Zao Finance Exit Scam - Revision history

Azoundria at 19:42, 30 April 2024

2024-04-30T19:42:44Z

← Older revision		Revision as of 13:42, 30 April 2024
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	[[File:Binancesecurity.jpg\|thumb\|BSC Smart Chain Exit Scam]]BitBoy Crypto was a highly popular YouTuber who regularly promoted different projects, often as part of sponsorship deals where he would receive compensation. One such project was Zao Finance, which was a smart contract on the Binance Smart Chain which existed as a Telegram group without a website. The project quickly exited with everyone's money. It does not appear that any affected user funds have been recovered.		[[File:Binancesecurity.jpg\|thumb\|BSC Smart Chain Exit Scam]]BitBoy Crypto was a highly popular YouTuber who regularly promoted different projects, often as part of sponsorship deals where he would receive compensation. One such project was Zao Finance, which was a smart contract on the Binance Smart Chain which existed as a Telegram group without a website. The project quickly exited with everyone's money. It does not appear that any affected user funds have been recovered.

	This is a global/international case not involving a specific country.<ref name="redditold-13391" /><ref name="redditold-13392" /><ref name="etherscan-13393" /><ref name="etherscan-13394" /><ref name="zachxbttwitter-13395" /><ref name="cryptodefilordtwitter-13396" /><ref name="cryptodefilordtwitter-13397" /><ref name="zachxbttwitter-13398" /><ref name="fatmanterratwitter-13399" /><ref name="zachxbttwitter-13400" /><ref name="hvcryptoversetwitter-13401" /><ref name="0faithinvestortwitter-13402" /><ref name="burntrxtwitter-13403" /><ref name="0faithinvestortwitter-13404" /><ref name="doodhwaladailytwitter-13405" /><ref name="itsmidnightshowtwitter-13406" /><ref name="protocolupdatetwitter-13407" /><ref name="rhinofitwitter-13408" /><ref name="something27192twitter-13409" /><ref name="cryptodefilordtwitter-13410" /><ref name="theinnoviotwitter-13411" /><ref name="spadesinveststwitter-13412" /><ref name="bycasecoldtwitter-13413" /><ref name="aicoincomtwitter-13414" /><ref name="solanalyytwitter-13415" /><ref name="singh1aryantwitter-13416" /><ref name="youtube-13417" /><ref name="youtube-13418" /><ref name="youtube-13419" /><ref name="youtube-13420" /><ref name=":0">https://www.youtube.com/watch?v=4OsAv8DLRp4 (Accessed Apr 30, 2024)</ref>		This is a global/international case not involving a specific country.<ref name="redditold-13391" /><ref name="redditold-13392" /><ref name="etherscan-13393" /><ref name="etherscan-13394" /><ref name="zachxbttwitter-13395" /><ref name="cryptodefilordtwitter-13396" /><ref name="cryptodefilordtwitter-13397" /><ref name="zachxbttwitter-13398" /><ref name="fatmanterratwitter-13399" /><ref name="zachxbttwitter-13400" /><ref name="hvcryptoversetwitter-13401" /><ref name="0faithinvestortwitter-13402" /><ref name="burntrxtwitter-13403" /><ref name="0faithinvestortwitter-13404" /><ref name="doodhwaladailytwitter-13405" /><ref name="itsmidnightshowtwitter-13406" /><ref name="protocolupdatetwitter-13407" /><ref name="rhinofitwitter-13408" /><ref name="something27192twitter-13409" /><ref name="cryptodefilordtwitter-13410" /><ref name="theinnoviotwitter-13411" /><ref name="spadesinveststwitter-13412" /><ref name="bycasecoldtwitter-13413" /><ref name="aicoincomtwitter-13414" /><ref name="solanalyytwitter-13415" /><ref name="singh1aryantwitter-13416" /><ref name="youtube-13417" /><ref name="youtube-13418" /><ref name="youtube-13419" /><ref name="youtube-13420" /><ref name=":0">https://www.youtube.com/watch?v=4OsAv8DLRp4 (Accessed Apr 30, 2024)</ref><ref>https://old.reddit.com/r/CryptoCurrency/comments/wxl146/bitboy_had_admitted_to_promoting_rugpulls_and/ (Apr 30, 2024)</ref>

	== About Zao Finance ==		== About Zao Finance ==

Azoundria: Another source.

