- Whale Alert removes HEX from its monitoring service saying it isn’t what their view of a blockchain is
- Removal sparks claims of censorship
- HEX has done 1,000% in a month
Whale Alert, the Twitter service that monitors the movement of large amounts of cryptocurrency, has removed HEX from its watchlist because it “does not fit our view of what blockchain is about.” Predictably, the move has divided the crypto community, with some claiming that it is good that a scam token has been removed from the platform while others have raised concerns that the act is akin to censorship.
ℹ️ ℹ️ ℹ️ We normally do not comment on projects, but we have decided to remove #HEX from Whale Alert, because it does not fit our view of what blockchain is about. Make sure to do your research and be wary of big promises.
— Whale Alert (@whale_alert) May 4, 2020
HEX Remains Just as Scammy as Ever
HEX was launched to much fanfare and debate in December last year, causing outrage due to its fraudulent nature. Creator Richard Heart, who calls himself a “blockchain thought leader”, established HEX in the model of a high interest blockchain certificate of deposit, requiring users to hand over Ethereum for HEX tokens or claim them through their Bitcoin holdings under the proviso that they hold them for years while he took the Ethereum – some 50,00 of them.
The entire point of the token is to increase in value, something that the marketing of the token was unashamedly up front about and something that Heart constantly revels in. In testament to the old crypto adage that scams pump the hardest, HEX enjoyed an extraordinary April which saw it rise over 1,000%, something that Heart has been quick to proclaim:
HEX rhymes with that. HEXdex does too. 🙂
— Richard Heart: HEX.win did 101x price!🚀M⬣⬣N (@RichardHeartWin) May 4, 2020
Whale Alert Pulls the Plug
Whale Alert has clearly had enough of Heart’s antics and removed HEX monitoring from its services, which elicited a raft of differing opinions:
Nice censorship. You are not there to decide what is or not, it’s decentralized system and if market decides they want HEX they should be able to follow it. Not cool at all.
— HankJames (@RealHankJames) May 4, 2020
Lols yeah tell that to all the guys that just got 99x 🤡
— Hexologist ⬣ (@Hexologist31) May 5, 2020
While many HEX holders were understandably celebrating, none were actually able to realize their gains due to the necessity to hold their tokens for anything up to 10 years. Only those trading the tokens were able to make any actual money from the huge gains, and with Heart exercising total control over the token there is every chance he engineered this pump in order to increase the exposure of the scam and get more investors.