Scammer Using Wording Trick to Cheat Bets on Ethereum-Based Prediction Platform Augur | Crowdfund Insider

A scammer is using subtle wording tricks to cause bets on crypto-based prediction platform Augur to default in his or her favour.

The scam was revealed by users of Reddit on March 20th.

In the post, “Augur is being gamed!” the poster “singlefin12222” claims:

“Some people (in) the augur community are currently pulling off this scam:

-Create market with very subtle mistake in the description (like non native english language)

-Scammers bet on the outcomes that will not win

-Scammers stake REP on the market being invalid

-All staked funds will be distributed equally. So scammers that bet on the wrong outcome will profit.”

Users of the Augur platform use a platform-specific cryptocurrency called REP to place bets involving other cryptocurrencies. REP is only used to permit betting and possibly penalize bad actors on the platform.

Augur has been criticized in the past for hosting so-called “assassination markets” where users bet on when a famous individual might…

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