Updated: February 1st, 2023. SG once again limiting withdrawals further, arbitrarily claiming it to be “first-come, first-serve” despite users already being notified by this new system that they need to wait almost 3 MONTHS for their tokens after their $20 fiat withdrawal.
Hello, all.
Voskcoin asked me directly to compile all information I have had as of late involving my own and many others’ faced experiences with the crypto-cashback app “SocialGood,” for which I made a SocialGood legitimate strategies thread on voskcointalk last year, in order to help out others make the most out of the app.
I would like to preface this first with saying that I am very grateful for initially both partaking in the SocialGood app and for Voskcoin introducing me to it through his videos during a time that I was very new to cryptocurrency trading, building computers and crypto mining, for which for me, SG was related to for all three.
Any and all choices made were my own, and when the going was good, it was good. Solid capital was being made and I was having a fun time with it.
Fast forward to now, once promised tokens of mine and others are now being indefinitely locked up in the app’s ecosystem itself, with an unreasonable and constantly changing new withdrawal system for anyone who spent more than $100 in the app, which is the case for most.
What I think is unbeknownst to Vosk is that there’s been a constant moving of goalposts despite the project continuing to claim to expand and grow long-term (which appears like they are if you were to only look at its cosmetically improving brand image, latest release of a browser extension and other “additions.”)
In addition to my own reasons, I’m also writing this on behalf of those who were less fortunate than me to get into SocialGood at a time when it was evidently the most predatory - right around the holiday season of 2021, after appearing to be what was seemingly functional and well-intentioned (albeit almost unbelievable) crypto project based in altruism for “social” “good” by spreading the wealth. Their website was later claiming that they take inspiration from the World Economic Forum for their philanthropic business model, and claiming to donate small amounts to organizations such as the Bill & Melinda Gates Foundation. I should’ve probably known right then and there what I was getting myself into for the long-term by realizing 3 months-in who they choose to associate with, but alas, here’s the story.
SG provided me with enough life-changing capital gains (many, many thousands) that I was making from simply spending money that was already going to be spent on household goods and everyday items purchased on eBay. I did this alongside buying GPUs that were needed to fill out my new mining rigs at the time, which Vosk wisely suggested on his first video.
I was able to build several rigs off of SG tokens alone, circulating my bi-monthly SG earnings back into more mining parts. I don’t regret using SG for months on end during this “SocialGood summer” in 2021, as I was one of the lucky ones to get in early enough because - for those that don’t know, you’d get back up to $500 of your spending money in cash on eBay matched in crypto by their SG token, 60 - 90 days later. A bit later, it was changed up to half of $10,000. It was a dream at the time, but it worked, to which Vosk acknowledged as well as being pretty unbelievable but still legitimate.
Before getting into the nitty-gritty of this thread and to point out what went wrong, the purpose of this thread is NOT to put blame on Vosk for my and others’ ventures into the SocialGood project. It is NOT to just complain about any current unrealized gains. It is NOT to complain about price changes in the SG token itself - which doesn’t matter to us for reasons I’ll explain. The purpose of this thread is point out the very obvious scheme the SocialGood project’s team has now been pulling on us since that time that they were actually paying their customers, that myself and many others have been experiencing since SocialGood have taken a turn for the worst.
SocialGood and their team are absolutely devilish - to say the least, because it’s not the way of your typical crypto scam. It’s cunning. And they started with telling us exactly what we SHOULD be doing to make the most SG tokens, in the tens of THOUSANDS, only to purposefully lock them up months later. I have proof of this - them telling their userbase to buy GOLD bars off of eBay, in order to make back half of their purchase in SG. As you can imagine, this was rinsed and repeated for MONTHS, with no intervention by the SG team. They knew exactly what people were buying off of eBay, and permitted it, despite hundreds of thosuands (sometimes per person) being made from their cashback promotions in a matter of a few short months.
It’s probably completely “normal”, “legal” and “is what it is” to people on the outside who haven’t seen things from INSIDE the app every step of the way - which is why I made sure to make clear to all of you what I WASN’T upset about regarding the way the project took a turn. It’s this “bait and switch” of TELLING their users how to make the most SG in their own app PREVIOUSLY, of getting up to $5000 in SG MAX at a time from a $10,000 ebay purchase (they increased from $500 back for a few months), just to gatekeep 99% of those earnings indefinitely at the mercy of their own terms, following a false flag “fraud investigation” which followed a sudden closure of withdrawals for 5 - 6 MONTHS. And the terms is the cherry on top of what I’m about to describe.
