A HEX app which helped holders rope their “friends and colleagues” into the scam has been pulled after the creator spotted “possible compromise” within the HEX market. HEX Tool, which only launched in December after being worked on for almost a year, is no longer available and the website promoting it shuttered after the creator, Paul Hughes, stated that he “can’t with clear conscience recommend HEX to anyone moving forward.”
1/ Hey, everyone; due to evidence I’ve seen of possible compromise of HEX markets, I can’t with clear conscience recommend HEX to anyone moving forward.
— |Careful if you-| StakeHEX |Do Research| (@StakeHEX) February 12, 2020
“Ethics Wins Every Time”
In a tweet thread, Hughes, speaking through HEX Tool’s Twitter account, didn’t go into detail about what he had seen, but simply stated that the experience was enough for him to call it a day:
It sucks to kiss 11 months of work goodbye, but my conscience dictates I must; in a face-off between ethics and sunk-cost, ethics wins every time.
Replies to the thread called for Hughes to reveal what had caused him to make this decision, but he was no more forthcoming. What is evident though is that, after just a few short weeks on this planet, HEX Tool certainly did not live up to the admittedly heavy burden placed upon it by some:
It didn’t. And no, it isn’t.
HEX Still as Controversial as Ever
HEX has been a controversial token since its inception back in March last year. As with many things in the crypto space it has become tribal, with a group of believers who are happy to buy their coins and lock them up for years on end, trusting that creator Richard Heart’s ‘pumpamentals’ will lead them to the promised land when their stake matures. This cult-like following was in evidence as news got around of Hughes’ actions and the reasons behind them:
I am very impressed that I am involved in this magnificent project, I will give this project maximum attention, in fact it is amazing!
— Mikhail Rusakov (@rus21mix) February 11, 2020
Hex is a very great project and impressive with a team that is very creative and great, I’m sure this project will be successful and go far.
— Pulinda Deshan (@DeshanPulinda) February 11, 2020
In stark contrast, those who have bothered to do any research on the matter have found that the project has some serious flaws, not least among them that the ETH used to buy the HEX is eventually routed back into Heart’s hands:
The total supply of $HEX inflates over time. Richard expects you claim tokens, stake them, buy them with #Ethereum while he gets a free whale stack that he dumps on you with. He can take his free stack and mint himself more free #HEX as 100% of the $Eth used routes back to him
— runbtc [HEX did -99% in 60 days] (@RUN_BTC) February 11, 2020
From a scammer’s point of view it’s a genius concept, and Heart has clearly pulled the wool over thousands of people’s eyes, but it seems that some are finally coming round to the realization of what is actually happening with HEX.
Sadly that still leaves many, many more who are trapped in a HEX staking hell while Richard Heart is able to mint and sell HEX tokens until the day he gets bored…or arrested.