Topic: Walton Chain (WTC) scam?: down 20%, no code & FCA investigates (Read 170 times)
Any update on your FUD against this coin?
December 11, 2017, 06:17:47 AM
Thank you for the update. I was following this token for a while, it spikes up and down alot with a really good difference... from 5$ to 10$... and so on.
So I guess its safe to say, I`d better stay away from this one
Thanks again.
So I guess its safe to say, I`d better stay away from this one
Thanks again.
December 11, 2017, 06:01:33 AM
I have long thought that WTC is a scam or, at very best, a sham with no chance of delivering the project.
Here is a quick recap:
The project has shown a video of the 'team' messing around with some RFID equipment and, apparently, a blockchain test on a monitor.
Interestingly, the team chose a select group of people from the community (I suspect on the payroll) to test the alpha.
People have been pressured into buying 'Guardian Nodes', not featured in the whitepaper, before a deadline of 9 December.
On 9 December people were asked to move their tokens to MyEtherWallet to lock in the 'Guardian Nodes' - too late for anyone else to have one - and before a move over to Walton's blockchain (no evidence of work on this i.e. code has been published).
Apparently, the beta chain will be publicly tested / available "early December" - but no announcement or sign of it. It is very difficult to see how this can happen if nobody has tokens for the new chain.
I have reported the project to the UK Financial Conduct Authority (FCA).
I do not want to see good people lose money.
Please approach this project with extreme caution.
Here is a quick recap:
- Tenuous claims about the credentials of the team and support of the Chinese government
- Fake news stories
- No code, GitHub or evidence of work
- Scores of paid shills (many newbies) being aggressive toward those who challenge and trying to pump
- Market manipulation, suspicious accounts (an account that is not an exchange or the team expense fund controlling 1/5 of the tokens)
The project has shown a video of the 'team' messing around with some RFID equipment and, apparently, a blockchain test on a monitor.
Interestingly, the team chose a select group of people from the community (I suspect on the payroll) to test the alpha.
People have been pressured into buying 'Guardian Nodes', not featured in the whitepaper, before a deadline of 9 December.
On 9 December people were asked to move their tokens to MyEtherWallet to lock in the 'Guardian Nodes' - too late for anyone else to have one - and before a move over to Walton's blockchain (no evidence of work on this i.e. code has been published).
Apparently, the beta chain will be publicly tested / available "early December" - but no announcement or sign of it. It is very difficult to see how this can happen if nobody has tokens for the new chain.
I have reported the project to the UK Financial Conduct Authority (FCA).
I do not want to see good people lose money.
Please approach this project with extreme caution.
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