Andreas Antonopoulos Offered 10 BTC to Endorse “Scamcoin” HEX

The crypto guru also asked the Twittersphere to draw their own conclusions.

Thanks for having integrity.

— They call me clayboyn (@Clayboyn) August 13, 2020

A HEX on You

HEX coin is the brainchild of Richard Heart, a popular crypto-enthusiast with a checkered past. As a spammer, Heart “carpet-bombed” unsuspecting internet users in the 1990s. He fraudulently advertised free money and organ enlargement. Though largely forgotten, a news article on panama-guide.com explained his spamming scheme. This revolved around a court case that Heart lost. While the site is down, a screenshot still exists. The article dubs him, the “Friggin Spam King”. Antonopoulos’ tweet was likely aimed directly at Heart. However, with some wit, Heart shrugged off Antonopoulos ‘s inference, suggesting someone else had made the 10 BTC offer.

Damn, I didn't even get offered that. And I even wrote the entire anti-scam section on the techspecs page.

— Richard Heart: HEX.com pays 25%. 263x in 301 days⬣ (@RichardHeartWin) August 13, 2020

Meanwhile, many analysts say HEX is basically a Ponzi scheme. This Reddit post lays out a number of Heart’s alleged less-than-honest dealings. What’s more, the Hex website is somewhat suspicious. One video on the site begins, “Welcome to the opportunity of a lifetime.” It explains that ETH went from 0.15 to $1500 in only a few years and that HEX will repeat this, allegedly, higher and faster. Heart argues that 18,000,000% returns are possible with HEX. He further claims that, “Hex is the best cryptocurrency I have ever seen.” His Tokenomics video has some circular logic, though. Holders are incentivized to hold their coins, which will drive the price of HEX up. This will apparently further incentivize holders to hold. Though it promises interest on locked coins, the purpose of HEX is not entirely clear. Recently, Richard Heart blatantly promoted a pump and dump of his coin.

An interesting tactic has appeared on HEX. People are bidding the lowest possible values on the HEX/BTC pair, 1 & 2 satoshi. Then even if they sell the next tick up at 3 sat, they still make 50% or 100%. Some make 800% though. Only .05% fees. Discount link https://t.co/mfeMhO7vMl pic.twitter.com/2ILIhWYyqa

— HEX.com pays 25% APY!⬣🚀 (@HEXcrypto) December 19, 2019

When Bitcoin.com listed HEX, the controversial site took heat for the move. Ledger also added the currency to its list of supported coins. Heart heavily promotes his HEX token on social media. During a “fireside chat”, Heart explained some of his motivations in the crypto market. They are telling.

Bite Back

Though Antonopoulos’ tweet garnered mostly an enthusiastic response, some parried back. Allen Hena, a fintech consultant, held his ground in response to the guru.

Unless it was Richard himself, not sure what this proves. I could offer you 100 BTC right now. This seems like an attack on HEX honestly. I have my free claim HEX amount, which isn't anything to bag defend but I'd say HEX has done more than others to prove it isn't a scam.

— Allen Hena (@RealAllenHena) August 13, 2020

More striking were the accusations by Hex enthusiast @QuattroCincoHex that Antonopoulos was acting as a pawn.

2/ That said, this does seem like a rogue actor or a setup to paint HEX in a negative light. You've got enough on your plate and I respect the position of not engaging in endorsements, plus it would water down your impartiality. Is it not possible that someone is using you here?

— QuattroCincoHEX (@quattrocincoHEX) August 13, 2020

In contrast to his shady dealings, Heart was not always a friend to crypto scams. Throughout 2017 he espoused Bitcoin as the one true way to go and warned against altcoins. To this day, he warns others to be wary of scams:

If you're promoting insecure, un-audited financial software, reevaluate your life.

— Richard Heart: HEX.com pays 25%. 263x in 301 days⬣ (@RichardHeartWin) August 13, 2020

Overall, Antonopoulos has a reputation for honesty. Despite being accused of plagiarism in April of this year, Antonopoulos has been called a, “voice of reason in a sea of noise.” The crypto space can be a confusing and frustrating one. Perhaps the less noise, the better?