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WOOF COIN
Since the beginning of the pandemic, pet surrendering rates have increased dramatically around the world. Waitlists for surrendering household pets have increased to a remarkable eight months as animal shelters and welfare organisations have seen an increase of 34% for animals needing help.
Typically, animal shelters are under resourced and under financed; relying heavily on donations and the volunteer efforts to assist animals.
This is where Woof Coin steps in. As avid lovers of dogs, we wanted to make a difference. Using the power of Proof of Work mining, weâve created a coin where miners are contributing to the donation of money to animal welfare shelters. These shelters initially include the ASPCA who already have a cryptocurrency donation mechanism but with intention to expand to the RSPCA and other organizations suggested by the community.
Our aim is to put animals first and we intend on developing ongoing relationships with pet shelters to help adoption.
Coins Specifications
21 billion supply
Block 2,100,000 halving (4 years estimated)
Algorithm: KawPOW
Proof of Work
Download Links:
Windows wallet - https://github.com/Woof-Core/WoofCoin/releases/download/WoofCoin/WoofCoin.zip
Social
Coming soon!
Please reach out if you have any questions Smiley
Re: [RESOLVED] kucoin claiming kyc now mandatory demanding ID documents to withdraw
⭐ Merited by nutildah (1)
My account now got reinstated and they executed my withdrawal without me needing to pass the ECDD.
But it took them over 14 days after.
Will definitely avoid using KuCoin going further and warn people that are considering to use KuCoin because of 'no KYC'.
But it took them over 14 days after.
Will definitely avoid using KuCoin going further and warn people that are considering to use KuCoin because of 'no KYC'.
Thank you for your suggestion. Please understand that every exchange is developing its own risk management and anti-money laundering policy. It is difficult to say whose policy is the best, though we are open to suggestions and are willing to improve. For now, we would appreciate if you could respect our rules. Thank you for helping us create a safe and fair trading environment.
You are not creating a "safe and fair trading environment".
You are stealing customer funds and enforcing losses on people du to malicious action and inaction to resolve issues.
Due to your unreasonable lockup of my funds and unwillingness to resolve the isse you so far forced a loss of nearly 80% on me.
It has been 14 days since you froze my withdrawal.
Right the next day when I realized that you froze my transaction, as there was no notification or request for identification whatsover, I provided you with everything needed to prove the legitimacy of my funds. As you were still unwilling to release my funds I actually went forward and completed your second level KYC.
It's now 11 days since my KYC was approved. And 7 days since I was promised to be offered a solution 'very soon'.
I will now get the authorities and my lawyers involved as this is seriously unacceptable.
Re: [WARNING!] kucoin claiming kyc now mandatory demanding ID documents to withdraw
14 Days have passed since they froze my funds.
11 Days since my KYC was approved.
7 days since their last communication where they stated a solution will be offered to me 'very soon'.
Dead silence since. As it stands to me, KuCoin is scamming it's users.
They have no reason to hold my funds.
11 Days since my KYC was approved.
7 days since their last communication where they stated a solution will be offered to me 'very soon'.
Dead silence since. As it stands to me, KuCoin is scamming it's users.
They have no reason to hold my funds.
Re: [WARNING!] kucoin claiming kyc now mandatory demanding ID documents to withdraw
Yea, I 'unfortunately' have to agree with you on this. It's completely warranted for KuCoin to suspect me of money laundering and require a CDD.
That's not really what I'm complaining about. At least for my case.
It's more of a best practice question if they offer the service as they do if they know they won't fulfill it like this.
The 5 BTC withdrawal limit would always warrant the requirement of CDD if they want to be AML compliant.
So it's this case by case decision that annoys me.
I get flagged for possible money laundering, and even after providing them with all they would need to free me from the suspicions they do not act on it.
While reported scammers that use KuCoin to launder stolen funds are protected.
The amount in question would not warrant AML actions as it does not surpass these thresholds. So they are holding my funds subject to their self-imposed risk screening. Based on this they could have cleared me after verifying the legitimacy of my funds, which would have been easy.
