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HEX has no use case and in essence acts as a scam and a ponzi - please stay away

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HEX has no use case and in essence acts as a scam and a ponzi - please stay away

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 shilling

HEX gets shilled a LOT on social media and unfortunately, HEX also gets shilled on Reddit. An example:

https://preview.redd.it/pmqndfwh5eja1.png?798&format=png&auto=webp&s=6a547b7e997708e6016c0fa989bbae93ec9dc94b

Even though HEX is typically blacklisted here. Some posts/comments fall through the cracks, as TNG said today:

https://preview.redd.it/agjb2w568eja1.png?630&format=png&auto=webp&s=f0d98b0bf74a9fda5ebbd986c90029239ec51fb6

Yet you will find HEX everywhere, like taxis, busses, and Nascar cars:

source: wantfi.com

source: wantfi.com

source: wantfi.com

Hex should be avoided

Yet 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:

https://preview.redd.it/mc50m9z27eja1.png?689&format=png&auto=webp&s=801c5b3f77870cd6fb09aff0106554d2a1ee9286

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 scammer

Richard 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.

Richard Heart, the king of Spam (source: archive.ph)

submitted by /u/Beyonderr
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