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I’ve feel scammed of my XRP investment


milopet
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Hello community,

I’ve feel scammed of my investing Xrp in liquidity pool mining site https://stablepool.io/

It all started 10 days ago when I tried to withdraw my XRP from site, contacted support straight away but not resolved till today.

Really worry about my investment over .. ... XRP all my savings, please can anybody help and advice what to do next??

Reasons why I’ve worry see answer from support.

-You probably have an additional security system triggered, This happens if you change devices, connect to another network, or use an anonymizer. This is done for your safety, thank you for your understanding.

-Additional protection is triggered for your account. We need a white list of your XRP addresses to withdraw funds from the platform.

-Please don't worry. On weekends, there are fewer people than usual working in the support department. Accounts with balances over $50,000 have additional protection.

- This is for the safety of your funds. If you change the device, or go into an account from another ip, or use anonymizers on your account includes protection against unwanted action. In this case the withdrawal is limited for 24 hours for confirmation on your part. This is a standard protection procedure and you should understand it.

-I understand your worries. The helpdesk responds once every 24 hours. At the moment you have a withdrawal limit of 1000 xrp. All these conditions are spelled out in terms and conditions when you create an account. Just wait and don't worry. When you pass the necessary procedures you can safely use the platform.

-Your issue is already being handled by the security service. Wait for further clarification by mail. They will definitely help you. Believe me, you have nothing to worry about.

-Please carefully read the rules you agreed to when you created your account. Especially the points about account security and reputational expenses.

-Please wait for a response from a safety specialist. They will definitely help you. Your withdrawal is not disabled, just a limited amount. I repeat to you that this is for your safety. All our actions are absolutely legal and reasonable.

Stablepool public XRPL https://xrpscan.com/account/rLvFsKfrSenn5mMkP67Ps2ZiomwQvByTWj

They hold less that my funds, now they email me to do KYC I said no problem but still waiting for answer for 3days. Any help advise ANYONE??

Edited by milopet
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A lot of their reasons seem legitimate on the face of it. If the terms and conditions that you agreed to did say the same thing, then that seems reasonable.

Not hearing back for a few days is concerning, but it's only 3 days and it's the middle of the weekend. Sometimes it takes a long time for even the big exchanges to deal with support cases also, it's not necessarily a bad sign.

The fact that their wallet has less XRP than your account, is not necessarily a problem either, as it's normal for companies to have multiple wallets, and they spread the funds around to limit the damage that might be caused by a hack.

I'd suggest to keep contacting them every day as long as they don't get back to you, because they've said that you should get a response every 24 hours.

If it becomes clear to you that it is in fact a scam, then report it to your local law enforcement. They will probably not be able to help you in the short term, but having a police report may help you in the future if stolen funds are ever recovered.

 

Some extra info:

The domain stablepool.io was only registered in September, which is a little bit of a red flag, but again, not necessarily. It just indicates that they are very new, and therefore without much of a good record.

My personal opinion on the website, is that it doesn't actually have many of the warning signs that many scam websites have. It actually seems like they put care into building it, and the language used is not "scammy" sounding to me. It is a bit light on contact information, but there is at least a company name and number, and a name on the whitepaper. I don't have the maths skills or liquidity pool knowledge to be able to tell if the whitepaper is legitimate or nonsense. It could be a well designed scam, don't get me wrong, I'm just trying to give you some outside opinion, having seen plenty of much more obvious scam websites before.

However, no linked social media accounts is a bit odd in this day and age.

As I said, I don't understand liquidity pools, so I won't comment on the actual products that they're offering. I'll just say that 0.5% per day is a large return for any financial product, and you should beware of schemes that promise fixed rewards like that, and it's absolute madness to put your entire savings into one. Even if they have good intentions, if they struggle to keep up with the rate of return then everyone involved will likely lose everything eventually.

I hope you're able to get your funds out, and let us know how it goes.

Edited by at3n
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Thank you for answer,

This was one of most stupid things I’ve done risking my funds like this.

The basic idea is that anyone can add liquidity to decentralized exchanges such as Uniswap, SushiSwap and so on through their Defi Interchange product StablePool and make a profit daily

I started with 1k in for 24hr taking rewards out of site to my wallet, and then gradually increase always repeating process.

I done my share of research as well, on partner last month partner was Arrington XRP Capital,

But it was removed from their site. Email partners pantera don’t know about them.

https://ripplecoinnews.com/stablepool-io-review-2021-everything-you-need-to-know/?unapproved=17926&moderation-hash=b99cd76dcf1a14ecf058df75e5e5f6a1#comment-17926

I was comforted after this review, but I was wrong.

I am thinking site is scummy because doesn’t have enough liquidity (money) in mining pools.

I am in contact with support for 10 days trying to sort out my withdrawal, but feel like they only trying to get more time, keep my funds in for longer...maybe rug pulling scheme

At this rate it’s going to take 60 days to get money out. If i survive than long.

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  • 2 weeks later...

I'd say at this stage it's looking pretty bad, and likely to be a scam (or at least they can't afford to pay you...).

I created an account with them (using a disposable email) and I wasn't too impressed - there was no verification at all, even of my email; the terms and conditions don't include all of the things that they told you when they emailed you; and one line in the terms and conditions looks particularly bad to me:

Quote

If your actions cause reputational damage, you could be fined up to $100,000.

I really doubt a legitimate company would (or could) say that, and it strikes me as something designed to scare you from posting about them or asking for advice online. Scammers use scare tactics like this.

I'd probably think about going down the law enforcement route now. At least file a police report to get it on record.

If they aren't full-blown scammers then maybe a letter from a lawyer might help, but I'm guessing you don't live in Japan so your options are limited in terms of actually suing them?

I'm sorry if this ends up badly for you, hoping you can get a good result in the end. It's possible that they have mismanaged funds, and the market downturn over the last month has limited their available assets, and they're waiting for a recovery to have enough cash to pay you...

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  • 3 weeks later...

Based on a fast research on this domain i would say NO. 
They are too much :ireful1: aspects compared to positive stuff. 
(never used it to be honest but i will not even try it out from what i can see there ) 

-----

image.thumb.png.02a220f58217cb617288efc1401eade1.png
------ 
additional alerts
- Scores from research engines are pointing the lowest possible score 1 out of 100 !
- Domain registered from Belize City ( masked by Privacy protector to be seen as registered in Island ) 

- Some doggy giveaway domains registered on same server !!!
 

Hosted Domains API

image.png.4055a73dd84495fb0453f080ad045b55.png



 

I will be super shocked if this turns out to be legit. 

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4 hours ago, mNk said:

Based on a fast research on this domain i would say NO. 
They are too much :ireful1: aspects compared to positive stuff. 
(never used it to be honest but i will not even try it out from what i can see there ) 

-----

image.thumb.png.02a220f58217cb617288efc1401eade1.png
------ 
additional alerts
- Scores from research engines are pointing the lowest possible score 1 out of 100 !
- Domain registered from Belize City ( masked by Privacy protector to be seen as registered in Island ) 

- Some doggy giveaway domains registered on same server !!!
 

Hosted Domains API

image.png.4055a73dd84495fb0453f080ad045b55.png



 

I will be super shocked if this turns out to be legit. 

RIP OP, hey mind telling me where you got this research engine? I might need it :).

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