But even if I don't agree with the process, I do understand why they would want that as it's their procedure.
But, as soon as it could be verified that I am the beneficiary owner of the funds and that the funds are not involved in criminal activity, they should have cleared the suspicion and from a legal point of view and AML regulations, they are free to return my funds to me.
Even without KYC as I am not surpassing the $8k CDD threshold by AML regulations.
So based on this they should have offered me to go through KYC and execute my withdrawal as par their ToS, or close my account and return the funds to where I sent them from.
But instead, they are trying to coerce users into giving them information that is not covered in the requirements of international AML CDD, as those pretty clearly state what is required to be compliant.
This is getting even more critical by asking me to provide this information basically publicly.
If their internal risk management flags an account, but the legitimacy of the funds can easily be verified, there is no legal need for AML based CDD unless other requirements are triggered.
So what they are trying to enforce beyond this is up to them.
That's not really what I'm complaining about. At least for my case.
It's more of a best practice question if they offer the service as they do if they know they won't fulfill it like this.
The 5 BTC withdrawal limit would always warrant the requirement of CDD if they want to be AML compliant.
So it's this case by case decision that annoys me.
I get flagged for possible money laundering, and even after providing them with all they would need to free me from the suspicions they do not act on it.
While reported scammers that use KuCoin to launder stolen funds are protected.
The amount in question would not warrant AML actions as it does not surpass these thresholds. So they are holding my funds subject to their self-imposed risk screening. Based on this they could have cleared me after verifying the legitimacy of my funds, which would have been easy.
But even if I don't agree with the process, I do understand why they would want that as it's their procedure.
But, as soon as it could be verified that I am the beneficiary owner of the funds and that the funds are not involved in criminal activity, they should have cleared the suspicion and from a legal point of view and AML regulations, they are free to return my funds to me.
Even without KYC as I am not surpassing the $8k CDD threshold by AML regulations.
So based on this they should have offered me to go through KYC and execute my withdrawal as par their ToS, or close my account and return the funds to where I sent them from.
But instead, they are trying to coerce users into giving them information that is not covered in the requirements of international AML CDD, as those pretty clearly state what is required to be compliant.
This is getting even more critical by asking me to provide this information basically publicly.
If their internal risk management flags an account, but the legitimacy of the funds can easily be verified, there is no legal need for AML based CDD unless other requirements are triggered.
So what they are trying to enforce beyond this is up to them.
Re: [WARNING!] kucoin claiming kyc now mandatory demanding ID documents to withdraw
Yea I did some digging on my end and as far as I can tell I neither violated Hong Kong (where Kucoin is based) nor my local AML thresholds that would warrant reporting my transactions to authorities.
So I doubt that is what happened. For reference, the CDD threshold by HK AML regulations is $8000 for wire transfers.
The guidelines can be verified here.
If they can make a proper case that warrants enhanced due diligence, and I do have to admit, that they could in my case, they are allowed or even required to demand Identification.
But, as far as I can tell neither HK nor European AML regulations require the data KuCoin is demanding.
HK AML Identification state only:
My 'local' AML in addition also always requires a residential address.
So I doubt that is what happened. For reference, the CDD threshold by HK AML regulations is $8000 for wire transfers.
The guidelines can be verified here.
If they can make a proper case that warrants enhanced due diligence, and I do have to admit, that they could in my case, they are allowed or even required to demand Identification.
But, as far as I can tell neither HK nor European AML regulations require the data KuCoin is demanding.
HK AML Identification state only:
- full name
- date of birth
- nationality
- unique identification number
My 'local' AML in addition also always requires a residential address.
Re: [WARNING!] kucoin claiming kyc now mandatory demanding ID documents to withdraw
It is a valid excuse to hold the funds (according to AML/CFT policies). Chain analysis can't link deposits and withdrawals on exchanges without contacting the exchanges and having them provide the information. This is why similar actions (depositing and withdrawing without making trades) are flagged and will result in having to provide KYC information, as it is a money laundering indication. Exchanges have no other option than to follow the AML/CFT regimes.