This was the order of the scam, step-by-step, from the end of August 2021 until now, early June 2022, a mere few days since the beginning of the month since they’ve “opened” limited withdrawals requiring fiat to reclaim, are now CLOSED again due to another B.S. excuse false flag which they’ve fostered, ripe for exploitation by the actual fraudulent users that they knew for a fact would exploit their ever-changing withdrawal rules, so they can delay things further and prevent anyone from getting a reasonable about of SG.
Step 1. Tell your userbase to buy and flip very expensive items up to $10,000 at a time, to make the most out of your earnings. For every price up to $10,000 you spend in cash, you get HALF in the SG token. They specifically used the example of their highest SG earning users at the time, who explicitly told them in an interview which they shared with everyone, to buy GOLD bars on eBay.
The email in which they suggested users to do this was titled “How to Easily Gain $400k Worth of SG” and was sent from their email newsletter on September 17th, 2021.
As what you might’ve figured out while reading, GOLD is an easily re-sellable item that you can sell for a more than decent value pretty much anywhere. Put SG cashback and gold together, and you can just keep buying GOLD from eBay every other month with the cash you’ve made off of the same gold itself, while still getting to keep your crypto cashback. Rinse and repeat. They PROMOTED this tactic, mind you, and saw it was being done increasingly so, from the end of the summer months all the way up to to the end of the year. The reason why this has any relevance in the problem that is SG and their long-term behavior, is that this was an INCREDIBLE amount of money for users to be expecting to take out. It doesn’t matter if you chose to buy gold or any other expensive item up to $10,000: The withdrawal problem that will be discussed in the final step, makes this SG and therefore, your money, virtually unattainable through $100 monthly withdrawal limits… that aren’t even open half of the time!
Step 2. Months later (December, holiday season) tell your userbase that are now familiar with the app (and the money that SG is telling you that you can make) that the referral bonus for new SG users are now a FREE $200 bonus for signing up. That’s a FREE $200 for both the referrer and referral EACH, for a total of $400 combined across the two legitimate accounts.
New potential users are now hearing about how good and legit the cashback on the app is for up to 50% of $10,000 purchases at this point, and they jump on in order to purchase something up to $10,000 for 50%, because clearly, it works up to this point, and they’re ALSO getting and giving a free $200 from the jump on top of that. They even extended this promotion for a few weeks until the end of January 2022, after it was expected to end before the new year. Keep in mind, for some of these referrals, this was their first crypto project. The SG team has made it very clear they want mass adoption, so these people not experienced in crypto really don’t know what they’re getting into and are going on good faith of the referred, like how Vosk was my referral and first exposure to the project in early May.
Step 3. SUDDENLY CLOSE WITHDRAWALS for an undisclosed period of time for the first time ever right after $200 bonus promotion is done for FIVE to SIX months due to a… fraud investigation.
This is where things start getting ridiculous.
According to them in an email, there were “heartless” users that took advantage of their $200 referral promotion - the perfect excuse to shut down withdrawals for SIX MONTHS after handing out HUNDREDS OF THOUSANDS in SG for roughly the same period of time.
Do I believe people did exploit accounts in order to take advantage of that promotion, which went against their terms? Definitely. I did not advocate, nor will I ever advocate, taking advantage of a good thing such as an amazing cashback promotion that the SG project initially brough to the table, but these are the same people that blatantly told us to flip hundreds of thousands of expensive items for months, too. To act like these fraudulent $200 referrals were a problem but their promoted buying tactics weren’t, is completely bogus - and to give that much referral money AWAY without KYC at the time, which they included soon after they claim the damage was already done.
Should we really believe they didn’t expect a group of users to take advantage of them? This is where SG and their leaders expect you to just take their word at face value, and they acknowledged NOTHING about our expected cashback for half of a year later. This was the false flag they needed to shut down withdrawals. I believe they knew EXACTLY what a fraudulent group of users was going to do, so they could shut down the payments of everyone. There’s no way a company with that much capital and allegedly intelligent leaders could not expect such a thing to happen without KYC. You’d have to be naive.
Only before all this were momentary withdrawal delays our biggest problem, that didn’t last more than a week or two in 2021 before being able to withdraw your SG in unlimited amounts. The “fraud investigation” was the beginning of the end for the 2022 version of SG that has now destroyed its reputation - the complete closure and silent treatment given on the cashback of old and fresh users from Christmas when this promotion started.