2024-04-30T17:04:34Z

Another source.

← Older revision		Revision as of 11:04, 30 April 2024
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	[[File:Binancesecurity.jpg\|thumb\|BSC Smart Chain Exit Scam]]BitBoy Crypto was a highly popular YouTuber who regularly promoted different projects, often as part of sponsorship deals where he would receive compensation. One such project was Zao Finance, which was a smart contract on the Binance Smart Chain which existed as a Telegram group without a website. The project quickly exited with everyone's money. It does not appear that any affected user funds have been recovered.		[[File:Binancesecurity.jpg\|thumb\|BSC Smart Chain Exit Scam]]BitBoy Crypto was a highly popular YouTuber who regularly promoted different projects, often as part of sponsorship deals where he would receive compensation. One such project was Zao Finance, which was a smart contract on the Binance Smart Chain which existed as a Telegram group without a website. The project quickly exited with everyone's money. It does not appear that any affected user funds have been recovered.

	This is a global/international case not involving a specific country.<ref name="redditold-13391" /><ref name="redditold-13392" /><ref name="etherscan-13393" /><ref name="etherscan-13394" /><ref name="zachxbttwitter-13395" /><ref name="cryptodefilordtwitter-13396" /><ref name="cryptodefilordtwitter-13397" /><ref name="zachxbttwitter-13398" /><ref name="fatmanterratwitter-13399" /><ref name="zachxbttwitter-13400" /><ref name="hvcryptoversetwitter-13401" /><ref name="0faithinvestortwitter-13402" /><ref name="burntrxtwitter-13403" /><ref name="0faithinvestortwitter-13404" /><ref name="doodhwaladailytwitter-13405" /><ref name="itsmidnightshowtwitter-13406" /><ref name="protocolupdatetwitter-13407" /><ref name="rhinofitwitter-13408" /><ref name="something27192twitter-13409" /><ref name="cryptodefilordtwitter-13410" /><ref name="theinnoviotwitter-13411" /><ref name="spadesinveststwitter-13412" /><ref name="bycasecoldtwitter-13413" /><ref name="aicoincomtwitter-13414" /><ref name="solanalyytwitter-13415" /><ref name="singh1aryantwitter-13416" /><ref name="youtube-13417" /><ref name="youtube-13418" /><ref name="youtube-13419" /><ref name="youtube-13420" />		This is a global/international case not involving a specific country.<ref name="redditold-13391" /><ref name="redditold-13392" /><ref name="etherscan-13393" /><ref name="etherscan-13394" /><ref name="zachxbttwitter-13395" /><ref name="cryptodefilordtwitter-13396" /><ref name="cryptodefilordtwitter-13397" /><ref name="zachxbttwitter-13398" /><ref name="fatmanterratwitter-13399" /><ref name="zachxbttwitter-13400" /><ref name="hvcryptoversetwitter-13401" /><ref name="0faithinvestortwitter-13402" /><ref name="burntrxtwitter-13403" /><ref name="0faithinvestortwitter-13404" /><ref name="doodhwaladailytwitter-13405" /><ref name="itsmidnightshowtwitter-13406" /><ref name="protocolupdatetwitter-13407" /><ref name="rhinofitwitter-13408" /><ref name="something27192twitter-13409" /><ref name="cryptodefilordtwitter-13410" /><ref name="theinnoviotwitter-13411" /><ref name="spadesinveststwitter-13412" /><ref name="bycasecoldtwitter-13413" /><ref name="aicoincomtwitter-13414" /><ref name="solanalyytwitter-13415" /><ref name="singh1aryantwitter-13416" /><ref name="youtube-13417" /><ref name="youtube-13418" /><ref name="youtube-13419" /><ref name="youtube-13420" /><ref name=":0">https://www.youtube.com/watch?v=4OsAv8DLRp4 (Accessed Apr 30, 2024)</ref>

