Leofinance's daylight robbery [a call to action]
Ok it's official - INLEO vel Leofinance has stole my funds. STOLE.
If you're invested in Cubdefi or Polycub, your funds are being stolen as well.
Leofinance has created a HBD iteration on Binance Smart Chain (BSC) called bHBD and pegged it HBD at 1:1 ratio.
bHBD contract https://bscscan.com/token/0x874966221020d6ac1aed0e2cfad9cbfee0ba713b
*source https://docs.cubdefi.com/mechanics/multi-token-bridge
That's gone
I didn't want to exit Cubdefi to get Leo token and just pooled out my liquidity of CUB-bHBD pool, swapped remaining cub for bHBD and used the bridge to deppeg.
The Leofinance has taken out most of HBD and now they offer to pay me about half of what they owe. Yes, OWE. They owe, because it's them who have taken out the bHBD out of the pool/bridge, staked it in HBD savings, earned a ton out of it.
This situation isn't unprecedented in crypto world, but it's something I haven't seen on Hive. It's even more surprising since the InLeo is now doing some integration with Maya protocol or whatever - they're about to do it again.
The audacity of this. I can't cope with the situation that a respectable member of the Hive maliciously takes other people's funds trusted to him and the community does nothing. Please help. All I want was to get my HBD back even with their 9% commission.
If you want to know more go to https://hive.blog/hive-167922/@jocieprosza/is-inleo-broke
You guys got to know it
@mightpossibly @lbi-token @silverstackeruk @valdiva @brianoflondon @mes @paulag @caladan @bozz @d-company @x30 @toni.point
Yeah, it's pretty ridiculous. I tried doing the same and here is my interaction with them. They have put me on hold until they finish the new DEX...
The same here, half was bought for 1$ the other one was bought at about 0.5$ but with CUB
If this is the case, then why did you demand the entire amount get paid as if it was all bought for $1?
If you have a dispute with the calculation we came up with for your refund then you should have said something in the ticket.
You didn't mention anything in your ticket about this
Instead, you're asking here for 9%, not sure where that comes from. And 849,884.49 HBD? Also not sure where that comes from
Also seems it was left out of the post that you've been getting paid weekly for your last unwrap
If funds were getting stolen, how are they also getting paid out?
There's some important context conveniently missing here: the response is that ticket load is high because we are working through high ticket volume as CUB/pCUB are migrated.
Thanks for the reply. Yes I understand ticket volume is high. It's just frustrating for long-time supporters losing their bHBD savings value, and during a bull market too.
can you clarify that you mean “losing your potential HBD savings interest”
Not actually losing $$ but the speed of getting it back to earning % Apr from the hive blockchain.
Clarifying this is important as some people like Jocie in this post are trying to claim LeoFinance is stealing money from them instead of clarifying that it’s potential profit (not profit or money they currently hold).
And yes, ticket volume is insane right now. God bless nifty who has to sit on the front lines and help everyone while being yelled at
I was speaking about its current value, not interest. Its face value is 60% but it can't be swapped without losing another 50% or so. I'm not saying there is any theft but the speed (and communication about) of it getting back to peg is important.
doing our best. You can always unwrap and show proof of what price you paid for it
If you bought it at $0.70, then your $0.70 will get honored less a smaller fee.
If you bought at $1, then we honor that as well.
Jocie is complaining in this post because we won’t double his money on a $0.50 peg buy and convert to $1.
Happy to honor the peg purchase price as that is what the goal of the token is. Feel free to add more details to your ticket if you continue to unwrap
Thanks for the info. Yeah, I am wanting to unwrap but it's been 12 days since my ticket request for a quote. My ticket number is 1802. I have many transactions for bHBD so I'm not sure how how to estimate the average price. The majority of bHBD I purchased was at $1.00 as I was providing liquidity to bHBD-bUSD. I withdrew liquidity as the peg was lost at around December 2023 and then tried slowly buying back at around $0.80 before it dumped further.
You can see my transactions here: https://debank.com/profile/0xe6c0634d02ae5f136500ac9428ed5d9576695ef9/history?chain=bsc&token=0x874966221020d6ac1aed0e2cfad9cbfee0ba713b_bHBD
make sure all of this information is in your ticket and it will of course be honored
Thanks. Will do.
Mogę Ci jakoś pomóc przez nagłośnienie tematu czy coś?
Oczywiście to nie zaszkodzi. Czekam na reakcję witnessów, więc poczekaj z tym chwilę.
