$4 000 000 USD





"A global decentralized ecosystem that enables interaction without borders between brands, companies and consumers and is built on Blockchain technology. Benebit is a disruptive network for the cashback and loyalty market based on blockchain technology. The unbeatable social component of Benebit’s model is professionally designed to meet the highest standards of business/consumer interaction for securely storing and exchanging all kinds of user and brand data for the promotion of discounts, special deals, cashback and loyalty programs. Benebit simplifies and introduces a new way for businesses and consumers to interact, which drives traffic, increases loyalty and trust, and enhances convenience and security."


"Benebit used mighty marketing tools and boasted a quality white paper. That was enough to raise millions of dollars through ICO. The feature of their product was merging diverse loyalty programs under their brand. One day it was revealed that all passport data of the company founders is fake. It was the end of Benebit, but unfortunately, the villains successfully disappeared and took the people’s money."


"Earn money back with every purchase and benefit from Cashback and Loyalty Points every time you shop. Start using and redeeming your customer points right away." "An all-in-one platform that creates added value for customers as they shop at their favourite companies as well as increases brand exposure via targeted Loyalty and Cashback Programs." "Expand your customer base and increase sales at low costs with Benebit's consumer behaviour analytics, user data insights and other metrics that build brand trust and loyalty."


"Benebit, a startup with a platform that would convert loyalty and rewards points across multiple retailers and other kinds of businesses into a unified system of fiat currency, is planning to commence its initial coin offering on Jan. 22, according to a company press release."


"Benebit.io disappeared offline on January 22." "Benebit, one of this year’s most hyped ICOs, has pulled an exit scam, making off with a reported $2.7 million of investor funds. Other estimates put the figure as high as $4 million. The fraud only came to light after someone noticed that the team photos had been stolen from a school website. Once this happened, the Benebit team scampered, taking their ill-gotten gains with them. The case is believed to be the largest ICO exit scam to date." "Benebit also had over 9,000 Telegram followers and a positive rating on ICO review websites."


"As of January 22, Benebit is no more: its site is gone and most of its social channels erased, save for Telegram, where bewildered investors are still performing a post-mortem. On paper, Benebit looked legit, having been active on Twitter for over a year and developed a sizeable community. Believers in the project had no hesitation in dipping into their pockets to fund the venture: one claims to have lost 14 BTC and another 300 ETH in the pre-ICO, which was only a day old."

Benebit ran a large ICO for their loyalty project, based on a large fake team. The website disappeared on January 22nd, 2018, along with between $2.7m and $4m of invested funds. It does not appear that any effort was made to recover the investors.

Sources And Further Reading

 For questions or enquiries, email info@quadrigainitiative.com.

Get Social

  • email
  • reddit
  • telegram
  • Twitter

© 2021 Quadriga Initiative. Your use of this site/service accepts the Terms of Use and Privacy Policy. This site is not associated with Ernst & Young, Miller Thompson, or the Official Committee of Affected Users. Hosted in Canada by HosterBox.