Bee Token was derailed by a phishing scam

As we have written before in a previous article, we think that Bee Token is a company with a lot of potential because they were trying to create a decentralized version of Airbnb. Thye have a great white paper, great branding, great UI design. However, following the ICO protocol, on the January 31, everyone who is accepted onto the ICO whitelist has 24 hours to invest in this.

Unfortunately for BeeToken, scammers made an identical website to the BeeToken one which has been removed and also managed to access their whole email database.

Every single person that applied to be on their whitelist received a fake email that was announcing the opening of the crowdsale. The email was also announcing a change in the contribution maximum limit.

Within six hours, they’ve made a minimum of 556 thousand dollars.

As an overview, BeeToken will probably lose many potential investors because who would want to invest in something that has been hacked before it went live.

The incident is even worse, because it has been promised for the investors a secure service based on blockchain. As BeeToken is working on Ethereum Blockchain, the investors can claim their money.

As a conclusion to BeeToken and its attempt to revolutionize the renting industry, Blockchain is not the solution to every problem.