Topic: HETACHAIN IS A BIG SCAM PROJECT. (Read 836 times)

Thanks for your sharing! Sorry we're too busy with the ICO to respond every topic about HetaChain. Now that, the listing on exchange plan is on going, we're also afraid that cannot keep an eye on those newbies. Let it be then.

True. The people behind HetaChain are too rich to scam a little money .
Have you ever heard about T-hub ? One of HetaChain real-life project. HetaChain is going to go globally.

After ICO close, HetaChain will be listed on exchange soon and this topic will become a BIG rumor.  
Less than 3 days TO GO .
Public Sale is Live
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263,512,664 Total HETA Tokens sold

Thanks for your interest in HetaChain !

They have collected a very huge funding from their current ICO right now, if this is a legit project, then it should be resolved asap so investors will not have anxiety if this is a legit project or not and OP should close or update it, after a close investigation, my option is still open about this project.

Thanks for your answer!  

So, your market cap of 300M USD is estimated in 10 years containing the final total supply of HETA tokens? That would be rank 20 right now on coinmarketcap, but we all know during 10 years can happen a lot.
Important for me would be the circulating supply directly after your ICO to get an impression if it's overrated or fair-valued. Your ICO is running until December 10, but can you already give an estimated number?  

I assume many of your total supply tokens are also for Airdrops during the next years (which is a good thing) to make your project well known and distribute the total supply to as many participants as possible.


Another question I want to ask is how you deal whith your large investors from your private sale. Will they all receive millions of HETA tokens? Every promising cryptocurrency needs a wide spread of the total supply to avoid a few hundreds of super-rich people who own 95% of all coins. I would be interested how your are distributing your HETA tokens, in your private sale you got something like 185M USD (large investors) and in your public sale only 4.5M USD (small investors).

According to your numbers given above and the sales numbers this would mean:

15% Teams 9,000,000,000 HETA
03% Advisor & Partners 1,800,000,000 HETA
05% Bounty & Airdrop 3,000,000,000 HETA
03% Business Operation 1,800,000,000 HETA
04% Product Development 2,400,000,000 HETA
20% Private Sales 11,1070,000,000 HETA (185,000,000M USD invested, 1 HETA = 0,0167$)
01% Public Sales 270,000,000 HETA (4,500,000M USD invested, 1 HETA = 0,0167$

49% Not sold tokens

100% 60,000,000,000 HETA

These are the numbers from your website:

15% Teams 9,000,000,000 HETA
03% Advisor & Partners 1,800,000,000 HETA
05% Bounty & Airdrop 3,000,000,000 HETA
03% Business Operation 1,800,000,000 HETA
04% Product Development 2,400,000,000 HETA
30% Private Sales 18,000,000,000 HETA
40% Public Sales 24,000,000,000 HETA

100% 60,000,000,000 HETA

A solution to keep the 40% of the public sales for public people would be to distribute the 40% of the total allocation to all public investors (which would mean that they will receive more HETA per invested USD). Or how are you distributing your HETA tokens?

Thanks for your interest as well as positive thought for HetaChain. This is a very good question. After checking all details, what I can respond is below:
10-year-plan distribution amount: 40,000,000,000 Heta tokens
Public ICO: 60,000,000,000 Heta tokens (after ICO, the left will be added to the 10-year-plan amount)
Market cap in plan: 300M USD
Token price: $0,0167
Token distribution time: 1 month after ICO close.

I didn't say Hetachain is a scam, in my opinion it's a legit project and the comments are indeed (as you mentioned) from a competitor spreading FUD. But how do you manage your large investments sums? How many tokens will be issued at which price to calculate the marketcap in raw numbers? I think a too large number of collected money will result in a huge numer of tokens issued which will make the project very overrated.
A normal calculation of number of tokens and average ICO price would clear my doubts.

And in general, I like your project. It's not easy to collect money in a bear market.  

It's good that you drop here any scam accusations should be directly answered by the developers and not by investors or bounty hunters because they do not know what's going on inside the company, now that you come down, it's time to show more proof that you are a real company and very transparent.