	== About Zao Finance ==		== About Zao Finance ==
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	\|Tweet Complaint		\|Tweet Complaint
	\|CryptoDefiLord complains in a Tweet.		\|CryptoDefiLord complains in a Tweet.
			\|-
			\|September 8th, 2020 9:00:01 AM MDT
			\|Addressing On YouTube
			\|BitBoy discusses the video and he's not doing any more sponsor tweet based on Zao Finance<ref name=":0" />.
	\|-		\|-
	\|January 3rd, 2022 12:13:00 PM MST		\|January 3rd, 2022 12:13:00 PM MST

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/zaofinanceexitscam.php}} {{Unattributed Sources}} BSC Smart Chain Exit ScamBitBoy Crypto was a highly popular YouTuber who regularly promoted different projects, often as part of sponsorship deals where he would receive compensation. One such project was Zao Finance, which was a smart contract on the Binance Smart Chain which existed as a Telegram group without a..."

2024-04-29T22:50:36Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/zaofinanceexitscam.php}} {{Unattributed Sources}} thumb|BSC Smart Chain Exit ScamBitBoy Crypto was a highly popular YouTuber who regularly promoted different projects, often as part of sponsorship deals where he would receive compensation. One such project was Zao Finance, which was a smart contract on the Binance Smart Chain which existed as a Telegram group without a..."

New page

{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/zaofinanceexitscam.php}}
{{Unattributed Sources}}

[[File:Binancesecurity.jpg|thumb|BSC Smart Chain Exit Scam]]BitBoy Crypto was a highly popular YouTuber who regularly promoted different projects, often as part of sponsorship deals where he would receive compensation. One such project was Zao Finance, which was a smart contract on the Binance Smart Chain which existed as a Telegram group without a website. The project quickly exited with everyone's money. It does not appear that any affected user funds have been recovered.

This is a global/international case not involving a specific country.<ref name="redditold-13391" /><ref name="redditold-13392" /><ref name="etherscan-13393" /><ref name="etherscan-13394" /><ref name="zachxbttwitter-13395" /><ref name="cryptodefilordtwitter-13396" /><ref name="cryptodefilordtwitter-13397" /><ref name="zachxbttwitter-13398" /><ref name="fatmanterratwitter-13399" /><ref name="zachxbttwitter-13400" /><ref name="hvcryptoversetwitter-13401" /><ref name="0faithinvestortwitter-13402" /><ref name="burntrxtwitter-13403" /><ref name="0faithinvestortwitter-13404" /><ref name="doodhwaladailytwitter-13405" /><ref name="itsmidnightshowtwitter-13406" /><ref name="protocolupdatetwitter-13407" /><ref name="rhinofitwitter-13408" /><ref name="something27192twitter-13409" /><ref name="cryptodefilordtwitter-13410" /><ref name="theinnoviotwitter-13411" /><ref name="spadesinveststwitter-13412" /><ref name="bycasecoldtwitter-13413" /><ref name="aicoincomtwitter-13414" /><ref name="solanalyytwitter-13415" /><ref name="singh1aryantwitter-13416" /><ref name="youtube-13417" /><ref name="youtube-13418" /><ref name="youtube-13419" /><ref name="youtube-13420" />

== About Zao Finance ==
"ZAO FINANCE (ZAO) We build a Decentralized Finance Application to give you the most of Financial Freedom. First Fully Women empowered Decentralized Finance project. Find the Telegram community at @zaofinance Presale is Live. #ad"

He made a tweet on this token in 2020. This token got exit scammed.

