Home / Blockchain / Eos (EOS) spawns scam projects on its blockchain and they are starting to exit-scam

Eos (EOS) spawns scam projects on its blockchain and they are starting to exit-scam

  • EOS Black crashes 80% in 4 hours, claims of exit scam pop up

EOS Black, a blockchain-based venture capital fund built on top of the EOS blockchain, has been caught in some strong controversy lately.

Just a few days ago, the currency managed to drop more than 80% in just under 4 hours, moments after experiencing a strong price breakout. A Twitter user @rektkid_ first shone a light on the event and offered a deeper insight into what exactly caused this drop.

Calling EOS Black to project with a "$ 400m market cap with absolutely nothing to show", this Twitter user pointed out another interesting thing. Apparently several people went into EOSPrice and started spreading rumors how to pump and dump group is going to explode the price from $ 0.25 to $ 0.5. This tricked "gullible speculators" who started taking positions in BLACK tokens expecting this rise. The price was pumped up just above $ 0.41 before the dumping took place, likely to be screwed up. Smashing through the previous $ 0.25 levels and bottoming out at $ 0.6.

EOS Black early investors exit scamming from the project. Sold on a Korean exchange called Cashierest. Tracking down the sell transactions that resulted in the rejection of a large quantity of dumped tokens. BLACK TOKENS during this drop.

For their part, EOS Black came out with a rather flimsy explanation. Their full response was as follows:

"Hi. The eosBLACK team.

In the short period of time two to incitement by malicious rumors distributed to the initial investors.

In the eosblackteam account that comes up with the amount invested I remember earlier.

If there is an investor, this is also possible, please visit after the appointment.

I am saddened by a sudden drop in prices. In our eosblackteam, we promise to be the best to develop the road map. "

EOS Black recovered 23% of its value at the moment of writing.

  • Tether reopens account verification and direct redemption of fiat from its platform

Tether launched its redesigned customer verification / direct redemption of Tether to fiat features.

The old redemption model which operated directly through Tether's native platform has been halted previously, two to the platform's inability to handle what they call an "unexpected rush" of new cryptocurrency traders during the previous year.

This model has been replaced by a new "flexed" one, which will be used to build the increased infrastructure and security of Bitfinex. Those wishing to redeem their Tether to fiat could do so 1: 1 via the Bitfinex link, with whom Tether has a long-lasting business to business relationship. Bitfinex's ability to handle this process has been criticized in the past by some community members who were not able to exchange their USDT to USD.

However, after securing a partnership with Deltec bank, Tether has regained the required capacities to handle the verification / redeeming process themselves. Investors can now use the on-platform wallet for creating and redeeming, without having to rely on a third party.

The process has been redefined to the professional investor audience, equal to 100,000 USD and $ 100,000 USDT, respectively. Fiat redemption for week.

  • 24 ICO's that raised $ 2.8 billion currently have almost no trading volume

A guest author on Cointelligence recently published a piece analyzing some of the most valuable ICO's on the market and their overall appeal among traders. The conclusion was a result of this analysis that was not that encouraging.

Andrews, noting that many of these tokens have "significant" economic problems, the name of which is the lack of liquidity around them.

"Liquidity is a significant parameter for any financial assets and shows how fast the asset can be converted to cash. In other words, it represents how fast you can buy or sell some product, " explains the author. With more token than 1% of their total supply in circulation, with most token holders choosing to HODL rather than spend.

"… large transactions are disastrous for such markets. If someone wants to buy or sell a significant amount of tokens, the deal can shake the market. Under those circumstances, the person can become a monopolist, and the person is able to change the price. The owner of a large amount of tokens can manage the market and influence the project, " he further added. This is not something you want to see on a healthy financial market.

20 projects that managed to collect over $ 50 million from their investors by launching an ICO. TaTaTu, Dragon, Hdac, Paragon, Bankera, Qash, Envion, PressOne, WAC, TenX, Drop and others are on this list, with all of the suffering noted above. I think I have suffered from a low trading activity.

  • NASDAQ to launch Bitcoin futures in 2019 despite the recent market downturn

Bloomberg reported today that Nasdaq Inc. will be pushing with its plan to the list Bitcoin futures by the end of the first quarter of 2019, with current market conditions being the way they are.

The second largest stock exchange in the world is currently working on the U.S. main swaps regulator, the Commodity Futures Trading Commission, before launching the mentioned futures. This is not the only entity looking to gain the CFTC at the moment, as a New York-based investment management firm. VanEck is going through the compliance review process as well.

CME and Cboe contracts, which have been traded since December last year.

Nasdaq futures will be based off Bitcoin's price on numerous spot exchanges, pooled together by VanEck Associates Corp., said Bloomberg's source.

  • ICONLOOP launches "ICON Development Network" on Amazon Web Services marketplace

ICONLOOP, a blockchain-specialized tech company from Seoul focused on being the "technical" part of the ICON project, revealed that its latest product, "ICON Development Network", is now available on the Amazon Web Services marketplace.

The company has been part of the AWS Partner Network since early 2018; with ICON Development Network, they are now able to provide a software solution that allows developers to run a private instance of the ICON blockchain through AWS.

"ICON Development Network will provide an easy-to-use development-ready environment. These enable developers to bootstrap their own private ICON networks, adapted to their own convenience and need, in order to build, test or validate their project running on top of the ICON Protocol, " explains the project's official Medium announcement.

The solution is meant to "improve understanding, accessibility, and convenience" when building on the ICON Network and potential developers can check out the project's official GitHub page.

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