Blockchain Waltonchain Accused Of Running A Fake Competition

Waltonchain Accused Of Running a Fake competition

While the prices of cryptocurrencies are not as good as they were perhaps a couple months ago, there are still many of us involved in the blockchain business of mining money.

Waltonchain, while not necessarily a major player, it still a significant company. They even have their own cryptocurrency called WTC (Walton Coins).

As part of this, they recently ran a competition offering winners the change to win a share of a pot of 564.96 Walton Coins. All users had to do was re-tweet the post and they stood to win $22-$50 of the coin. Sounds ok so far right?

Congratulations to all the $WTC winners who participated in our #ValentinesDay campaign! Please find the winners' list below and contact us before March 7th to receive $WTC. #Waltonchain

*Please guard against scams accounts asking for tokens.https://t.co/CLbMtDhZwI

— Waltonchain (@Waltonchain) February 28, 2018

What went wrong?

Well, in a report via Mashable, shortly after announcing the winners, Waltonchain posted a bizarre Twitter post. In the post, they posted that they themselves was one of the winners!

Yes, on their own Twitter account, they posted the following Tweet which was subsequently deleted, but not before some eagle-eyed people spotted the issue.

Rigged contest lol pic.twitter.com/noA1nLHsL2

— Arqrez (@arqrez) February 28, 2018

Users noted that a post, which was likely meant to be sent from a fake account, was accidentally posted to their legitimate Twitter feed.

This has led many to accuse Waltonchain of having faked the entire competition merely as a PR stunt. In fairness, the evidence is there to suggest they did exactly that.

Since the competition

A cryptocurrency is built on the support of the coin. Following what many felt was a fake competition, users reportedly began selling all of their WTC which has apparently seen the price drop significantly in the last few days. The drop is thought to have been in the region of 30% wiping around $150m from the value.

While it isn’t perhaps the most expensive Tweet ever made, I daresay some heads will roll for this. In addition, they clearly have some explaining to do.

What do you think? Ever hear of Waltonchain? Did you own any WTC? In addition, did you sell it? – Let us know in the comments!

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