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

* Known history of when and how the service was started.
* What problems does the company or service claim to solve?
* What marketing materials were used by the firm or business?
* Audits performed, and excerpts that may have been included.
* Business registration documents shown (fake or legitimate).
* How were people recruited to participate?
* Public warnings and announcements prior to the event.

Don't Include:
* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
* Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
{| class="wikitable"
|+Key Event Timeline - Zao Finance Exit Scam
!Date
!Event
!Description
|-
|September 7th, 2020 10:32:31 AM MDT
|Transfer 80 ZAO
|A blockchain transfer of 80 ZAO tokens.
|-
|September 7th, 2020 2:42:00 PM MDT
|No Tokens Received
|CryptoDefiLord reports that they didn't receive their Zao tokens.
|-
|September 7th, 2020 10:53:00 PM MDT
|Tweet Complaint
|CryptoDefiLord complains in a Tweet.
|-
|January 3rd, 2022 12:13:00 PM MST
|Mention By ZachXBT
|The tweet is mentioend by ZachXBT.
|}

== Technical Details ==
This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

== Total Amount Lost ==
The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

== Immediate Reactions ==
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

== Ultimate Outcome ==
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

== Total Amount Recovered ==
The total amount recovered is unknown.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?
== Individual Prevention Policies ==
{{Prevention:Individuals:Placeholder}}

{{Prevention:Individuals:End}}

== Platform Prevention Policies ==
{{Prevention:Platforms:Placeholder}}

{{Prevention:Platforms:End}}

== Regulatory Prevention Policies ==
{{Prevention:Regulators:Placeholder}}

{{Prevention:Regulators:End}}

== References ==
<references><ref name="redditold-13391">[https://old.reddit.com/r/CryptoCurrency/comments/ryzs07/bitboy_has_been_involved_in_7_crypto_scams_in_the/hru74j9/ https://old.reddit.com/r/CryptoCurrency/comments/ryzs07/bitboy_has_been_involved_in_7_crypto_scams_in_the/hru74j9/] (Sep 20, 2022)</ref>

<ref name="redditold-13392">[https://old.reddit.com/r/CryptoCurrency/comments/ryzs07/bitboy_has_been_involved_in_7_crypto_scams_in_the/ https://old.reddit.com/r/CryptoCurrency/comments/ryzs07/bitboy_has_been_involved_in_7_crypto_scams_in_the/] (Apr 5, 2023)</ref>

<ref name="etherscan-13393">[https://etherscan.io/token/0x6a454892AFfC8B2dD1C117070FB890fd964Ef79b?a=0xeaa40f6b29ce35d8f53f6bf9b2a7397e3d8475af ZAO FINANCE (ZAO) Token Tracker | Etherscan] (Apr 29, 2024)</ref>

<ref name="etherscan-13394">[https://etherscan.io/tx/0x57ec7cf01b78d504ec787ce357cb83f4e0a35801646f0f3b4a6c728cc78fc8e4 Ethereum Transaction Hash (Txhash) Details | Etherscan] (Apr 29, 2024)</ref>

<ref name="zachxbttwitter-13395">[https://twitter.com/zachxbt/status/1478082069892943876/photo/1 @zachxbt Twitter] (Apr 29, 2024)</ref>

<ref name="cryptodefilordtwitter-13396">[https://twitter.com/CryptoDefiLord/status/1303194611461042176 @CryptoDefiLord Twitter] (Apr 29, 2024)</ref>

<ref name="cryptodefilordtwitter-13397">[https://twitter.com/CryptoDefiLord/status/1303071158179434498 @CryptoDefiLord Twitter] (Apr 29, 2024)</ref>

<ref name="zachxbttwitter-13398">[https://twitter.com/zachxbt/status/1478082010807742468/photo/1 @zachxbt Twitter] (Apr 29, 2024)</ref>

<ref name="fatmanterratwitter-13399">[https://twitter.com/FatManTerra/status/1598491402110918656 @FatManTerra Twitter] (Apr 29, 2024)</ref>

