As established before, this should be set.
  • Token Name: The name is not set, displaying only “Token” and then the Tag “ALICE”
  • Official Site: Just above Social Profiles, the official website URL should be displayed.
  • Social Profiles: Profiles like Twitter, Telegram and Reddit should be set.

2.3. Search for the token on Etherscan.io
Another important step is to search for the token. This falls under the category DYOR (= Do Your Own Research). Etherscan.io allows users to search for tokens by name, so in our case type in “ALICE”.

Instantly, you are presented with 3 different tokens, whereas only two fit our search profile:

Since we are not blindly investing into a project, we should know the website URL, and what the logo looks like. This can also be checked on coinmarketcap.com, the leading cryptocurrency platform for prices and charts.

Validating only takes a couple of minutes and saves you a lot of hassle and money.

3. I’ve been scammed - HELP
Falling as victim for scam is never a good experience, also depending on the funds invested. So what can you do?

3.1. Are my funds gone?
If investing into a scam, there’s probably close to no way to get a refund. But things can be done. Scammers are part of the crypto-space and it’s in your hands unfortunately. You are responsible for your own investments.

3.2. What can I do?
Your actions are limited at this point.

3.2.1 Create a topic on Bounce.Community
Report it to the Bounce Community in hope that the team/devs/support can do something.

3.2.1 Report the address on Etherscan.io
As seen below:

3.2.2 Comment on Etherscan.io
Write a comment that helps others to identify the scam faster.

Bounce actually has a warning on the platform.

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Cool story. How about the company moderates / vets the projects prior to approval?? You know… so they don’t have people losing thousands of dollars in scams. It’s not like its a traded coin or anything. Gross

Apparently, the mods are not here at all, unfortunately.

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You know there’s a phrase ‘shutting the stable door after the horse has bolted’ - bounce is the epitome of this metaphor…except it hasn’t even bothered to shut the stable door yet.

Absolutely appalling place. Full of scammers. Full of scams. Probably set up by @mick himself.

I want my ETH back!

Not sure if you understand this post. The accusation of yours is just stupid btw. You literally have no ground to say such stuff.

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Your response here is childish to the say the least. How old are you, 12?

I absolutely have the grounds to assume that you could easily be the one setting up all the scams because you do nothing about them. You clearly don’t care how many there are.

As I’ve quoted in my previous posts (which have taken an appallingly long time to get the merest response from a ‘bounce admin’ if that’s what you are), your words about what you stand for are just platitudes.

Loads of people are informing you of scams going on and you do nothing about it.

So you obviously don’t mind them being here.

That’s a shoddingly awful way to run your platform.

I’ll just keep going on Twitter and warning every single person to stay away from your charletan platform and to stay away from your shitcoin $bot token.

Only more will join this opposition to your platform while you keep supporting scammers who steal people’s crypto through your platform.

Do the decent thing and give me my ETH back and I’ll be sure to shout even louder about that!

What response do you wish dude? How old are you telling me that I’m some sort of scammer when providing a guide on how to validate if an auction is scam or not? Think about that for a minute.

You absolutely don’t. I’m trying to provide help and then there are morons like you, who assume that I set up auctions to scam you. Oh no, wait. It perfectly makes sense right? Using my picture for the account, me being easily found on the web and PROVIDING HELP.

I’m not a bounce admin as already established. Like I get that you are pissed that you lost your ETH, but I won’t be your scapegoat just because you can’t validate scam on your own. It’s not my fault, literally only yours. Also, do that on Twitter if you like - since I’m NOT AN ADMIN (again for you), I literally don’t give a shit.

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Thanks for trying to help Mick. Your last statement that you don’t give a shit really is at odds with you saying, in other words, that you do give a shit by posting the article.

Haha, ‘using your picture’ is really funny - this is the internet ‘dude’ and you could literally be anyone whatever your picture…as could I.

Thanks for clearing up the admin point. My mistake. Have a nice life.

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Nah, I just dont mind you saying anything about Bounce.

I know it’s easy to copy accounts but nö worries at this point.

Sure, have a nice one. All the best

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Hi Mick is there any way I can get in contact with a representative of Bounce?

Sorry mate, I tried reaching out to them but you could try reaching them on Twitter. You can’t directly write the main account which is https://twitter.com/bounce_finance but you could try to contact https://twitter.com/chandlersyf who is the co-founder of Bounce.

The best thing we can do is let everyone know that this platform is a scam all the way around. After checking SEVERAL contract addresses, I have yet to find one that is legit. It is in their best interest to make this a better platform, and since they wont reply to anyone and definitely don’t do anything to take down all the scams, we should make it known that there is no reason to risk their investment here. I know to check the contract addresses, and I still made a mistake. It is going to keep happening to people especially the new ones to crypto and I dont want newbies getting a bad taste in their mouth because of a shit platform that isnt doing anything to remove the scammers. These scammers are putting ads on youtube for arbitrage channels on telegram. Youtube is posting these ads everywhere so loads and loads of people are going to fall victim to this. Its really sad and disheartening that there are people like this in the world.

Thank you, Mick, for doing your part and posting this thread!!! It will help a lot of people.

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They wont let me in to the telegram group chat room

Hi, I need help Identifying where my BNB has gone, I put almost 2 BNB into an auction and then I sent it via wallet connect to trust wallet and it came back as 0.4 BNB so Im missing ALOT of BNB anyone know what could have caused this?

Them not replying is somewhat telling us that the team behind Bounce does not mind that this sort of wrong business is going on on their platform. They could have easily already implemented a scam validation script to their decentralised Bounce platform.

What could be done is “outperform” Bounce’s social media by creating a new Telegram group that makes people aware of the scams happening, basically creating a (1) unofficial Telegram group for the community hosted by the community (2) takes it upon themselves to create a bounce community chat platform like this one which gathers all the wrong doings.

I’m trying to get to the stage that I’m an admin here in terms of being active on bounce.community and then I’m able to “level up” the rankings so I can eventually move posts to the right category and make it a bit more structured here. Potentially it’s possible to export the data from this platform and import it to a new platform (Bounce.community v2).

You are welcome, I’m sure it helps some people but most of them still fall in the trap & then come here to seek help.

I’ve got scammed using the Fix Swapped Auction to swap ETH for MINA Token. What can I do to recover the token? Bounce team is not doing enough to prevent this sort of thing from happening. Pool is still opened, why hasn’t it been shutdown?

Join this Telegram group. This will be run parallel to those who have experienced problems or were victims of scams on the platform. This way we will get attention by the admins. Beating them with their own tools at this point.

Thanks for this, it definitely helps me, I have a query, I bought POLVEN through an auction on Bounce and have the tokens in my Metamask but they can not do anything, is there a step I have missed out on completing to collect or have I been scammed? Thanks for any help

Those are fake duplicate tokens im sure you have been sent them before somehow if you have metamask, I got my link coins from them but they are worthless literally no value. Shit id be down to hire a hacker to crash this mug if i thought it would at least save people from loosing more coin to these prics.