RATE Group | Crypto Investors’ Ethereum Secretly Used to Prop up HEX ‘Scam Token’
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Crypto Investors’ Ethereum Secretly Used to Prop up HEX ‘Scam Token’

06 Jan Crypto Investors’ Ethereum Secretly Used to Prop up HEX ‘Scam Token’

Posted at 11:42h in Ethereum News by

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  • The HEX purchase address used 50 ETH to buy more tokens.
  • The tokens were then sent to an exchange to provide liquidity for HEX traders.
  • HEX continues to benefit its founder, to the severe detriment of its investors.

Ethereum (ETH) from the flush address of the controversial HEX cryptocurrency is being recycled to buy more tokens, as shown by a breadcrumb trail of transactions on Etherscan.

The ETH were then sent to a cryptocurrency exchange with the apparent intention of boosting the liquidity of the alleged “scam token.”

Creator Richard Heart claims he doesn’t know who controls the $6.5 million worth of Ethereum that sits in the flush address. Regardless, it has been estimated Heart will control from anywhere between 45-70% of all HEX tokens in existence via the token’s origin address.

Ethereum Tokens Recycled Back Into HEX

ETH from the HEX smart contract finds its way back into HEX’s circulation. Recycled in four steps. | Source: @Run_BTC, Twitter, Gruffalo, HexRekt…

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