Don't get me wrong, I'm not giving my personal opinion here but this is how these policies work. Regulations will only get worse from here. I wouldn't be surprised if they already reported OP's transaction(s) to local authorities (if they know what country he's from).
Don't get me wrong, I'm not giving my personal opinion here but this is how these policies work. Regulations will only get worse from here. I wouldn't be surprised if they already reported OP's transaction(s) to local authorities (if they know what country he's from).
But that's my whole point here. I did provide them with my KYC information.
I also explained who I am and where the funds were coming from.
KuCoin has everything they need to verify the legitimacy of my claims and funds.
The data they are asking me to provide on the other hand contributes nothing to this.
Neither my phone number, my residential address, TAX number, Employer information nor annual income has anything to do with the funds they froze.
Giving them this information would not change, that they need to be contacted to get the information about where the funds went.
And if they should ever be contacted the KYC information they have is by far enough to verify my identity.
So all giving them this information does is opening myself up to a lot of possible attacks as I can not ensure they are kept safe.
Nor have I even been provided a way to submit this data securely if I wanted to.
I simply do not trust KuCoin to keep my data safe. Asking me to submit all this in plaintext in an email just proves my case.
If they clearly stated I would require to KYC before making transactions I would probably have done so.
But this is not a risk I am willing to take. And from the looks of it that is EXACTLY what they are banking on here.
All I'm asking of them at this point is to just refund my tokens to the wallet I sent them from.
Perhaps they are contacting your local authorities to report their 'suspicions' and holding your funds until they hear back from them. If the authorities are satisfied with the information you provided KuCoin can release your funds:
Quote
(c) KuCoin will, where possible, return any Funds stored in your KuCoin Account not otherwise owed to KuCoin and/or will use commercially reasonable efforts to provide you with a period of 90 days to transfer affected Digital Tokens from your KuCoin Account, unless prohibited by applicable laws or regulations or by order of law enforcement or governmental authority,
Their privacy policy is also very clear on why they can/will collect personal data:
Quote
(l)carrying out due diligence or other screening activities (including background checks) in accordance with legal or regulatory obligations (whether Seychelles or foreign country) applicable to us or our affiliates/associated companies, the requirements or guidelines of governmental authorities (whether Seychelles or foreign country) which we determine are applicable to us or our affiliates/associated companies, and/or our risk management procedures that may be required by law (whether Seychelles or foreign country) or that may have been put in place by us or our affiliates/associated companies;
(m)to prevent or investigate any fraud, unlawful activity or omission or misconduct, whether or not there is any suspicion of the aforementioned; dealing with conflict of interests; or dealing with and/or investigating complaints;
(n)complying with or as required by any applicable law, court order, order of a regulatory body, governmental or regulatory requirements, of any jurisdiction applicable to us or our affiliates/associated companies, including meeting the requirements to make disclosure under the requirements of any law binding on us or our affiliates/associated companies, and/or for the purposes of any guidelines issued by regulatory or other authorities (whether of Seychelles or elsewhere), with which we or our affiliates/associated companies are expected to comply;
(o)complying with or as required by any request or direction of any governmental authority (whether Seychelles or foreign country) which we are expected to comply with; or responding to requests for information from public agencies, ministries, statutory boards or other similar authorities (whether Seychelles or foreign country). For the avoidance of doubt, this means that we may/will disclose your personal data to such parties upon their request or direction;
(m)to prevent or investigate any fraud, unlawful activity or omission or misconduct, whether or not there is any suspicion of the aforementioned; dealing with conflict of interests; or dealing with and/or investigating complaints;
(n)complying with or as required by any applicable law, court order, order of a regulatory body, governmental or regulatory requirements, of any jurisdiction applicable to us or our affiliates/associated companies, including meeting the requirements to make disclosure under the requirements of any law binding on us or our affiliates/associated companies, and/or for the purposes of any guidelines issued by regulatory or other authorities (whether of Seychelles or elsewhere), with which we or our affiliates/associated companies are expected to comply;
(o)complying with or as required by any request or direction of any governmental authority (whether Seychelles or foreign country) which we are expected to comply with; or responding to requests for information from public agencies, ministries, statutory boards or other similar authorities (whether Seychelles or foreign country). For the avoidance of doubt, this means that we may/will disclose your personal data to such parties upon their request or direction;
Not sure where I read it but I think that, according to AMLD5, exchanges are no longer allowed to inform users in case of an investigation/inquiry.
