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Lost $30,000 due to a scam by the @PortaltoBitcoin project.
This story has been going on for five years and is quite long, so let me summarize it for everyone to read:
1,
In 2021, I believed the sweet promises from the @PortaltoBitcoin project that I was one of 1900 lucky people selected in the "highly selective" whitelist round.
The minimum investment for the project is $25,000 and the maximum is $500,000.
But it later became clear that everyone could buy it because the developer was a scammer; sending money to the developer was such a good thing.
2,
I haven't sent the money to the developer yet.
And then the project team continuously made frequent video calls with investors like me to paint a picture of the amazing deal:
"The public sale is just one week away, and TGE is coming up right after that."
3,
I trusted them and transferred $30,000 to the project as per the Convertible Note they sent.
Contract:
drive.google.com/file/d/1Yf2VJ...…
TX transferred 30,000 USDT: etherscan.io/tx/0x1741be409bea...…
They don't sell shares directly.
They sell them as Convertible Promissory Notes (Series 2021-0004).
This contract acknowledges that I lent the company money ($30,000), with interest at 5% per year and a Valuation Cap of $480 million.
The contract clearly states that if the Qualified Financing target is not reached by the maturity date of December 31, 2022, the company must return the principal plus interest.
I signed the contract + Accredited Investor Questionnaire and transferred the money to their designated wallet.
Address for receiving investment funds:
Ethereum (USDT/ USDC):
0x3A9F87759bF38E9AEA130a111F01ba258A4F369D
Bitcoin:
bc1qp7tmz7q08hvc7g24dncv2vrrm99djczalvdups
Checking the developer's wallet shows that the investor's funds have been transferred into the wallet, and then gradually transferred out by the developer via swap, transferring small amounts to Tether/ Circle contracts.
My wallet is almost empty now: only a few loose USDT left, ETH = 0, last transaction was nearly a year ago.
4,
To date (2026), more than 4-5 years have passed.
By the deadline of December 31, 2022, the project had failed to pay any principal or interest as per the contract.
Instead, they spammed me with emails constantly, forcing me to switch to a two-step process:
B1: Force the conversion of the promissory note into actual equity of Tides Network, Inc.
(They claimed that "the majority agreed" but provided no evidence.)
B2: After becoming shareholders, they then force the conversion of those shares into PTB Token (PortaltoBitcoin's ERC-20 Token ).
Result: My $30,000 was forced to be converted into approximately 145,000 PTB. This Token is now almost worthless.
1 $PTB = 0.0006583$
So $30,000 = 145,000 $PTB = $95
More importantly, the project did NOT pay me Token.
Besides me, there are many other investors in the same situation.
The project has been a successful #SCAM, raising over $31 million from thousands of people.
I probably won't get my money back, but seeing this scam project where the money was spent and the owner's dog, Mr. Hac, is so annoying :))

It's too dark, sister.
It's too spicy, sister.
It's really spicy, my dear.
The person named on the contract is: Nguyen Dinh Nhan.
He's just one of the guys who played along and bought with Thin back then, that's all.
I'm not impersonating a guy to trick you guys, I swear :))
And we never signed any conversion agreement; they forced us to, nobody agreed to exchange money for the project's garbage.
If projects were as cunning as this, Vietnam would be full of them.
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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