Clown Hunt in Crypto
Justin is a crypto influencer who is not liked by the majority of crypto people. He is known for his hostile takeover of the former chain of Hive. Also, his project is seen as a copycat of Ethereum as the dApps and services are copied from Ethereum.
Though his strategies were based on creating his own stablecoin, smart-contract chain, DeFi services, and, hostilely Social Network, none of them achieved their limits regardless of his manipulations. Seeing the collapsing realm of the token and the efforts that are in vain, he adopted another strategy: Be an Angel (!)
He became an ambassador of a country and he offered to save LUNA, Binance (😂), USDC, Credit Suisse, and several others. In the end, he just played the clown.
Pretending as Clown & Parasite
The ecosystem forgot about Do Kwon easily as he was a typical guy that created a system that is away from being sustainable. Justin, on the other hand, knows every single trick in crypto and manipulates it accordingly.
He takes parasites as the role model because trying to be the main guy is too tiring and risky while the parasite systems of his main project bring millions of dollars already.
Once the working parasite system is combined with the regulation-friendly angel role, he started to be on the stage again. However, this time, it is not a great idea for him as there has been growing anger due to his irritating attitude.
Eventually PayDay
Fraud and market manipulation by Justin are almost obvious. Since he has been an active figure for 5 years, I believe there are tens of reports being tracked by the SEC and other regulators. The market focuses on profit rather than morality. Yet, the excessive manipulation by Justin has a consequence for that.
Regulators see its project as unregistered securities like, potentially, many other altcoins. He is in charge of excessive wash trading to make people think that his project is worthy (!)
Somewhere between 4.5 million and 7.4 million TRX was traded daily through these wash trades, the agency said. - Coindesk
That's a huge amount of wash trade for his half-dead project. I really wonder the real number of investors and community members. Obviously, he is not good at trying to be a part of a community in a moral way. Crypto does not let some guys to manipulate that much.
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It is very important that we are all careful of who to follow and project to invest on too.
I will definitely try and read more about him too, thanks for sharing this
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Absolutely. There are still many influencers that may hurt the projects
Ignorance is a big problem, I was made to know that it's not a must to know everything, but knowing something about everything will definitely help and it will safe one from falling into the wrong hands too.
Making so much research about a project might not be all that is needed,but it will definitely help to an extent and safe us from fake one's too.
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