There was only MONTHS of lackluster communication from the SG team only via their Telegram once the fraud investigation was said to be going on immediately after January when 50% cashback ended. No answers but “soon.” The word literally became a meme. Not much happened during this time other than many of us assuming that we will never see our tokens. Users that never withdrew before, were able to take out a couple chunks of $500 in SG at a time once a month, but it was limited. Those who were spending more up to the $10,000 they promoted weren’t able to take everything out yet. Keep in mind, a LOT of the users at this point have never withdrawn from the app before because they got in around Christmas.
Step 4. This is the craziest one.
Airdrop an INCREDIBLE amount of tokens into SG users’ in-app wallets (They gave me an additional $10,000 in value), tell them those SG tokens are for withdrawal fees.
Say you’re opening withdrawals (June 1st) to allow $100 value of SG MONTHLY and put a FIAT/CASH PAYWALL for getting that $100 worth of tokens. YES, you need to PAY OUTSIDE CASH to get $100 SG valued at whatever it is on the market at the time. The CASH amount is HALF the worth of the SG you’re withdrawing for crypto by the way!
Let the token DECREASE in price soon after opening withdrawals, and then CLOSE withdrawals a few days later when the SG token goes back down to its ATL AGAIN (would be the best time to buy in cash!) because apparently your users are being “heartless” again and are refunding the FIAT/CASH withdrawal fee back to their credit cards.
Again, they’d have to be doing this on purpose in order to let people exploit their systems like this so the honest majority of us can’t cash out.
As of June 10th, SG still has their withdrawals closed after not even having them open for a week.
See what they’re doing?
Purposefully blame your userbase (fraud investigation, credit card refunds), then close withdrawals because you now have an excuse to once again so nobody gets their tokens.
So in summary, SG promoted incredible amounts of spending to users all of backgrounds and varying levels of experience with crypto. They TOLD them what the best way was to make literal hundreds of thousands of SG tokens, only to gatekeep 99% of their earnings with a $100 monthly cap and $30 - $50 cash paywall that they don’t even have access to at a cheap token price. And what about that airdrop to cover withdrawal fiat fees? What good is more SG tokens to match our spent fiat if we can’t even take that amount out? We were already paying the gas fee in crypto out of our earnings before this change, too. Doesn’t matter if you made a few thousand in SG or hundreds of thousands, you’re getting your money like it’s flowing through a pinched hose now, and I and many others can’t pretend that wasn’t intentional.
Last thing I’d like to say is that out of all the questions and complaining they have on their Telegram, they decided to ban me for posting Coin Bureau’s latest video on the World Economic Forum’s involvement in crypto, which SG has cited as inspiration as I mentioned before. Now why would SG care if I shared that? It’s because these types of gaslighting globalist scams the WEF want to perpetuate onto the world in general is represented by SG on a micro-level. Give your followers free stuff, take it away from them as you bend the rules, then piss on them and tell them it’s raining and they’re the reason the world is now drenched in piss. Now enjoy your morsels we’ve promised. I believe they’re hiding behind the good intentions they say they have so people look that much crazier when they call them out.
Before SG would possibly claim I left this detail out, they’re hinting at a “fast pass” where users could withdraw larger amounts at once using a fee taken from their in-app tokens. This would be great, but we have no idea what this entails, how much SG we’ll actually be able to get out at once. If the quietness of their Founder and decisions have shown us anything, they’ll just find another way of making any empty promise with the hope of getting our coins - maybe for a large ransom, which is exactly how it feels now.
To go from promoting users to make $400k in SG each (their words) to only allowing $100 monthly over a MEASLY $200 referral promotion exploitation gone awry, something’s up.
Not sure what you could do, Vosk, but hopefully some light can be shined onto this current state of affairs. I made most of my money and I am still a whale with how much I’m holding in already approved tokens, but lots of users expecting some little to decent cashback like they were told in a global recession, during the then holiday season especially, would probably appreciate it, too.
If an honest version of SocialGood can exist in this world, helping others, I think it would go pretty far. I would like to think that the team isn’t as sinister as their actions have proven, but anyone would be a bit naive to think otherwise. There’s always a chance for redemption.
Thanks.