For all who may concern,
As you're watching the movement of this project these days. Of course, we agree that this is the effort of competitor just to stop our achievements.
One more good news from HetaChain is that $130M is not the final amount but $185.65M raised from private sales is the final amount.
Some said that it was unreal. Some said that it's huge comparing with the market at the moment.
You must had been skipped an important detail that we've already officially informed on Media:
"After finalizing the investment procedures HetaChain officially received $185,650,000 in private equity investment from more than 60 investors. Most of whom include institutional investors and investment funds from various countries around the world, specifically targeting investors from the Middle East."

The investment funds are main investors and it's easily to understand the reason behind by doing a small research on Mr. Sultan Ali Lootah.
In other words, HetaChain is the project of a Business man with a very strong finance support.
Who wants to miss this investment opportunity?

That's not the case, the "shill" comments are very negative and calling Hetachain a SCAM so I don't think they are hired by Hetachain, looks more like hired by a competitor to spread FUD about Hetachain.

I don't know much about the project, the first time the pictures looked like photoshop, but the people are real, you can watch on YouTube. I don't think it's a scam, but they collected already 120,000,000$ so HETA Token is heavily overrated and would dump a lot when it enters exchanges.
120,000,000$ would mean they are number 60 on coinmarketcap and ICO is still not finished. A hard dump of this token wouldn't surprise me because it's very overrated.

If you have doubt You can ask about the project here: https://t.me/Hetachain_Community

I also notice that too so many newbies dropping here make me believe that they are hiring shills to defend the accusations, it's one of the developers who should drop a line here or explain their side and not newbies, something fishy is going on this project.

fake & stupid. this project seeding too much! please don't belive on what good thing comment here!

This topic is shared in the ANN of the project, think that's why all those newbies are responding here.
No admin is responding to this accusion, not in their thread and also not here.


[AIRDROP] HETACHAIN- UP TO $2,000,000 IN REWARDS
BOUNTY: https://bitcointalksearch.org/topic/airdrop-hetachain-up-to-2000000-in-rewards-5047360
PROFILE: https://bitcointalksearch.org/user/hetachainbounty-2398231
ARCHIVE: http://web.archive.org/web/20181106075543/https://bitcointalksearch.org/topic/airdrop-hetachain-up-to-2000000-in-rewards-5047360

$2M rewards??

[ANN][ICO]HETACHAIN- A THIRD TRENDY GENERATION BLOCKCHAIN PLATFORM
ANN: https://bitcointalksearch.org/topic/annicohetachain-a-third-trendy-generation-blockchain-platform-5043007
PROFILE: https://bitcointalksearch.org/user/hetachain-2374863
ARCHIVE: http://web.archive.org/web/20181106075752/https://bitcointalksearch.org/topic/annicohetachain-a-third-trendy-generation-blockchain-platform-5043007



and a lot more blabla in ANN thread.

if you said they are very rich. so why they scam. they have a lot of money so i think they don't need just a little bit like this

about the road map. when you fail in the second stage you won't do anything after that. every thing will fail for sure

i agree they are a rich team. but i think they don't have any experience with this work. the technology of blockchain really hard, i don't think they can do this

i think this team don't have any knowledge about blockchain. i think this project won't success in the future

about the roadmap. when we ask them about their road map they don't answer anything about this problem. i see they just talk about the team. why they do that. are they scam?

hey puppy i see you are right about this ICO. can you show use more about their mistake ?

i think the white paper they just talk about their team. all of the project they just show us about their team. we don't see a clearly project and how to solve the problem.

i agree with you about the road map. if the second stage fail i think they can't do anything after that. they won't control all the project

in my opinion i think this is scam ICO. they have a good idea but this is impossible do make it real. and the team def is so rich. they call capital for what? this capital just a little bit with their asset

i agree with you about the soft cap you said in the post. when people asking about the contract or some information with this thing the admin not answer or show anything.

is this team scam? the family have billion USD. so i don't think they make this project and call capital just several hundred million. they do this for what?
this is some information about this team.
http://media-unlimited.info/mu-director-to-arab-strategy-forum-social-media-arent-just-for-kids/

I found that their business is legit around the world. Here is the link you guys can see: http://www.foodserviceequipmentjournal.com/cdg-extends-global-footprint-of-las-iguanas-and-bella-italia-brands/

Projects look so huge to me, I have commented on their official thread alerting them about the scam accusations, it's up to them know if they are going to answer or ignore these accusations but the accusations seem real to me and had a valid point thanks for posting it here.

Not my kind of project but also did some extra research.

