A cryptocurrency has fallen by 99% in the last 12 days…what are the reasons?
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Answer A cryptocurrency has fallen by 99% in the last 12 days…what are the reasons?
The crypto and cryptocurrency community has noticed a 99 percent drop in one of the new cryptocurrencies in the last 12 days, causing some to wonder about the reasons for this sharp drop.
HEX — a scam project that claims rewards for depositing your Ethereum or Bitcoin — has seen its price drop by more than 99 percent in less than two weeks after the project was launched on December 2.
This sharp drop caused the loss of millions of dollars of invested funds with the aim of obtaining fantastic profits in a short time.
Read:Tether is officially launched on the OMG blockchain
Is HEX the shortest scam in the crypto world?
The digital currency “HEX” was launched on the 2nd of this December.
The official website of the project explains that it is the first project to offer bonuses for depositing and offering imaginary benefits based on the blockchain.
To contribute to getting profits from the “HEX” project, the user must deposit their Ethereum or Bitcoin “BTC” to get high rewards and monthly returns.
And the HEX project was not satisfied with that, as the team continued to motivate individuals to buy the “HEX” digital currency after it decreased by 90 percent, after Tweet Posted on December 13th:
Did you know that you can adjust the average purchase?
For example: if the price of a coin drops by 90%, you can double your cryptocurrency at a lower cost!
The HEX team claims to be improving the crypto industry by rewarding everyone who deposits their cryptocurrency with the intention of storing it in HEX.
Read:After Facebook ends Project Novi… Zuckerberg unveils Metaverse digital wallet
Richard Hart, the leader of the “HEX” project, was accused of stealing the investors’ money and offering them the “HEX” cryptocurrency, which lost 99% in the last 12 days.
It appears to the crypto community that the “HEX” team obtained a group of Bitcoin “BTC” and “ETH” coins for the investors and presented them with “HEX” coins that lost their value significantly and short, making it the shortest fraud in the crypto world.
Read:The “Kraken” platform joins the ranks and announces the date for suspending the trading of the digital currency “XRP”
So we repeat once again the warning in Arab Bitcoin Group From rushing and contributing to fraudulent projects that promise to distribute imaginary profits in a short period, so as not to fall into a new victim and be a victim of fraud in the world of digital currencies.
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