Controversial HEX Token falls to 60% after listing by Bitcoin.com

Stefan Rust, CEO of Bitcoin.com, has defended the decision of the stock exchange, the HEX Token list, after several members of the crypto Community, had referred to him as a non registered securities, and a possible pyramid scheme.

The stock exchange announced its support for the Token at the weekend in a Tweet.

“We are pleased to inform you that we have just listed HEX of Richard Heart of our stock market, so that anyone who wants to act, has a safe place to do it. Look at this!“

Almost immediately after the announcement of the storm of criticism. On Reddit, a commenter criticized the step of Bitcoin.com and said: “on the basis of the voice of the BCH-trailer I think that the list of HEX will be a great damage to the reputation of bitcoin.com in the Community. Please do not listen to the Community and dig this hole. It is not worth it.“ On Twitter a user wrote on the project: “It is misleading is incredibly misleading.” In addition, there were numerous other comments which warned of a new Bitconnect Ponzi System, such as the Twitter user “grubles,” they wrote.

Looks like your community is fairly outraged at this behavior. https://t.co/026CKYRFgl

— grubles (@notgrubles) December 15, 2019

Why is HEX under attack?

There are a number of points of criticism of the HEX-Token, which brings to the crypto Community as a suspect emerged. First, it is advertised as a “high interest” account. In reality, the user will need to send your property (Ether) but to a foreign-controlled address. Secondly, the Creator of the token, Richard Heart claims that the Token “will fold in less than 2.5 years, its value con-to 10,000-” and faster in value than any other coin in history. Thirdly, it will be distributed via Airdrop to all Bitcoin (BTC) holder to receive, in a train, with the aim of immediately a user base of millions of people. The combination of these three factors has caused many to say that HEX is another Ponzi scheme, like Bitconnect.

The focus of marketing is the fact that it’s a “high interest” account. To punting, rather than a crypto-currency, to Deposit the user Ether to an address in order to qualify for the HEX Token. Instead of earning so interest for your money, buy the users, effectively a other Cryptocurrency. The Ethereum address, in which people should Deposit the ETH, contains now 35.452 ETH (about 5 million US dollars).

In a recently with Podcaster Peter McCormack led the Interview, refused to Heart to say, whether he possessed the key for the address, but said, who can spend the doing, “you as he wants”. Heart it’s all the Token production for the replacement of the Ether of the people against the HEX that they will gain in value. He has said that it “is programmed to pump,” and that “HEX is intended to increase the value faster than anything else in history”.

In addition, Heart claims that it is in the HEX Token to a value of paper. In the Disclaimer of the project, it says: “HEX is of no value paper. There are actually no coins, it are just Numbers in a distributed database.“

Ironically, the price of the HEX token is, since then, the trade with the Token is passed on Bitcoin.com live, have fallen significantly. Since the listing of the price of HEX has fallen by around 60 percent.

Featured Image: Christian Horz | Shutterstock