How scammers attack CryptoBonusMiles and measures taken to prevent CBM leakage

This article was first published on Stories by aeron.aero on Medium
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Dear Subscriber,

We would like to thank Aeron community for the terrific response and thousands of sign ups at CryptoBonusMiles. While the usage has grown exponentially, it was observed that millions CBM tokens get withdrawn from the platform yet without actual flights taken and activity reported at the underlying airline loyalty programs.

There was definitely some gap in the rules which enabled unscrupulous users to generate significant CBM earnings, all without genuine activity on the platform. All that CBM withdrawals were dumped to the market, to generate immediate revenue for the scammers. With the aim to preserve CBM value, such “gaming the system” should not be allowed. The platform is for travelers taking flights with various airlines worldwide, not for those with the aim to create thousands of user registrations without flight activity, to harvest the sign up bonuses and abuse the affiliate program.

Let us recap the rules proposed to the CryptoBonusMiles users.

CryptoBonusMiles is free for everyone, there is no cost to participate. Once you register at https://wallet.cryptobonusmiles.com, you will receive a sign up bonus of 100 CBM, with further 100 CBM bonus granted for each airline loyalty program you add. Further to registration, CBM reward points accrue for every mile you log with the airline loyalty programs starting from the moment you have added the program at CryptoBonusMiles.

Certain users have created 3000 to 5000 accounts in their referral networks, having added airline loyalty cards with certain airlines, which grant bonus miles for registration alone. While technically these loyalty cards can be considered valid, that is evident to have bogus customer details and having abused the airline loyalty program sign up bonus offers. Fake registrations hit not only CryptoBonusMiles but the “donor” airlines to create thousands of sign ups for many airline loyalty programs. ...

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Stories by aeron.aero on Medium

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