This was posted by Dally and Capivarao on the safe.exchange, Safecoin name steal!

dallyshalla
" http://coinmarketcap.com/currencies/safecoin/#charts
anyone else notice this?"

capivarao
"what’s this? a steal of name?
https://safecoinclub.com "

What are the implications of this?

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It works now. I copy and pasted the post so there was a formatting issue.
The post is about the name Safecoin having been coopted by another organization.

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Ah, but “SafeCoin” isn’t SAFEcoin, so no problem.

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Oh my gosh why didn’t I think to create BITcoin so I could confuse the crap out of everyone and profit from it!? To be fare they prolly don’t know about the project but it is a tad annoying.

I seriously doubt they didn’t know about the project. Anyone who names a project or company today does at the very least a cursory google search of that name. At worst it is another layer of confusion for newcomers. And increased confusion = slower adoption.

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Scammers then (20 characters)

Not necessarily, safenet was the name of a company before we came up with SAFEnetwork. Are we then scammers?

Fare enough. Safenet/SAFEnetwork, SafeCoin/SAFEcoin. I really like the acronym of SAFE and what the name entails sometimes I wish it were a bit more unique so it really stood out but hey.

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I have looked into safecoinclub.com and it does appear to be a pump and dump imo. I can follow up with reasoning for this if you like. Maidsafe are not scammers but safecoinclub.com, who have a crypto coin called safecoin does seem to be riding of the reputation of the safe network to scam un beknowing newcomers. I think we should make it clear to everyone reading this that Safecoin on Safecoinclub.com is a scam and nothing to do with maidsafecoin or the safecoin we will be using.

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I just LOVE your almost-hidden irony lol! :smiley:

I would be highly interested in this, yes, since I cannot read Chinese. We (or better: MaidSafe) should build up a good reasoning and send to crypto press reps.

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No irony intended. I don’t see a problem continuing to call our coin SAFEcoin.

I expect that the exchanges will make the distinction clear because it is in their interest to avoid their clients getting confused. Not only the letter-capitalization but also the logo, which they display on the coin’s listing. Safecoin is a featureless gold disk, whilst the Penrose Triangle of SAFE (as good a choice as any) is very distinctive. Also, there’s the abbreviation that is characteristically used for a currency. Safecoin is “SFE” while MaidSafeCoin is “MAID”. I imagine that SAFEcoin will be either “SAFE” or “SFC”. Lastly, that site displays only the top 100 coins on their global listing and SafeCoin isn’t on it nor likely to be, while SAFEcoin surely will be once it launches.

So, no problem.

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@New_Rumour

I think we should make it clear to everyone reading this that Safecoin on Safecoinclub.com is a scam and nothing to do with maidsafecoin or the safecoin we will be using

Evidence and reasoning… yes please. I was not defending SafeCoinClub but pointing out a flawed assumption.

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It came up to me in Korean, which I can read (just can’t understand :joy_cat:) but they do indeed have English, Japanese, and Chinese versions as well. Other than that, does that page even work?? It looks like some kid put it together, and I’m not sure what happens to your bitcoins if you send them some…

With all respect, I strongly disagree. What we see here is plagiarism, I think. Or, the practice of taking someone else’s work or ideas and passing them off as one’s own. That’s theft, fraud, infringement of copyright, whatever you want to call it. Of course it’s not an issue to still use our name SAFEcoin, however, for many this will be kinda, or lots, confusing. It might hurt or destroy MaidSafe’s professional reputation. And no doubt it will have monetary consequences for MaidSafe.

There are numerous red flags. The domain itself is only 3 months old. The email and addresses are associated with other recently registared high risk sites like jejucoin.com and jld.kr. According to scam advisor https://www.scamadviser.com/check-website/safecoinclub.com.

I just called the phone number and spoke to jonathan lee. i expressed my concern that this seems to be a pump and dump and told him the confusion it will cause using the name safecoin. He seemed well aware of maidsafe but claim the spelling is different. He is open to discussion regarding this via his email address which i have posted below

Whois Record ( last updated on 2016-06-06 )
Domain Name: safecoinclub.com
Registry Domain ID:
Registrar WHOIS Server: whois.inames.co.kr
Registrar URL: www.inames.co.kr
Updated Date: 2016-03-10T09:11:16Z
Creation Date: 2016-03-10T09:11:16Z
Registrar Registration Expiration Date: 2017-03-10T09:11:16Z
Registrar: INAMES CO., LTD.
Registrar IANA ID: 444
Registrar Abuse Contact Email:
Registrar Abuse Contact Phone: +82.25591004
Domain Status: ok http://icann.org/epp#OK
Registry Registrant ID:
Registrant Name: johnny
Registrant Organization: johnny
Registrant Street: 1 Gyeongsangnam-do Jinhae-gu, Changwon-si Dudong-ro 152
Registrant City: tmp_ecity
Registrant State/Province: tmp_estate
Registrant Postal Code: 645490
Registrant Country: KR
Registrant Phone: +82.1080090203
Registrant Phone Ext:
Registrant Fax:
Registrant Fax Ext:
Registrant Email:
Admin Name: johnny
Admin Organization: johnny
Admin Street: 1 Gyeongsangnam-do Jinhae-gu, Changwon-si Dudong-ro 152
Admin City: tmp_ecity
Admin State/Province: tmp_estate
Admin Postal Code: 645490
Admin Country: KR
Admin Phone: +82.1080090203
Admin Phone Ext:
Admin Fax:
Admin Fax Ext:
Admin Email:
Tech Name: johnny
Tech Organization: johnny
Tech Street: 1 Gyeongsangnam-do Jinhae-gu, Changwon-si Dudong-ro 152
Tech City: tmp_ecity
Tech State/Province: tmp_estate
Tech Postal Code: 645490
Tech Country: KR
Tech Phone: +82.1080090203
Tech Phone Ext:
Tech Fax:
Tech Fax Ext:
Tech Email:
Name Server: ns3.hostcenter.co.kr
Name Server: ns4.hostcenter.co.kr
DNSSEC:Unsigned
URL of the ICANN WHOIS Data Problem Reporting System: http://wdprs.internic.net/

For more information on Whois status codes,
please visit https://www.icann.org/resources/pages/epp-status-codes-2014-06-16-en

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Good research, thanks! Another red flag for me would be that they pretend to be an exchange, but handling SafeCoin (only?) and as such SafeCoin is listed on Coinmarketcap. Why does an exchange need a coin, and why does it need a coin with a reputable name hold by another party?

Investors in this Korean SafeCoin bring that price higher, not the MaidSafeCoin price. In case of a scam discovery by the market, tanking of the Korean SafeCoin price might have traders confusing MaidSafeCoin with SafeCoin, dumping the MaidSafeCoin too.

If the fundamentals are there then it’s all good. Let fools and short-sellers dump their coin, which means that one can buy more.

Yes he seemed very uncomfortable answering my questions over the phone but to be fair to him he said if i want to continue the discussion further then his personal email is jleefly00@gmail.com.

c-cex.com list and delist scam coins all the time so i cannot imagine safecoinclub.com surviving longer than 12 months. They are not the first cheap imitation of cyrpto currency safecoin, and they won’t be the last. There are other blockchain based crypto websites out there like safe.cash and my guess there will be many more. Safecoinclub.com are in it for the short term pump and dump gains, maidsafe and the safenetwork are going to be here for the long haul.