Z tego co mówił Hallman, udostępnianie nic nie daje (bo to nie fejsbuk), ale kliknę, co mi tam. Jakby trzeba było narobić krzyku, to wal. Mam w tym wieloletnie doświadczenie jako troll :D
Hahaha D oczywiście będę raportował jak sytuacja się będzie rozwijać
I started moving my BHBD a while ago. I had 440 in the queue and that is when they imposed the 13 week "power down". I have about five payments left now, but they are each taking about 20 days to happen. Meanwhile you know they are earning interest on my HBD.
This is not true
Each one is taking 20 days? Can you prove that or did 1 of them take a bit of extra time and all the others were on time?
Please provide on-chain links before accusing.
There you go. Yes, the first couple were pretty timely, but the last couple have taken increasingly longer. The original promise was once a week. Then the promise was sort of a week because it is based on block times not actual days. It's pretty clear from the image though that a week turned into 10 days, then 12 days, then 20 days, then another 20 days. I've resigned myself that I will get my funds whenever I get them at this point. I don't doubt that Leo will make me whole, but at least take responsibility for the broken promises or misinformation even if it wasn't intentional.
It is roughly every 7-8 days. We have talked about this in countless AMAs, blog posts and threads. Also on discord and in tickets.
For some reason there are a handful of people who haven’t been keeping up with updates but decide that since they haven’t seen those updates / notices, they don’t exist.
This stuff is all on-chain people. We can link to it.
Instead a few people are spreading false messages. It’s horrible ethics. I wish people would take the 15 minutes it requires to find this information is inaccurate.
We talked about that one payment which was delayed. The others have normal block delays. We built this script to refund people and mean everyone whole. This has cost well into the $100k+ range for me personally. All of that profit went to arbitragers. We could have left everything in the dust and the users would have eaten that cost. But we didn’t, we made sure that users don’t lose a penny if they have a little bit of patience and work with us in tickets.
First of all
Please use facts when you write a blog post accusing theft. If you are unsatisfied with the response you got in your ticket, you could work with us in the ticket to resolve why we came to the conclusion we came to and then dispute it so we can figure out a solution.
Instead, you're writing this post and skipping over some pretty significant facts. Some people will now headline read this and get the wrong impression.
I'm looking at your account and you paid $272.98 for 443.874 bHBD
Guess what we said you would get refunded? ~$272.98 HBD
The real complaint here is that you won't be able to turn around and make an instant $171 profit. Despite the fact that the UIs all state this variable fee is in place after the de-pegging event.
So did you get $171 stolen from you or are you just upset because you won't make $171 in instant profit even though we've stated both publicly and over discord that this is not how the peg works?
Hi, I'm happy to reply right away.
I did and the response I got was "We can send back the bHBD if you prefer".
I offered you a ton of chances to come clean - in posts and comments. F.e.
CUBathy - do you have any bHBD or CUB?
HBD interests - CUB governance in test
I'm sure you can look for more than just the TX but to see that half of the bHBD came directly from CUB swap - as it was all pooled into CUB-bHBD pool. And the $171 instant profit you mention is actually $171 a loss reduction - a loss made purposely made by you turning off the bridge, pulling HBD out of peg and staking them for your OWN profit. If you hadn't taken out HBD, you would have it.
I really like the term 'de-pegging event' describing an event that you forgot to tell anyone about, that was discovered when Splinterlands voted for a proposal to hold funds in HBD and they thought of using your bridge. Here you have @lordbutterfly post Splinterlands DAO - 500k HBD purchase proposal not passing
The facts are:
This is what I got for trusting you. How this is different from what Sam Bankman-Fried did?
you have so many inaccuracies in this comment, I don’t even know where to begin
To start, you called us LeoFinance. Clearly, you haven’t been tapped in to the updates we release. So before you go around saying we never told anyone about this, perhaps it’s a good idea to educate yourself on the hundreds of threads, blog posts, comments, discord messages and months of AMAs where ALL of this has been addressed six ways from Sunday.
Your claim on bHBD is based on the $$ spent for the bHBD. We made this change over 6 months ago which was well before you bought your bHBD at the current price.
In your conversion, you would not lose a SINGLE PENNY. Yet you continually claim the opposite.
I’ve said now in multiple places directly to you that if you feel our TX records are incorrect and you did in fact purchase the bHBD for a higher average price, we would honor that new price
Yet I haven’t seen you provide any TX evidence of this. Only spreading false rumors and accusations with no proof.
