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Takeaways by BetterChecked
- HypeDrop announced closing on April 26, 2024 - but is still available.
- Critics are calling the closure an exit scam, pointing to internal issues.
- Claims of money laundering and fake ads linked to HypeDrop.
- HypeDrop 2.0 is teased, but details are pretty limited.
- Reports about withdrawals being delayed or canceled.
- Owner EyE is linked to the controversial CSGORoll project.
First published 4/19/2024 on BetterChecked• last updated 7/5/2024
HypeDrop wowed users with high-end electronics, exclusive sneakers, and rare collectibles, quickly becoming a hit in the online mystery box world with over 500,000 users.
The gamble, combined with the platform's convenient payment options, including credit cards and cryptocurrencies like Bitcoin and Ethereum, made it easily accessible, with the added appeal of bonuses for using crypto.
However, issues began to arise. Anonymous sources alleged that HypeDrop was being used for money laundering, and subsequent audits showed over $1 million in suspicious transactions, highlighting the platform's shortcomings in preventing fraud. Especially the owner of CSGOEmpire, Monarch, called out CSGORoll and Hypedrop out almost daily for months on his X account.
As a result, authorities took notice, and HypeDrop's reputation suffered.
Furthermore, false advertising became a significant problem, with users who expected to receive high-end items, such as the latest iPhone or Xbox Series X, often receiving low-quality counterfeit products instead.
Recommendation by BetterChecked
HypeDrop got a bad rep due to money laundering and false advertising claims. Make sure to do your research before using similar sites. I mean, who wants to end up on "Scam Busters"?
HypeDrop gone: EyE’s controversial past and HypeDrop's decline
In the midst of all this chaos was EyE, the founder of HypeDrop, who was already controversial due to his past with CSGORoll. People remembered how CSGORoll faced similar money laundering accusations and had supplier accounts shut down.
When HypeDrop announced its sudden closure with barely any explanation, rumors started flying. EyE's vague comments about "internal issues" did little to alleviate concerns, leading many to suspect it might be an exit scam.
Commentators noticed a pattern with EyE's projects - lots of big promises but not much clarity. Experts noted that this kind of vagueness often points to exit scams.
Recommendation by BetterChecked
EyE's sketchy history and the recent problems with withdrawals after HypeDrop shut down mean users should be careful with similar sites.
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HypeDrop 2.0 release date: can it rebuild trust?
In the midst of all this chaos, people started talking about HypeDrop 2.0. EyE promised a new platform to address the old one's problems. It's slated to launch later this year, boasting better anti-fraud measures, clear ads, and an improved user experience.
Recommendation by BetterChecked
The new features for HypeDrop 2.0 look promising, but users should be careful and wait for real enhancements before trusting the platform again.
EyE faces the challenge of proving his promises and rebuilding the community's broken trust.
HypeDrop's story is marked by drama, poor management, and user disappointment.
EyE faces the challenge of converting skepticism into trust, and only then can HypeDrop 2.0 stage a comeback or fade into obscurity.
As EyE works to revamp HypeDrop, it is under intense scrutiny.
