The FortuneJack Scam Explained
If you have been interested in crypto poker, roulette, slots, or gambling in general, you’ve probably come across many scam sites, one of which is the FortuneJack scam.
Still, we don’t want to allege that anyone was being illicit or fake so let’s try to explain what this ‘crypto casino’ is about.
According to some (most probably paid) ads, this is one of the oldest crypto casinos on the web that is now facing numerous accusations of scam – especially when big money is involved.
The latest complaint against FortuneJack includes more than 800 Monero (XMR). And not just that, but the whole transaction history of one of the best winning clients was deleted.
According to a user known as PaperWallet, he accumulated a total of $120K on FortuneJack. Still, just a moment before the withdrawal, the whole betting history was deleted by the casino and over half the amount won was deducted.
This, of course, can be added as a ticket to technical support (or lack of) and perhaps the issue can be resolved for that matter. However, the company that calls itself the oldest crypto casino has to take care of its reputation and should not allow such things to happen.
Also, after the complaint, support didn’t answer over 28 hours.
Infamous year to start the business
Fortunejack started with its operations in 2014 – the same year hackers stole 740,000 Bitcoin from Mt. Gox customers and 100,000 from the company itself. Not directly related – but shushes the general sentiment.
Also, when looking at the company’s Terms of Service (ToS), it’s viable that the company can, at any moment, change the rules for its customers and they can take effect immediately without previous notice of such actions.
According to the website, the company is encouraging users to regularly check for such updates because it can shrug off any liability for any loss resulting from the changes made.
If we look at regular casinos, which all have similar ToS’s, this could imply that winnings could also be cancelled.
When PaperWallet’s support ticket was finally answered, FortuneJack said its Terms of Service gives them the right to cancel bets when the player places more similar bets as, in such cases, only one of such bets is considered active.
The real question is – why does the company allow that kind of bet to be placed and why does it wait for the outcome before reacting, in this case - nullifying them? More precisely, what would it do if the player had lost? To us, this seems like a cheating policy involving malicious interpretation of their terms.
A good reputation is what it’s all about at the end and we believe that Fortunejack forgot that. The rules should be more apparent and the warnings about this kind of situation should be publicly visible (not only in the fine print).
Finally, bets that are “same” or “similar” should not be approved in the first place, and players should be warned on all of these terms.
Author: Teuta Franjkovic
A sincere writer with a strong will to share knowledge on all things blockchain, crypto, metaverse and DeFi. Starting out as a writer with Cosmopolitan, Teuta has risen through the ranks of business journalism, editing newspapers and websites within the fintech industry for over 15 years. She holds a double MA in Public Politics and Entrepreneurship.