SoMee’s Last Effort To Take Your Money

I’ve covered SoMee many times before. This is my final warning to stay as far away from anything related to SoMee as possible. Let’s dive into the details.

This is my 508th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

For the full blog breakdown:
Publish0x: https://www.publish0x.com/at-scottcbusiness/somee-s-last-effort-to-take-your-money-xyyrlgg
Read.Cash: https://read.cash/@scottcbusiness/somees-last-effort-to-take-your-money-2eb40990

To be clear, I thoroughly used and tested SoMee for over 2 years. I was using it up until February 11th, 2022, when I decided I would put SoMee to rest as malicious and that they will never improve their platform or fulfill their promises. Their planned incompetence has gotten them very far, but it’s time to call it what it is and leave them for good.

Conclusion
For 2 years SoMee claimed they would come out with all these innovative revenue models and had all these MASSIVE influencers parroting these points even though none of it was ever real. None of them did their due diligence and this was amplified by massive influencers like BitBoy who failed to disclose that he was likely paid and more importantly that his lead researcher was working on the SoMee team until at least 1 year after his original post about SoMee. He is still listed as being part of their advisory board and on their team today. The real concern here is: was he complicit in one of the biggest crypto social media scams in history that are still underway?

Everything their marketing was based upon was simply celebrity influencers. Even BitBoy 2 years ago said they had people bigger than him coming in to promote the project which didn’t really happen and if you consider the small celebrities and influencers they snagged relevant, well it was clear they didn’t know what they were promoting either as they likely read off the claims SoMee promised from their paid scripts.

All of these people claimed SoMee had features and things that made it unique and different from everything else and it wasn’t true.

I want to be clear, this isn’t about me going after the influencers and people who promoted SoMee as even I had an interview with the CEO when I first learned of it. There is nothing wrong with not knowing something is bad, but it should be more than obvious now that SoMee acted out of malice and that continuing to passively endorse it with old content is wrong. Furthermore, they should all come out and apologize to the people who lost money and disclose how much they were paid in this whole mess.

Now SoMee is just a Hive community and nothing about what SoMee was claiming was done by SoMee, it’s just Hive which received no credit. They were also supposed to integrate with Cardano through CardStarter which never happened.

The scariest part about all of this is that the influencers never really used the platform and if they did, then they were lying to you. None of them mentioned that you can’t get your funds out, that it wasn’t really decentralized by any means, and most importantly, they weren’t really using the platform.

A quick check on any of the influencer accounts who touted SoMee as being so amazing leads you to find that they don’t really post or use the platform. If it’s the most amazing social media platform ever, then why aren’t they using it?

SoMee offered MASSIVE rewards for posting because the rewards weren’t real and thus were able to trick enough people into thinking they would get rich by using the platform. It’s also very important to call back to the massive amount of SoMee they had claimed to have burned. Luckily, they were able to get around this loophole as well as the mass amount of dilution and fractional reserves they had for ONG by doing an airdrop onto Hive with a new token that they could just put up with a completely new supply at a price worth a fraction of the old token.

In the nearly year-long period where users had no access to funds, SoMee clearly devised an exit plan to get their funds out without ever paying back or even giving access to funds to their investors, users, and paid influencers. Essentially everyone but the team was screwed in this process and lost almost everything. To this day, no one from the team nor any of the influencers has addressed what has happened and they are now raising funds for a private company that has raised over $250,000. This is still ongoing, and it is very likely a full-on exit scam now.

I was in several groups with early investors during a lot of this journey who were all very concerned about what was happening. These were the select few who were willing to pay $100 to verify in order to access their funds. They were all too scared to speak up and so I was doing that on their behalf publicly to the main group. Eventually, I was banned for asking too many questions. They may claim otherwise, but I didn’t insult anyone, I never cursed, I was perfectly polite, and only ever asked simple questions to be answered. The issue was that they believed the CEO’s word and ignored the red flags. Eventually, it was too late, and they were too deep to be able to get their money out and had to sit through like everyone else. SoMee’s Telegram was shut down after too many people asked questions and wanted clarifications: https://t.me/onG_social

It may also be worth mentioning that when I wanted to verify, they required fiat payment processor methods and not crypto which I found very odd. I wanted to instead pay with crypto and while they claimed it was possible, they were unable to do it. So, they just instantly verified me even though they claimed it wasn’t possible and there were legal requirements around KYC which is why they had it in the first place. They continually blamed their old dev team which an insider has told me was their scapegoat on purpose all along as well as claiming that they needed KYC for legal compliance.

I think it’s important to mention this as it seems like to me SoMee did the slow rug pull where they simply continue making delays and raising money again and again which is exactly what they’ve done and are doing still.

This is one of the most iconic cases of not relying on “authoritative” sources or influencers to actually do their due diligence to look into this kind of thing. The people who endorsed SoMee barely used it and knew very little about it or they were malicious.

They raised funds and executed what appears to be an exit scam MULTIPLE times. They are now on one of their last iterations of this with Republic and likely again with their DAO and I’d like to protect as many people as possible.

It’s impossible to say how much was actually lost with all of these raises and coin conversions etc. But I think it’s fair to say that almost anyone who invested in SoMee lost money aside from maybe the staff and selected influencers.

This is my last post covering SoMee as I’ve already said everything, I can say about it on multiple occasions. However, while it’s clear that it is, I won’t definitively say it was a scam for my own protection. Watch out and I wish you all the best in your crypto ventures in the future.

Have you ever used SoMee? Did you invest in SoMee or ONG? Do you think I missed anything or got anything wrong? Let me know what you think about this in the comments below and don’t forget to subscribe!

Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated

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