From Rug Pulls to HEX Panic: Investigating Cryptocurrencies’ Duality
- Richard Heart’s Cryptocurrency Activities Set Fans of the HEX Token on Edge
- What is Rug Pull?
- org Questions about Possible Federal and State Securities Law Violations
- Richard Heart’s Cryptocurrency Activities Set Fans of the HEX Token on Edge
Hex token supporters are uneasy since Richard Heart, the project’s founder, has deleted any references to his cryptocurrency endeavors from his social media platforms. Hex.com, PulseX, and PulseChain are no longer mentioned on his Twitter account.
Furthermore, Heart recently tweeted that he deleted his extravagant displays of wealth Instagram account to show more respect and humility. The ardent proponents of the Hex token, commonly referred to as “Hexicans,” are concerned about this.
Heart restored “Hex.com” again to his Twitter profile after several Hexicans grew frightened and thought he had started a rug pull. He then published a screenshot of the updated page with humorous doodles that read, “I adore Hex!”
Even if Heart didn’t make the decision public, some observers still think that his initial erasure of the references was a sincere effort to disassociate him from the divisive Hex program and the unfulfilled Pulse ambitions.
Given the recent spike in enforcement actions by the U.S. Securities and Exchange Commission against various cryptocurrency projects, the Heart may be sensing the heat and thinking his turn may be coming soon.
In November last year, the SEC served subpoenas to several well-known Pulse/Hex internet promoters (who may have information pertinent to an ongoing inquiry). The Heart has consistently worked tirelessly to promote his businesses, drawing in more investors by displaying his ostensibly unfathomable wealth.
He has openly bragged about having the fastest Ferrari, a giant diamond in the world, and the most expensive Rolexes ever produced, owning $3M in automobiles and $10M in watches. In addition, Heart frequently uploads images of himself wearing flashy, high-end designer clothing, allegedly believing that others will purchase into his identity.
What is Rug Pull?
In cryptocurrency, a “rug pull” is a specific scheme that occurs when the creators of new cryptos or tokens abruptly and purposefully withdraw from the marketplace, carrying all the money deposited in that specific cryptocurrency or token.
Often, this is done by inflating the value of a currency and spreading a false sense of excitement about it to persuade individuals to purchase. The currency’s inventors will then sell off all of their holdings once there are enough investors, which will cause the currency’s value to crash and leave the rest of the investors with useless tokens or coins.
CryptoLawyers.org Questions about Possible Federal and State Securities Law Violations
To find out if several exchanges, including Robinhood, and Coinbase, to mention a few, have violated federal and state securities regulations and failed to give cryptocurrency traders the crucial risk declarations legally required, CryptoLawyers.org is investigating them.
One of the company’s co-founders, Tom Grady, said that their investigation differs from any other litigation or investigation that has been made public in cryptocurrency.
Additionally, he stated, “We argue that Robinhood, Coinbase, and other exchanges have engaged in unlawful actions, and individuals who suffered losses by buying cryptocurrencies through their platforms may be eligible to recover their losses.”
Another famous firm employee is Guy Burns, a seasoned litigator, and Florida’s Legal Elite member. He has worked in the financial and securities litigation fields for more than forty years and has been awarded Attorney of the Year eight times in these fields.
Those impacted can exchange data about their holdings and get a free examination to see if their case qualifies for speedy filing and resolution under the firm’s guidelines.
