It has been brought to our attention that the original developer of CWXT holds 78% of the coin supply
http://cwxt.7dv.info:3001/address/CZeeNmYAZCWnSeRjtXQ5LXi6zzPKFLkscK The explorer displays the top 25 Balances possess 112% of the coins, which is impossible so its obviously modified by a third party, but centralization is still potentially at risk. Although these tokens have not moved,been added to and have not received a stake payout since January, and are likely dead coins, Crypto X can no longer proceed with the originally designed token swap of CWXT to the new chain as the risk for centralization is far too great and they pose a risk to the progression of the new protocol. This is a risk we cannot take and this is the reason we initially chose to change the CWXT Protocol, as we feared this may be a reality with CWXT distribution.
That the original developer was holding most was common knowledge at the time you were starting this takeover. This risk you are talking about was allready there at the start of your announcement of talking about taking over by swap etc.
We would like to note, the user CryptoworldX on Yobit has no connection with our team , has never had connection with our team, and never will have any connection with our team or protocol. That being said, as a solution to this new discovery, we will be directing our community to sell their CWXT tokens, in order to secure their funds.. Shortly thereafter, we will host an ICO crowdsale for the new Ethereum token, CWX. By hosting an ICO, the development team will be able to secure the efficient funding as recommended by the community to properly grow the CWX protocol as required for a successful development. Furthermore, this is the most secure way we can facilitate the Crypto X project as decentralized as possible to continue working together. We will announce the dates in the coming days after releasing our white paper.
We will be setting the ICO price at a fixed rate. This will allow the community to purchase the equal amount of CWX tokens without risk of the value increasing or decreasing in the process. Each token will sell for $0.02 USD represented in Ether. An example would be 1 CWX / 0.00006 ETH (1ETH=16,666CWX)[ based on 1ETH=$330.00USD] . Every token purchased would be the exact same price until the ico is completed and the token hits exchanges. We will host the sale for the original intended supply of the swap out which is 19,333,333 CWX
In other words all the people that bought CWXT to be able to swap are holding dead coins now, they are the same people that you kept on motivating to buy CWXT. If you were true to people you would still hold on to your word and would still exchange those 150k CWXT to 50k CWX even when there isn't a real swap happening. Now announcing that you are instead going to hold an ICO and sell the new CWX token at a price of $0.02 in ETH makes this whole thing reek from all sides.
We would like to thank everyone for their continued support throughout this process. We are excited to share the next step of our journey with you all in the coming days as we continue to evolve.
Connie H.
CEO Crypto X
Don't thank anyone, thank all the new bagholders of the dead coin CWXT, I'm sure they will be real grateful.