Maybe I would not be as pissed and concerned about this if they hadn't blatantly told me they could not hold or freeze customer funds half a year ago when I got 'hacked' for a big amount of tokens that got laundered through KuCoin.
I honestly don't care if they reported me to authorities, and if local authorities ask this information from me I am happy to comply as nothing about the funds is in any way fraudulent.
But sending a shit ton of private information, unencrypted across the globe to be permanently stored by some shady company goes against about everything I believe in.
I simply don't see what applicable laws or regulations I should have violated. Even after asking multiple times, they did not provide me with a reason or regulation I may have violated, other than that they want me to submit this data.
As the whole process took place on a Friday evening an order by law enforcement or governmental authority is highly unlikely.
I do get, how creating a new account depositing funds and then trying to withdraw them again might trigger red flags. Thus why I was willing to comply with KYC.
But the privacy invasion beyond this is and in this form is simply out of place.
Re: [WARNING!] kucoin claiming kyc now mandatory demanding ID documents to withdraw
But that's my whole point here. I did provide them with my KYC information.
I also explained who I am and where the funds were coming from.
KuCoin has everything they need to verify the legitmacy of my claims and funds.
The data they are asking me to provide on the other hand contribute nothing to this.
Neither my phone number, my residential address, TAX number, Employer information nor annual income has anything to do with the funds they froze.
That's not right at all... You should be allowed to withdraw your funds to the address you sent them from, at the very minimum. What I recommend is to post a comment describing your situation in their main thread and see if the KuCoin Exchange account replies to you. They may be able to help you out quite a bit as they were just online today. If that doesn't work, reply back here and I will help you to open a formal scam accusation against them, which might stimulate them into action.
Not a valid excuse to hold somebody's funds without any sort of way to get them back. Exchanges are only decent mixers if they are completely anonymous, like a DEX, and even then there's ways to see who got what, where its been, and where its going. Exchanges that ask for KYC are the exact opposite of mixers.
And of course there's a way to trace where the funds are going, its called blockchain analytics.
They even state in their own TOS that they can decide to close accounts and return the funds where they came from.
So that's exactly what I told them to do. If they don't want to service me they should just close my account and send the tokens back to the account I deposited them from.
This doesn't change though, that their whole ask is stupid.
I went through their stupid KYC, and everything involving this transaction is known.
They know who the wallet that paid me belongs to.
They know why I am getting funds and they know who I am.
The ECDD questionary would not cover any of this.
But what it would do is tell them my employer info, my annual income, my address, give them a copy of my handwritten signature, and the name of my Bank.
In addition to my phone number. This is a serious honeypot of data they ask of me.
I also explained who I am and where the funds were coming from.
KuCoin has everything they need to verify the legitmacy of my claims and funds.
The data they are asking me to provide on the other hand contribute nothing to this.
Neither my phone number, my residential address, TAX number, Employer information nor annual income has anything to do with the funds they froze.
4.) But even after I did go through full KYC they are not releasing my funds.
That's not right at all... You should be allowed to withdraw your funds to the address you sent them from, at the very minimum. What I recommend is to post a comment describing your situation in their main thread and see if the KuCoin Exchange account replies to you. They may be able to help you out quite a bit as they were just online today. If that doesn't work, reply back here and I will help you to open a formal scam accusation against them, which might stimulate them into action.
Depositing and withdrawing funds, without making trades, is a huge AML red flag. Exchanges are basically huge mixers. If you deposit funds into an exchange and withdraw those funds there is no way to trace where the funds are going.
