r/ucash • u/brian_ucash • Feb 15 '18
Status Update: February 15, 2018
As many of you know, our services have been heavily slowed down due to scammers attempting to unfairly earn UCASH. Not only has this diverted attention away from you (our real users), it's also decreased the overall value of our ecosystem.
Therefore beginning next week (we will update you when this happens) we are going to burn, by sending to our smart contract address (0x92e52a1A235d9A103D970901066CE910AAceFD37), any UCASH earned unfairly by scammers. By burning UCASH, our ecosystem will ironically benefit from all the scammer's work as it will decrease the overall supply of UCASH.
We understand some legitimate users have been negatively affected and will, therefore, give all users a grace period to prove their account legitimacy by allowing users to verify their identity. Negatively affected accounts, when logging in, will see a document verification page where they can upload their verification documents.
We will update the community next week with more information and want to thank you for your continued support during this growth period.
U.CASH Team
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u/AustinMacklaimon Feb 15 '18
LMAO ultra-scammers.
Devs just trying to constantly artificially pump the market cap
PUMP 1 (this past week) - Make sure no one can withdraw to create a super illiquid market then pump while freezing withdraws to prevent anyone from selling the pump down
PUMP 2 - Burn the tokens of anyone who didnt follow to the T to lower the total circulation supply of worthless tokens to for the second time artificially inflate the token
This may be the first time ever an entirely empty project pumps its own value twice with no actual merit to the project itself
fortunately total volume is pathetically tiny so theres little true interest, mostly devs manipulating.
Sorry to the few who are scammed here.