Verge (XVG) moves CROWDFUNDED XVG to Binance!? Hack never fixed. Exit scam!?
Massive Red Flags!
So, first of all, Verge has transferred approximately 18.6 million XVG to Binance. This wouldn't be such a huge deal but it is for a few reasons. Supposedly, this amount was supposed to be used to pay Ledger to integrate an XVG wallet into their software. However, the Ledger CTO has stated, "I am not aware of anyone on our team working on XVG.". This money was donated to Verge in a crowdfund supposedly for their big partnership announcement.
Another fishy aspect of this crowdfund is that 90% of the funds raised were donated by their partner TokenPay. So, if you've ever considered buying anything related to TokenPay, I'd think again. This leads me to believe that they are in cahoots with the XVG team in this whole mess.
Hack not fixed
If that's not enough to raise some red flags for you, screenshots have also come out showing that the Verge hack that happened a week ago hasn't actualy been fixed. Millions of XVG were mined and the devs said they repaired the issue. But, recent screenshots are still showing orphaned blocks and outputs that look exactly like the hack.
I'm making this post as a warning. I had some money in XVG and pulled out after I made some good profits. I will not be investing anymore after these revelations and I would highly encourage others to proceed with heavy caution.
Be safe and be knowledgeable. Always research before investing!
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It appears there are some unscrupulous people out there, solely in pursuit of the almighty dollar.
Integrity is not valued, but greed is.
Thanks for the heads up @aphiso
No problem. Seems like a lot of people are going to get burned by Verge if this is an exit scam.
Just doing what I can to make others aware of what's going on. I almost got burned. But, I doubled my $ on XVG before this info came out, so I got lucky.
This is the Pied Piper in Crypto. The Verge group is following blindly . . .
Their reddit is like a cult. It's pretty sad.
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Thank you for the warning, I have to make the difficult decision to pull out.
I did as well. :( I had high hopes for the project. Been invested since it was about $0.01. But there are far too many sketchy things going on. Not worth the risk anymore.
I got my investement out already, and still have some left. I sold some today again, because of your post. I remember getting warned on steemit that bitconnect was a scam, and I stayed away. And they were absolutely right. I still have some coins left, maybe better to transfer it to bitcoin.