Not a valid excuse to hold somebody's funds without any sort of way to get them back. Exchanges are only decent mixers if they are completely anonymous, like a DEX, and even then there's ways to see who got what, where its been, and where its going. Exchanges that ask for KYC are the exact opposite of mixers.
And of course there's a way to trace where the funds are going, its called blockchain analytics.
They even state in their own TOS that they can decide to close accounts and return the funds where they came from.
So that's exactly what I told them to do. If they don't want to service me they should just close my account and send the tokens back to the account I deposited them from.
This doesn't change though, that their whole ask is stupid.
I went through their stupid KYC, and everything involving this transaction is known.
They know who the wallet that paid me belongs to.
They know why I am getting funds and they know who I am.
The ECDD questionary would not cover any of this.
But what it would do is tell them my employer info, my annual income, my address, give them a copy of my handwritten signature, and the name of my Bank.
In addition to my phone number. This is a serious honeypot of data they ask of me.
Re: [WARNING!] kucoin claiming kyc now mandatory demanding ID documents to withdraw
4.) But even after I did go through full KYC they are not releasing my funds.
That's not right at all... You should be allowed to withdraw your funds to the address you sent them from, at the very minimum. What I recommend is to post a comment describing your situation in their main thread and see if the KuCoin Exchange account replies to you. They may be able to help you out quite a bit as they were just online today. If that doesn't work, reply back here and I will help you to open a formal scam accusation against them, which might stimulate them into action.
Depositing and withdrawing funds, without making trades, is a huge AML red flag. Exchanges are basically huge mixers. If you deposit funds into an exchange and withdraw those funds there is no way to trace where the funds are going.
Not a valid excuse to hold somebody's funds without any sort of way to get them back. Exchanges are only decent mixers if they are completely anonymous, like a DEX, and even then there's ways to see who got what, where its been, and where its going. Exchanges that ask for KYC are the exact opposite of mixers.
And of course there's a way to trace where the funds are going, its called blockchain analytics.
They even state in their own TOS that they can decide to close accounts and return the funds where they came from.
So that's exactly what I told them to do. If they don't want to service me they should just close my account and send the tokens back to the account I deposited them from.
This doesn't change though, that their whole ask is stupid.
I went through their stupid KYC, and everything involving this transaction is known.
They know who the wallet that paid me belongs to.
They know why I am getting funds and they know who I am.
The ECDD questionary would not cover any of this.
But what it would do is tell them my employer info, my annual income, my address, give them a copy of my handwritten signature, and the name of my Bank.
In addition to my phone number. This is a serious honeypot of data they ask of me.
Re: [WARNING!] kucoin claiming kyc now mandatory demanding ID documents to withdraw
Point being here is, that it's not related to the currency.
What they are doing is simple blackmail for personal data. This is especially blatant as they do not provide a way to delete accounts.
So once they have your data, they store it permanently. No way around it.
I made ONE deposit valued about 5k. After realizing I would no be able to sell it due to liquidity I wanted to withdraw to Bittrex.
That's when they froze my account without either notifying me or giving me a reason.
After completing KYC they simply stopped responding to my emails entirely.
This is not about AML, this seems to rather be a KYC scam where they lock in people they suspect of being based in a country they don't service so they can keep the funds.
In my case, it's especially absurd.
I have an official and public position within the project the funds were frozen from.
Making freezing my funds because of AML completely absurd.
1.) It was my first ever deposit. I didn't even trade anything, just tried to withdraw.
2.) The funds can be traced directly from the Team wallet where they were minted to me, and then to the exchange. No fishy business.
3.) The amount itself, as I'm based in Europe, legally would not even require KYC.
4.) But even after I did go through full KYC they are not releasing my funds.
What they are doing is simple blackmail for personal data. This is especially blatant as they do not provide a way to delete accounts.
So once they have your data, they store it permanently. No way around it.
I made ONE deposit valued about 5k. After realizing I would no be able to sell it due to liquidity I wanted to withdraw to Bittrex.
That's when they froze my account without either notifying me or giving me a reason.
After completing KYC they simply stopped responding to my emails entirely.
