"Blum: How a Crypto Project on Telegram Deceived Users by Promising the Unrealistic"
The Blum project on the Telegram platform initially attracted the attention of users with its promises of a hybrid crypto exchange and the possibility of earning money through game mechanics. It was positioned as a mini-app that allowed you to earn Blum Points by completing various tasks and participating in the Drop Game. These points could be exchanged for rewards within the platform in the future. Bonuses were also offered for inviting friends and active participation in the community, which attracted a large number of users.
However, the project has caused a wave of discontent among users when numerous signs of a possible scam emerged. Despite an ambitious roadmap and promises to introduce new features such as cryptocurrency exchanges, custodial wallets, and leaderboards, the platform has not actually moved beyond gaming mechanics. In addition, no clear information was provided about plans for tokenization or further steps in the development of the project.
The developers have been luring users in with a system of daily rewards and enticing offers, promising that Blum Points will eventually be used for real crypto transactions. However, no significant roadmap has been launched yet, raising suspicions that the project is more about hype than actual work.
Many users have come to suspect that the Blum project is simply a way to lure new participants and benefit from the growth in popularity without delivering the promised features. The developers are slow to launch the core functionality and continue to encourage users to be active only through game mechanics, which raises suspicions of possible fraud or concealment of real intentions.
