Post
Topic
Board Altcoin Discussion
Re: [WARNING] Walton Chain (WTC) is a SCAM
by
Zoltes
on 29/09/2017, 19:27:22 UTC
I think it's good that people are questioning some uncertain facts (though probably the title should be "COULD be a scam") and it's not good that the team is deleting reddits like this and this. However, the concerns about the fake team and registrant dns don't seem to be valid.

The most valid concern is that the owners control 70% of the tokens. In fact there are 3 addresses with a huge stake. First is indeed theirs with 42.8571%, the second is Binance's address, and the third, according to them, is a big presale investor. If that's a lie, they have 56%. It's certainly something to worry about, though we've seen that in most of other projects even for Ethereum (and that invoked lots of posts like this one) and Bitcoin (4.11% of addresses own 96.53% of BTC).