@Jared oh okay. The prompt I remember told me the transaction was in progress or something that’s when I realized what I was getting.
Please anytime you can do to help me!
(Answered) Help, only received a fraction of BNB to USDT swap!
Unfortunately, there is nothing that we can do. As with anything crypto, once the transaction is placed the transaction is placed. I sympathize with you, that is quite a bit to lose.
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@Jared please can we send out a note to those running the bots about this? The person may have mercy on me and refund the money?
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I’m just requesting @Support reached out to the community running the boys. Maybe the user will realize this was an unseasoned person who made a mistake with this transaction, and refund the money to my address. I’m human, and the user who received the money is also human. Please help me with this!
Anyone could run a bot. I’m sorry but we don’t have a registry or something.
Please can you bring this up with your team to deliberate on if anything can be done. Please try something!
Can’t believe what I am reading! Is it true that there’s is nothing to be done on this matter?
@Support kindly do your best on this! It’s highly painful!
@Bandix123 @KingOfCrypto The team cannot do anything. That’s why I’ve advised @Bandix123 to write his address here. Maybe the arbitrageur can see this topic and show some mercy (but no obligation for this, it is completely legal). Even we cannot track him/her since Incognito is a private chain unlike Ethereum, Bitcoin etc.
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@abduraman thanks for the reply.
My address is
12sgFVsS6KcUSv4AbHXnL2ZykWgyPf3o6NfFSeKHh8gBWbQ88YT2C3MgAPRi2thXr5xyY2BFdakeXghpuyGR2MCC2pZuRMs7QDQ6uE3YPyKAoWxi3mf1kjF8vhnQeMdF9XktYEJEe8czR8DnYNJQ
@abduraman if this is the case, I advise that @Support give us a write up on how to be careful with such situations like this because it’s very disappointing.
I mean a topic on this that will guide the whole community against such incident not to repeat itself, because this can be a kind of discouragement to the users!
I pray 
to the person to have mercy on a friend @Bandix123
As well we are waiting for Guidance Write Up on How to Avoid this kind of Disheartening Situation, we sincerely need it. And if there’s one already, kindly share the link.
[quote=“Jared, post:4, topic:14804”]
https://we.incognito.org/t/im-gonna-be-sick-lost-money-on-trade/2260?u=jared[/quote]
This is what show up from the link you share, what really the problem?
You guys might be too new here to realize that the Abduraman is the leader of arbitrage monitoring on incognito. He profits off of users making mistakes like this. You can see this in his defensive stance (it’s legal!)
You can also see this in archived posts around this project. The arbitrage service he built was called inquery – check around. He abruptly shut it down so other humans no longer access it.
You see what I am getting at? Welcome to our little corner of Hell.
Bandix123’s funds were stolen by the rampant and obvious arbitrage bot trading that became pervasive on Incognito “coincidentally” when Abduraman hid his arbitrage service.
It’s an insult to our intelligence to suggest that Bandix’s funds were stolen in 1 minute by a lucky human. A bot swept those funds. We all suffer for it.
Lastly, don’t let any doubt from the “Jared” / “Luke” mysterious new community manager (who goes by multiple names and was never introduced to us by the devs) confuse you about this any further.
Arbitrage is a key component of trading ecosystems. Arbitrage opportunites can be found between DEXes, CEXes or both. AMM-based DEXes tend to have high volatility in liquidity pools and thus attract more arbitrage traders.
Sour grapes much? InQuery was a service you seemed particularly fond of –
– and wanted to see restored once he took it offline after the growth team was dismissed:
Arbitrage is hardly unique to just the Incognito platform. Without arbitrage – whether by bot or human – AMM based DEXes like Incognito’s pDEX would have substantial difficulty rebalancing liquidity pools causing trade slippage to increase exponentially. InQuery was primarily focused as a tool to highlight price differences between the pDEX and CEXes like Kraken and Coinbase. “Hiding” InQuery would have no effect on the prevalence of arbitrage bots. Arbitrage bots certainly existed on Incognito well before InQuery.
Bots are still controlled by a human somewhere. Skynet is not upon us … yet. Bot or not, there is still a human at the end of every trade.
Here is the dev team’s most recent acknowledgement of @jared (@lukemax on Telegram):
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Infact, I am almost speechless but I won’t permit myself to be speechless. If what @key was saying are really true. And will not be considered as FUD, I want to tell us that it’s very bad to hear that such things are existing in a crypto community that are just starting. One Arbitrary or bot controlled by wicked people can’t steal such huge amount of money from me and expected me to be speaking praise or good of such community where it happened.
I wondered too, when @abduraman spew out such unholy words that stealing is legal.
In my own believe from this side of the world, I believe that any community based upon lies will not stand forever. Let’s be warned.
I checked BNB BSC as well on the app, i can noticed that the amount of BNB that’s there is not up to 1 BNB, which is very bad. If we are to build this community, let’s built it together in truth, not in such a way that we will be causing our fellow human beings to cry.