<ref name="zachxbttwitter-13400">[https://twitter.com/zachxbt/status/1598604944923394049 @zachxbt Twitter] (Apr 29, 2024)</ref>

<ref name="hvcryptoversetwitter-13401">[https://twitter.com/HVcryptoverse/status/1620482090176507905 @HVcryptoverse Twitter] (Apr 29, 2024)</ref>

<ref name="0faithinvestortwitter-13402">[https://twitter.com/0faithinvestor/status/1303183606785900545 @0faithinvestor Twitter] (Apr 29, 2024)</ref>

<ref name="burntrxtwitter-13403">[https://twitter.com/burn_trx/status/1662409637105217536 @burn_trx Twitter] (Apr 29, 2024)</ref>

<ref name="0faithinvestortwitter-13404">[https://twitter.com/0faithinvestor/status/1306657737732956160 @0faithinvestor Twitter] (Apr 29, 2024)</ref>

<ref name="doodhwaladailytwitter-13405">[https://twitter.com/DoodhwalaDaily/status/1597116681427759104 @DoodhwalaDaily Twitter] (Apr 29, 2024)</ref>

<ref name="itsmidnightshowtwitter-13406">[https://twitter.com/itsmidnightshow/status/1621354793150078977 @itsmidnightshow Twitter] (Apr 29, 2024)</ref>

<ref name="protocolupdatetwitter-13407">[https://twitter.com/ProtocolUpdate/status/1523479857857908736 @ProtocolUpdate Twitter] (Apr 29, 2024)</ref>

<ref name="rhinofitwitter-13408">[https://twitter.com/rhinofi/status/1587085046082584577 @rhinofi Twitter] (Apr 29, 2024)</ref>

<ref name="something27192twitter-13409">[https://twitter.com/something27192/status/1650073463913152512 @something27192 Twitter] (Apr 29, 2024)</ref>

<ref name="cryptodefilordtwitter-13410">[https://twitter.com/CryptoDefiLord/status/1303184064422326279 @CryptoDefiLord Twitter] (Apr 29, 2024)</ref>

<ref name="theinnoviotwitter-13411">[https://twitter.com/The_Innovio/status/1598574474382790656 @The_Innovio Twitter] (Apr 29, 2024)</ref>

<ref name="spadesinveststwitter-13412">[https://twitter.com/SpadesInvests/status/1607573479443816449 @SpadesInvests Twitter] (Apr 29, 2024)</ref>

<ref name="bycasecoldtwitter-13413">[https://twitter.com/byCaseCold/status/1599270266403553281 @byCaseCold Twitter] (Apr 29, 2024)</ref>

<ref name="aicoincomtwitter-13414">[https://twitter.com/AICoincom/status/1696415440019300700 @AICoincom Twitter] (Apr 29, 2024)</ref>

<ref name="solanalyytwitter-13415">[https://twitter.com/Solanalyy/status/1606957799065403392 @Solanalyy Twitter] (Apr 29, 2024)</ref>

<ref name="singh1aryantwitter-13416">[https://twitter.com/Singh1Aryan/status/1597374271466065920 @Singh1Aryan Twitter] (Apr 29, 2024)</ref>

<ref name="youtube-13417">[https://www.youtube.com/watch?v=HoJFrZSC56E Crypto YouTuber Exposes Themselves In a Lawsuit... - YouTube] (Apr 29, 2024)</ref>

<ref name="youtube-13418">[https://youtu.be/eknH99c3QjU?t=494 The Death of a CRYPTO INFLUENCER. - YouTube] (Apr 29, 2024)</ref>

<ref name="youtube-13419">[https://www.youtube.com/watch?v=pSPi8UkCbVs The Fall of "BitBoy Crypto" - Greed and Sponsorships - YouTube] (Apr 29, 2024)</ref>

<ref name="youtube-13420">[https://www.youtube.com/watch?v=tDsNBdX8jCI Insane Lawsuit Backfires - YouTube] (Apr 29, 2024)</ref></references>