 | What is Hex?HEX is a token on the Ethereum network that advertises itself as a way to earn 40% per year with “certificates of deposit.” Hex is different because it’s being sold as an investment furnishing returns, uses banking terminology, and is heavily marketed out in the real world attempting to draw in people who don’t know what to look out for when it comes to crypto scams. Its founder/CEO, Richard Heart, claims that HEX is a far superior store of value than Bitcoin and guarantees those who HODL high rewards. Relentless shillingHEX gets shilled a LOT on social media and unfortunately, HEX also gets shilled on Reddit. An example: Even though HEX is typically blacklisted here. Some posts/comments fall through the cracks, as TNG said today: Yet you will find HEX everywhere, like taxis, busses, and Nascar cars: Hex should be avoidedYet Hex is anything but a good project. Hex uses scam tactics (e.g. referral bonusses and get-rick-quick-schemes), has no use-case, and uses a ponzi mechanism staking scheme. Bybit summarizes these points very well: Not to mention that Richard Heart owns the large majority of all HEX tokens (some say 90%) and is just waiting to dump them. All top 150 token holders were created within an hour and have the same amount of Hex. Who own's these? You guessed it, Richard Heart. Richard Heart (founder/CEO) is a fraud and a scammerRichard Heart, whose real name is Richard James Schueler, is a "convicted spam king". He has a rich history of shady businesses like spamming Viagra and anti-aging pills, for which he got sued in the early 2000s. u/Rootpl recently had a nice post titled "Is Richard Heart a fraud and scammer? TLDR: Yes" that elaborates on these issues. [link] [comments] |
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