The crypto industry is certainly among the most prolific in the Tech sector. Every day, dozens, even hundreds of new crypto projects are born. Obviously, many of these are just scams. The BEN Coin project is potentially one.
The BEN Coin project, a scam according to Ripple
One of the most constant things in the crypto industry is the proliferation of scams. Crypto scams are legion and even the most knowledgeable users sometimes fall victim to them. Could the BEN Coin project be one of them? Doubt is allowed according to Ripple.
This is particularly what suggests a recent speech by David Schwartz, the technical director of the crypto firm. The manager did not state outright that BEN Coin is a scam.
However, he supported one user, who thinks the BEN Coin project is 100% one. Questioned by Schwartz on the elements underlying his opinion, the user delivered two hypotheses to explain himself.
The first is that this project is likely to be subject to a rug pull. The idea behind this term is that promoters abandon their project without warning. Obviously, by disappearing in nature with the assets of the users.
The second is linked to the Bitboy Crypto Youtube channel. In this case, it would rather be his involvement in the project that would turn out to be a rug pull. Without expressing contrary ideas, David Schwartz recognized the relevance of these doubts.
Stakeholder reaction
In light of these elements, we can say that the BEN Coin crypto project should be taken with a grain of salt. Especially since the stakeholders did not react… Although Bitboy responded to these allegations, considering them to be unfounded and false. This, by treating its detractors as haters.
Bitboy also called on users to ignore these accusations. According to its manager Ben Armstrong, the crypto should actually serve as a governance token for its DAO. Unconvincing as an argument.
Moreover, how then to explain that the existence of BEN Coin was only disclosed two days after its launch? Anyway, when doubts remain, it is necessary to abstain. Gary Gensler, the boss of the SEC had the merit of having provided elements allowing the detection of a crypto scam. Do not hesitate to browse them to form your own opinions on this kind of crypto project.
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