This is not about AML, this seems to rather be a KYC scam where they lock in people they suspect of being based in a country they don't service so they can keep the funds.
In my case, it's especially absurd.
I have an official and public position within the project the funds were frozen from.
Making freezing my funds because of AML completely absurd.
1.) It was my first ever deposit. I didn't even trade anything, just tried to withdraw.
2.) The funds can be traced directly from the Team wallet where they were minted to me, and then to the exchange. No fishy business.
3.) The amount itself, as I'm based in Europe, legally would not even require KYC.
4.) But even after I did go through full KYC they are not releasing my funds.
Re: [WARNING!] kucoin claiming kyc now mandatory demanding ID documents to withdraw
I will document going further. Didn't document at first as I wasn't worried. I had heard reports of them sometimes taking longer to execute withdrawals, but did not expect something like this.
And yes, the red makes it hard to read, would remove it.
And yes, the red makes it hard to read, would remove it.
Re: [WARNING!] kucoin claiming kyc now mandatory demanding ID documents to withdraw
Basically the same happened to me.
I deposited 5k USD worth of crypto, then price tanked and due to low liquidity I decided to withdraw again.
When after 12 hours my withdrawal still hadn't gone through I reached out to their customer support.
They told me something about technical issues and escalating the issue. I then later on received an email telling me to fill out an ECDD form with tons of sensitive information like employer details, annual income etc.
On top they gave me a deadline of three days to comply.
It's ridiculous.
And the joke is, I even have an official position with the project the funds got frozen from. There clearly is no basis for an ECDD.
I deposited 5k USD worth of crypto, then price tanked and due to low liquidity I decided to withdraw again.
When after 12 hours my withdrawal still hadn't gone through I reached out to their customer support.
They told me something about technical issues and escalating the issue. I then later on received an email telling me to fill out an ECDD form with tons of sensitive information like employer details, annual income etc.
On top they gave me a deadline of three days to comply.
It's ridiculous.
And the joke is, I even have an official position with the project the funds got frozen from. There clearly is no basis for an ECDD.
⭐ Merited by nutildah (1)
The third member of the WAX Advisory Council is Jay Ong, Executive Vice President and Head of Marvel Games.
Pretty stoked here!
Pretty stoked here!
As second Member of the WAX Council a Chief Marketing Officer from Microsoft (Peter DeBenedictis) is joining.
This also includes a deal where WAX is providing Microsoft with custom NFTs.
This also includes a deal where WAX is providing Microsoft with custom NFTs.
Just for reference as all the original links are dead.
TELEGRAM | TG ANNOUNCEMENTS | WEBSITE | TWITTER | MEDIUM
TELEGRAM | TG ANNOUNCEMENTS | WEBSITE | TWITTER | MEDIUM
Re: Digital Collectibles: Topps launches Garbage Pail Kids NFTs on WAX
⭐ Merited by nutildah (2)
So anyway, Topps thought it would be a good idea to release their trading cards as NFTs, starting with the Garbage Pail Kids series. They toyed with the idea of using Ethereum or EOS and then settled on WAX, which is an EOS clone that is especially geared for trading items for video games. Thought its been around for a couple years now, WAX hasn't really brought any video game publishers on board, and the Topps launch of the GPK series is by far their biggest event to date.
Just to add a bit here:
WAX is not a clone of EOS. EOS, WAX, and quite a few other chains are built on the EOSIO protocol. Unfortunately, only EOS took the name and fame and now people keep mixing it up.
WAX is geared towards e-commerce, mostly focusing on no-coiner adoption. As they did with this GPK release using their cloud wallet that allows users to interact with smart contracts without handling keys or anything. Just SSO with email and go.
They do have quite a few partnerships in gaming one big to name would be Animoca Brands.
⭐ Merited by nutildah (1)
Creating a new official thread here seems like a great idea, but...
I clearly remember the way WAX launched, they had investors and advisors outside of this community and never needed to put much effort into hanging around at BCT. The deal with Topps seems to show they have a bright future whether or not they do traditional crypto marketing.
