HEX Dives 60% on Bitcoin.com as Backlash Builds Over Exchange Listing

pubblicato su by Cointele | pubblicato su

Bitcoin skeptical cryptocurrency exchange Bitcoin.com Exchange has sparked fresh controversy after supporting an altcoin widely considered to be a scam.

In an article and Twitter post on Dec. 15, officials confirmed that trading of HEX had gone live two days previously.

While little overall trading data is available, Bitcoin.com's HEX markets have traded the equivalent of 0.81 BTC in the past 24 hours.

Warnings over HEX founder's "Perpetual self-enrichment".

As Cointelegraph reported, HEX purports to enrich investors by giving away free tokens in return for confirming BTC holdings.

Critics point out that Heart, as owner of HEX's so-called "Origin address," will control around 45% of the entire HEX supply just one year after the launch.

"Not only will Richard control close to half of all HEX after the first year, but it is the first token I have seen to have its founder's perpetual self-enrichment baked into the protocol," a blog post on HEX by the private researcher known as Goldman Sats summarized on Dec. 7.

Goldman Sats added that Heart seeks to downplay the existence of the origin address, despite its likely status as a giant centralized repository capable of crashing the entire HEX market with a single sell-off.

Bitcoin.com Exchange, the trading arm of cryptocurrency news outlet Bitcoin.com, already holds a controversial reputation among community participants over its sidelining of Bitcoin, which it calls "Bitcoin Core," while championing altcoin Bitcoin Cash.

Following the HEX announcement, Twitter users led recriminations against Bitcoin.com, with large numbers of comments voicing disbelief at the decision to launch trading.

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