I focussed on their team and partners and found this.
Look at the team of HetaChain:




Now let's check the team from Relam Investments, the company that invested in HetaChain (same team members):




Just clicked on another partner, Vault-Inc and checked their team (same):





I'm not saying this is a scam but for me some serious red flags.

Hi i see that Sultan and his business are in the Billion Business. So I think that they dont have any engine to scam people! You can see his profile and his business here

https://www.biztoday.news/2018/11/01/relam-investment-launches-relam-star-program-to-keep-pace-with-world-technological-changes/

The community is certainly very big but not so active because of a very large Airdrop and Bounty program as you can see here https://bitcointalksearch.org/topic/bountyhetachain-a-third-trendy-generation-blockchain-platform-5043478. Now 5 Million USD for an Airdrop or Bounty is way so much and would definitely make an airdrop seeker so excited. What I noted about most of these ICO projects with large social media communities is that people most of which are no investors just join to receive an airdrop. All the ask about is about the Airdrops and not about the project or ICO

This is a good example of how a fraud campaign can look like a good project, they are great in making it appears they are worth to invest but of course we need more proofs and they have to show up here to answer these allegations but if this is true I would like to commend you for bringing this up, so many people are looking at this project.

Hello @PuppyJonathan.  
I want to send a very important and valuable message to you concerning the Hetachain project.  

But I'm unable to send pm.  Bitcointalk says you did not enable receiving message from newbie accounts.
Kindly enable that feature to be able to receive my PM.  

Go to Profile > Personal Message Options > Enable "Allow newbies to send you PMs" , and save .  

Kindly notify me after you have enabled PMs from newbies. 

Thanks.  

I see the same thing with you, everything looks great.
but I immediately went to analyze some facts and be careful with this project. I will not rush to decide.

You have a good point I also saw the thread about Hetachain and looks like a huge project to me almost falls for it better one of the dev come here to check this thread and answer this accusations I think their momentum is lost because of this, might as well address this as soon as possible.

1/ SOFT CAP
They was announced that they have raised 130million usd in ICO presale ? Someone saw that it was nonsense in the market now? Also they not give the proof of that even dont have the smart contract to show that.
2/ TEAM MEMBERS
Dev team : Co-founder Sultan Ali Lootah - IT Director of Ministry of Health, UAE : if he is the Ministry of Health , Why he not Make a blockchain for Health Industry? Why was blockchain 3.0 Mr. Abdullah Al Dabbous : Founder & Managing Partner of Myfatoorah He very famous in UAE and rich , How he wants to raise money from the people The team dont have experience or skills in Blockchain , so how can make a blockchain 3.0

Two videos in youtube just about 20s. They not talking about Heta Technolog. I'm afriad that they have not any experienced in this field. Blockchain 3.0 is such a big thing. With a knowdleged of those FOUNDERs. I guarantee that they not having any experience in Blockchain field. That is a result they cannot explain clearly what is hetachain

If the dev team come from UAE and Royal Family like this . Why did they not talk about the project in over the world? They must have go over the world and talk about their project. or they dont know how to make a technology speech ?

Another problem is that their TEAM STRUCTURE. How a team come with 11 Co Founder and has no others staffs Dont have any CTO, CMO, CSO, Designers, Blockchain Developers… Why such a big concept like this without public the developers. Of they dont have??? And that why I think they havent had any clue to proove that their team are really doing .

3/ ROAD MAP
Road map: The roadmap has 6 milestones. The project currently is at the third milestone. The second stage was failed as there is no product developed yet. By now the team has only the concept of the product. The roadmap is not detailed enough and short - ends in Q3 2019.

4/ WHITEPAPER
 Whitepaper is poor - seems like talking about same things read many places and more than half of the whitepaper covered by team!. Just some definitions about POS , POW not focus on their algorithm . The white paper consists of 50 pages. There are grammar mistakes in the text. The document is made in the form of a research paper and provides weaknesses of the current blockchain system and offers its solutions to those ECDSA (Elliptic Curve Digital Signature Algorithm) can not be blockchain 3.0

5/ MVP
No MVP in this project , Very risky and negative --   Always call blockchain 3.0 . They really dont have a MVP??
      
6/ COMMUNITY
When people ask about the smart contract and MVP, The dev team don’t answer about this They choose silent, 60k members but less conversations , look like fake users.