Yea, WAX never really cared about the crypto market much in general. They are mainly targeted at mainstream audiences with stuff like VGO, GPK and their Cloud Wallet.
This strongly reflected in their (basically non-existing) marketing.
They had a new marketing guy for a while who improved the situation and actually pushed updates here, but he is gone again.
I'll reach out to them and check if we can have the post updated.
If not I might just start a new one. I think the WAX Council is a good thing to have a new post about with an intro to WAX.
WAX formed the WAX Advisory Council council.wax.io to connect WAX with mainstream tech and media companies.
The first three companies to have representatives join seem to be Google, Marvel and Microsoft.
Surprisingly it made the coin tank 20% because people didn't understand that a council is attended by a Person and not a company.
The guy joining for Google is their product counsel for basically all legal blockchain matters.
The first three companies to have representatives join seem to be Google, Marvel and Microsoft.
Surprisingly it made the coin tank 20% because people didn't understand that a council is attended by a Person and not a company.
The guy joining for Google is their product counsel for basically all legal blockchain matters.
So what is wax basically? Any details about thier crowdsale and who are members behind that project. They should be reviewing every ico by now cause of some them are scam ,they will leave the project once they got enough money for themselves.
It is a token that you can use to buy op-skins. The project seems legit and all that. But the team has been changing the terms of the ICO and the last thing has been issuing tokens to an exchange which sold them unlocked before giving them to their own contributors which will lose the first hours of tranding if not days.
Also, news of underselling and obscure deals are around.
Just for future reference if someone stumbles upon this:
What happened here was not WAX issuing tokens to an exchange early but the exchange listing a scam contract before WAX even started distributing their tokens.
Those scammers managed to deposit and sell quite a lot of tokens before Huobi realized their mistake.
Thus for days, there were more scam tokens traded on the exchange than real ones.
IMO WAX is highly undervalued because most people don't have an actual idea about what WAX is and consider it being a mere gaming token like we have so many.
They do not realize that WAX is a dapp platform, providing semi-passive income for token holders, is one of the most used chains in existence and already generating millions of revenue every month on its beta chain.
With the mainnet going live this Sunday, tokenswap, ticker change and first bigger projects launching on mainnet I think this is likely going to change.
In Q1 2019 WAX had an average daily transaction amount of 7 Million transactions until they moved most of those transactions onto a private sidechain in preparation for the mainnet launch.
With the mainnet launch, those will be moved back, and by now even more projects launched on WAX.
With the microservice layer WAX should become the most used chain in existence transaction wise again.
I highly recommend watching this presentation from the BuiltOnEosio Event at EOS Israel.
It gives a glimpse at what WAX is going to become and the new whitepaper they are going to release in the upcoming days.
https://www.youtube.com/watch?v=ePvhH77JMog
So why by end of August, WAX has it's mainnet tokenswap that runs until 30th of August. People that swap before and lock their tokens will receive a tremendous bonus, so circulating supply/liquidity on exchanges will decrease drastically.
They do not realize that WAX is a dapp platform, providing semi-passive income for token holders, is one of the most used chains in existence and already generating millions of revenue every month on its beta chain.
With the mainnet going live this Sunday, tokenswap, ticker change and first bigger projects launching on mainnet I think this is likely going to change.
In Q1 2019 WAX had an average daily transaction amount of 7 Million transactions until they moved most of those transactions onto a private sidechain in preparation for the mainnet launch.
With the mainnet launch, those will be moved back, and by now even more projects launched on WAX.
With the microservice layer WAX should become the most used chain in existence transaction wise again.
I highly recommend watching this presentation from the BuiltOnEosio Event at EOS Israel.
It gives a glimpse at what WAX is going to become and the new whitepaper they are going to release in the upcoming days.
https://www.youtube.com/watch?v=ePvhH77JMog
So why by end of August, WAX has it's mainnet tokenswap that runs until 30th of August. People that swap before and lock their tokens will receive a tremendous bonus, so circulating supply/liquidity on exchanges will decrease drastically.