A large amount of Ethereum (ETH) flushing from the address of the Hex Coin (HEX) wallet is being used to purchase more HEX tokens. As AZCoin News reported, HEX/BTC is currently priced below 1 Satoshi – or 0.00000001 BTC. Therefore, it is highly likely that this ETH will then be deposited into a cryptocurrency exchange for the apparent purpose of increasing the liquidity of Ponzi HEX.
ETH was then sent to exchange to provide liquidity for Ponzi HEX traders
Referring to this issue, Richard Heart stated he does not know who is controlling the $ 6.5 million worth of Ethereum that sits in the flush address. However, we can estimate how much Heart is controlling from anywhere between 45% – 70% of all HEX tokens in existence via the token’s origin address. Because HEX is designed so that the original address (i.e., the address of the Heart) receives a copy of all the rewards that the investor gains.
According to RunBTC users, the ‘recycling’ of 50 ETH is probably beginning to happen, starting with the Ponzi HEX flush address and ending up back in its token supply, through a series of fake addresses and exchanges.
Flush address to Dummy 1https://t.co/HVhB1O9tSL
Dummy 1 to Dummy 2https://t.co/QHywT769WK
Bidesk vault 100 mln $hex to Dummy 2https://t.co/RwRLNooPE5
Dummy 2 invest 50 $eth + 100 mln hex to Uniswap liquidity provider contracthttps://t.co/nyidfHrEy9https://t.co/x7XeW1M52d pic.twitter.com/G0VBFcspPe
— runbtc (@RUN_BTC) January 4, 2020
- The first is 50 ETH sent from Flush address to dummy 1
- Then move from Dummy 1 to dummy 2
- They will use 50 ETH buys 100 million HEX from Bidesk
- Finally, HEX tokens sent to Uniswap to provide liquidity
With such evidence, Richard Heart continues to refute any connection with the Ethereum flush address. And he still blatantly profited from his project. According to a Reddit post, some people have estimated that the origin address (OA) received a bonus of around 500 million HEX a day in December.
The article stated:
“This bonus is essentially all of the unclaimed HEX that is to be paid out proportionally to all stakeholders after the initial BTC free claim, and AA (Adoption Amplification) phase are over with. Since a copy of all bonuses and penalties in HEX get paid to the OA, this bonus is also being paid proportionally daily to the OA, which amounts to about 520 million HEX per day.”
— HEX (@HEXcrypto) December 15, 2019
HEX staking system
Besides the pyramid model, Hex also has a HEX staking system. Assuming the token from the original address appears on the staking network, they will receive another round of bonuses.
The article also states how to make a profit by the Hex owner as follows:
“… those same HEX tokens in the OA that were created as a copy of the WaaS bonus out of thin air, are now being staked for ten years in other addresses, and YES these addresses will get another significant chunk of the WaaS (We are all Satoshi) bonus + interest that is meant to benefit all of the other HEX stakes.”
Although he designed the Hex model by the method of 10,000 times profit and interest payment in 2.5 years, Heart seems confident that he will not be in the sights of the SEC. That was mostly thanks to hiding behind a series of automated smart contracts that he claimed had no control over.
And look at the HEX price below, yesterday it just dropped by over 50%. While today, HEX has increased by more than 20% in the past 24 hours.
Disclaimer: This is not trading advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
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