Can we now safely say that Helium is a scam and has failed?

There was recently a report that Helium insiders amassed a majority of the tokens earned at the project’s start, hoarding much of the wealth generated in its earliest and most lucrative days. 30 wallets are connected to Helium insiders such as early executives, employees and yes you guessed right their family and friends.

Within six months, more than a quarter of all HNT had been mined by insiders. Each hotspot earned an average 33,000 HNT in August 2019. Today, each hotspot only earns around 2 HNT per month.

Five hotspots, which mined 250,000 HNT within the projects first three months could be linked to the wallet connected to Helium's CEO home in California.