I’m more than happy to resolve this for you as I’ve done in the hundreds of tickets that came before you where $1 for $1 was honored. But you’re not allowing that to happen. Instead you’re calling people liars and thieves with no basis in fact of on-chain evidence.
When you’re ready to actually resolve this, provide the TX links and your average purchase price in your tech support ticket and it would be refunded that day.
But if not, keep spreading these false rumors that I can dispute with hardline links to blockchain transactions, months of AMAs, blog posts, comments, threads and information on-chain.
bHBD and HBD were swapped 1:1 so leo finance received 1 HBD for every bHBD you wrapped. Therefore no matter the price 1 BHBD = 1 HBD.
Working on your theory of paying back only what someone paid for bHBD on BSC is ridiculous. If you pay someone 50 cents for 1 bHBD then Leo finance makes 50 cents.
Not sure what you don't understand about wrapped and unwrapped tokens having the same value
Just explain why 1 bHBD doesn't equal 1 BHD
this is incorrect
If you wrap it, then yes it is 1 to 1 and we honor that
What is being discussed here is entirely different.. these users bought bHBD for $0.50 on the $1. They did not wrap any HBD. They swapped BUSD for bHBD at a discount because of a de-peg attack. Nobody is losing money or making money in that scenario.
For example: say you swap $2 for 5 bHBD.
When you unwrap it, we are paying you 2 HBD. So you just paid $2 for 2 HBD.
Josie is mad because he wants 5 HBD for his $2. That is the problem here
We're very open and transparent about it. If you want to ask questions, ask them. But don't spread false rumors with no TX data to back it up.
Every ticket od discord has its own TX presented (if it wasn't the case, why should you offer anything)
I'm not sure exactly what you're saying in this comment.
It's up to the user to provide us their TXID for transfers. Discord can't automatically read the blockchain
When we dig through TX records - as we did with your ticket - we find the purchase price of the bHBD being unwrapped.
If you didn't agree with the findings of your ticket (which you screenshotted in your post above), then you could have appealed that to us and showed us different TX links to back your appeal.
But you didn't do that. You said "no no no" in your ticket, then wrote this post. There is no on-chain data backing your claim in this post nor in your ticket.
We have the actual on-chain links we used to calculate the price quoted in your ticket. If you're able to provide conflicting links that show a different price we are more than happy to honor that quote. But you haven't done so. You still have the opportunity to provide those TX Links in your ticket, so I urge you to find the TX Links to back your claims above and then paste them into the ticket. If they check out, we'll revise our price.
I'm also not sure if you will resend any of your statements in the post above but there are many inaccuracies and you're also claiming that we're stealing money. None of these claims are true and again can't be backed by on-chain evidence.
You're harming our reputation and our community by spreading false rumors. I would ask you to pull back or modify your statements and appreciate it if you clarified your post. If not, It's totally fine and everyone is entitled to their opinions but I dislike that these things are stated as matter-of-fact without any evidence.
On-Chain Links I Was Referring To:
That's why I cashed out of Leo - everything they say is a lie
thank you for leaving early 🙏🏽
You should never stay involved in something you don’t believe in. It’s bad for you and it’s bad for all the people who believe in it.
Everyone is entitled to their opinion. While I see you saying everything is a lie without any proof, I appreciate your opinions and the feedback we get all the time.
What a shit show!
I bought BTC for $5k, do you think if I try to sell it for $60k today, the exchange is going to say, no no no, you only bought that for $5k so we'll give you $5k for your BTC and because it's in our terms and we're the only shop in town, you'll get fucked or you can hold your bag.
What does it matter what @jocieprosza paid for it? The person who sold it took the loss and that $171 profit does not just disappear. If LeoFinance is paying 272 HBD for 443 HBD, then that $171 is going into LeoFinance's pocket. They can dress however they like with terms and conditions are whatever but people see things as black and white. This is pretty disgusting if it's true and I feel like I need to shower after reading the post and comments.
If they had a working bridge, none of this would have been an issue and the price of bHBD would never have dropped to 50 cents in the first place.
hi before you comment I would urge you to learn the facts.
Nobody is earning this $171 profit. Read the other comments in this comment section.
We’re honoring $1 in and $1 out. The leg was depegged and we are preventing users from losing $$
How do we do this? By honoring $1 for $1. Not the current de-pegged price.
It’s impossible for us to profit $171 here. I’m not sure where you’re able to back into that math.
Please read the comments above before making baseless accusations without any proof
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