In our own Fishbelly Charity Coin Republic, we have the goal to get rid of poverty, hunger and illiteracy. And that’s why we choose incognito as a collaborating network to deploy our FBY Rights ($FBYR), the people that will follow me to join this community will not be happy to here all this bad news I am hearing.
The success of this community should be our ultimate goal together.
I am now appealing to @Support @khanhj and whosoever is a leader in this great crypto project to do everything necessary to help refund @Bandix123 money to his wallet.
Nobody stole hard earned money from his fellow human beings and go scot-free, he will surely suffer the consequences. Those who do that use to end up in poverty.
Let us all rise us to help @Bandix123
Shalom!
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I really do empathize with you @Bandix123 it’s a really punishing and easy mistake to make. I really hope whoever did profit from it returns your funds. Not many people can lose $10k.
I’m not sure it’s fair to single out @abduraman either nor implicate him as the responsible party. There’s no hard evidence for it and even if he did, it’s fair game.
Anyone with any financial experience knows that arbitrage is a necessary component to a functioning & efficient market. Mike’s points on AMM slippage are completely valid.
I also agree that it’s important when you have a small community to ensure people have a good experience too.
It’s kind of a shit no win situation. The team shouldn’t be expected to bail out people that make erroneous actions but at the same time it’s a significant and easy mistake to make.
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I’m busy now. I’ll answer @key ‘s baseless accusations later. @Bandix123 just be sure that your funds are not in my pockets. If it was so, you would receive your money.
And @KingOfCrypto yes, it was not a defensive sentence and I’m repeating again: “Arbitrage is completely legal” but sometimes may not be ethical depending on the situation (like sandwich arbitrages)
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I also want to highlight that this issue is not incognito-specific, it happens every day on a lot of chains (eth, bsc, avax etc.) and there’s thousands of token pairs across DEXs on these chains that have almost 0 liquidity (PRV-ETH right now has 0 eth on uniswap https://info.uniswap.org/#/pools/0x56c897320b47bd509e50d05e20cbced28671249a).
I know it’s too late now but please educate yourselves on AMMs and how liquidity/slippage works in DeFi, before investing your “life savings” into something you do not understand.
Further, before you placed your trade you should have double checked pool liquidity and actually READ the app prompt that says “swap 17.6 BNB to 510 USDT”. If you are ever not sure about these things, step back, do your research and proceed once you are sure. You can’t just rain chaos and demand a refund after placing a bad trade in an open and permissionless DEX. You are responsible for your trades and this should serve as a learning point moving forward (I also lost thousands in the early days of uniswap so I get your pain).
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Now, I have some time. In fact, I shouldn’t answer the claims of such a serial slanderer. Anyway, let me start.
Based on what? InQuery? InQuery was not an arbitrage service but “had” (not “was”) a service to highlight arbitrage opportunities between pDEX and some CEXes as @Mike_Wagner said well. I would add some beneficial insights on the network data other than the arbitrage opportunities. So why did I shut down? I frequently had tweeted about InQuery to attract people and to increase pDEX volume but the growth was suspended. This might not so much a problem but the team started to modify the things which InQuery used since they focused on the development. Initially, I fixed some little issues but then InQuery caused some people (or maybe one person more. as @Mike_Wagner stated, there were arbitrage bots before InQuery) to run spammy arbitrage bots. This was against my initial purpose (i.e. attracting manual arbitrageurs/traders). In addition to maintenance issues and those spammy bots, my health issues arose again (as I said to Jared in one of my DMs) and I decided to shut it down since InQuery required maintenance.
Now, as I said before, arbitrage is completely legal but sometimes may be unethical. I think some people consider Incognito community as a closed group and everyone will behave ethically 
Not at all. Like in Ethereum or some other networks, eventually some “unknown” people will come here and develop some unethical arbitrage bots. What will you do then? Will you beg for refunding? There are many discussions on this issue. Please find and read them. Some keywords: MEV, arbitrage, front-running, sandwich bot, flashloan.
I lost some money due to those unethical bots but I didn’t complain about the bot owners since they were my faults. Even more, as a developer, I haven’t applied the same unethical strategies to other people and I’m trying to inform the other people of such strategies as time and my knowledge permit. The post below is just one example of this.
And the post has worked. After my post, as I see, nobody allows the bot to grab his/her money.
Who said this? Jared? Just a slanderer can infer this meaning from the sentence below. I think you should read it again.
@key A life-saver advice: Before accusing someone, do some literature search, try to question yourself, consider the issue thoroughly, and then find some strong evidence.
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thanks @abduraman for responding in a mature and well mannered way. Infact, the progress of this incognito project is my own concern. I just want us to work together to keep this community safe.
My dear people in @Support it will be too early for this community to be witnessing discouraging incidents.
Please, let’s work as a family to move this project forward and not the project alone, it’s will be good and even best, to make sure we support our individual reasonable projects as well, so that testimonies of greatness will be coming from every single person that adopt incognito community.
We should be aware that we are just writing history. If I achieve my goal here and you achieve yours as well, it will be on record. I am talking about goal that affect another life positively not negatively. Because negative people don’t last!
I hope the person should see the post as you’ve advice him to state his wallet address there!
Shalom!
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