Huge amount of Ethereum (ETH) moved from HEX deposit address, bad news incoming?

Richard Hart’s project, HEX, has divided the industry once again. The majority of the people are calling it a pyramid scheme, while some of the people are calling it a legit project with a good team. Whether or not HEX is scam needs to be proved.

In a series of twists, a large amount of Ethereum has moved from the Ethereum deposit address, which was used to collect funds by the HEX project. Since this address holds the investor’s money, an address like this should not see such a movement of funds.

24 hours ago, several transactions from the Hex.win Ethereum wallet moved to multiple addresses. Each transaction was of 1,337 Ethereum valued at $190,000 (1 Eth = $142). All the addresses that received 1,337 ETH are new addresses, which many believe were created just to receive funds.

Till now nothing has happened. HEX isn’t proved as a scam yet, and the funds are sitting in the new addresses. The website is still online. If an exit scam happens, the website is the first resource that is pulled down.

Price Affect

If an exit scam is pulled by HEX, then the price of Ethereum might see a small dip. HEX raised a total of $6.5 million (49,028 ETH) from various investors. Although HEX might not cash all the transactions in one go, it can still affect the price movement of Ethereum.

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