HEX origin address emptied out, almost $7 million withdrawn

Published on by Cryptoslate | Published on

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Around $7 million worth of ETH has been withdrawn from an address associated with the HEX cryptocurrency after weeks of speculation that it was headed towards an exit scam.

It took 36 transactions to empty out the address holding all investments in HEX. HEX, one of the most notorious cryptocurrency projects in the industry, seems to be going through a textbook exit dump.

According to data from Ethereum blockchain explorer Etherscan.io, the main address associated with HEX has been almost completely emptied out.

There were 36 outgoing transactions from the address on Jan. 6, each one transferring exactly 1,337 ETH from the address.

Transaction details about one of the 36 times 1,337 ETH was withdrawn from HEX address.

Now, with almost $7 million worth of ETH gone from the address, it's beginning to look a lot like the exit scam HEX investors have been warned about weeks ago.

None of the transactions went out to the same address, meaning that all of the tokens people have invested in HEX have been scattered around.

Launched on Ethereum via a Bitcoin UTXO snapshot on Dec. 2, HEX claimed it can "Do over 10,000x returns in under 2.5 years."

Investments in HEX looked more like donations to his personal address than a token sale, as all of them were held in a single Ethereum address Heart claimed was impossible to access.

With the address holding all the tokens invested in HEX now almost completely empty and the HEX team remaining silent on the issue, it may be safe to assume the notorious project is in its final throes.

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