Update 6/24: As of 10 days ago, aside from reopening the measly $100 withdrawals again, SocialGood has stated they they are REDUCING users’ chances of cashback if they speak out against them. This is not a joke. They also told users on the app that they’ll have HIGHER chances of getting cashback if they rate the app 5-stars on the app store. They are both BRIBING those who sing graces for them, or PUNISHING those who clearly have an issue with their fraudulent games for which they’ll just claim is misinformation in typical gaslighting and WEF-loving fashion. They CLEARLY want to flag everything being said here by all sorts of users as “false accusations” meanwhile it’s very true. They want to be their own deciding factor in that. Here’s the screenshot. How is this lawful?
Update 9/29: Vosk just released his latest SocialGood video and didn’t cover much of anything from the user experiences typed above. SocialGood has since limited withdrawals even LOWER to $50 a month, with a close to $20 fiat charge in place, still.
SocialGood is also advertising that the SG token is ACTUALLY valued at $106 per token (it’s currently .07 cents) and that everyone should buy more “while it’s cheap.” Verbatim. There’s supposed to be a big update late October, but nobody knows what it is, nor do we know when this “fast pass” is supposed to allow us to take out our tokens in-app from their hostage situation for an SG ransom charge, since it won’t be free. Crazy. I was really hoping Vosk would cover all this, especially after he asked me to type this up months ago and after making so much with the app, prior, due to his referral. Nuts.
Update 1/1/2023: Of course, SocialGood continues to dig a hole regarding customer satisfaction and promises (not) made. Next to nothing has changed, with no meaningful changes yet in sight. They even give you a temporary ban or delete your comments in their Discord for peacefully pointing out their problems with critique - a reminder that this is the same company that says they will either dock or reward your experience with SG depending on what you say about them, ala communist social credit scoring-style.
It was openly advertised (by Barry SG himself, in the comments, whom of which wrote the exact promotional emails describing what I’m about to say) that the gas fee after the “BIG” update which added the Polygon network, would make withdrawal fees next to basically free. This was said straight from them and him, and I’ll pull up screenshots of SG stating as such if I have to.
Well, it turns out… the update did nothing, except for requiring 200 SG to keep in your connected wallet or you cannot use the app. 200 SG, mind you, that you NEED to pay through their app in order to qualify for this new membership feature. I was unable to use existing 200 SG that I already had and put inside the wallet as preparation. Insane. At the time, that was another $10 - $20 in FIAT that we had to dish out.
After doing even THAT, you STILL need to pay $20 in FIAT as a withdrawal fee, on top of a gas fee, regardless of what chain you choose to withdraw to from the app. After doing that, you can only get $60 worth in SG monthly, which after fees, comes to much less. That’s NOT basically free.
Vosk also decided to make a sentimental video unrelated to SG about himself and his experiences in the industry within the past couple months since I’ve updated here, regarding how much he’s lost this year, and how much it’s had an affect on him.
This message is to you Vosk: Well, maybe now you know how SocialGood has made its users felt. I don’t believe in karmic retribution, but it seems like now you’re getting a taste of what you’ve dismissed from us over exactly what SocialGood has been saying (and lying about) and doing. I’ve been telling you, and so have others, and you hardly listened, as shown from your most recent SG video and general responses to us, first-hand.
I can’t shed many tears for you, but I hope you don’t undervalue your followers’ experiences with something you promoted again, especially while expecting to feel bad for you in return for your own losses.
We’re all obviously being lied to in this industry, but consider this a wake up call. You can still do good, and so can SG if they come around. Thanks.
UPDATE: JANUARY 31st / FEBRUARY 1st 2023
SocialGood has spontaneously decided to delay withdrawals once again, on an alleged “first come, first serve” basis. They have the gall to call it “exciting” for its users, which is more communist scam doublespeak, which anyone can learn about with this link I’ve provided. The below email they sent out explaining the “system” speaks for itself.
And what you see here is an estimated wait time for an individual who decided to initiate a withdrawal only hours after implementation. This is nearly 80 DAYS. Just how many users would’ve needed to withdraw within the last few hours to justify a nearly THREE MONTH wait, if truly is first come, first serve? Liars.
UPDATE: Priority Pass implemented. We have officially reached undeniable scam territory.
New ‘Priority Pass’ to withdraw your “free SG” at the normal rate you were getting access to it before, if you don’t want to wait 3 MONTHS for it due to their “exciting” new “stabilization” feature (bunch of communist doublespeak buzzwords again.)
Pay OVER half after fees to get less then you would if you just bought the SG token on the exchanges with the same fiat amount you’d be spending on a withdrawal through your app.
Fuck these people.
