Bittrex: A Scam IEO?

Investors lose faith in Bittrex again

On  17th April, Bittrex exchange announces via Medium about the OCEAN IEO. The IEO sales have started at 16:00 (GMT) 30th April 2019.

What is “OCEAN” ?

OCEAN is a decentralized data exchange protocol to unlock data for AI. Ocean Protocol is kickstarting a data economy by breaking down data silos and equalizing access to data for all.

Ocean Protocol Foundation Ltd:

Ocean Protocol is supported by a Singapore based non-profit foundation, whose mandate is to ensure open access to the protocol and platform, provide data governance, encourage the network ecosystem growth and take measures to ensure that the platform becomes ever more decentralized with time.

Token sale information:

 

 

What is the problem with the project?

Well, one of the IEOs common things in the price spike after the exchange listining. But with OCEAN on Bittrex, it was a “reverse spike” where is the price is -70% down from IEO price. And that’s what pushes the IEO participants to ask the exchange to refund their investments. Also, they have attached the tweets by (scam, scam project, close Bittrex…).

And here we will show a few of the investors tweets :

 OCEAN response :

We have search in many social media platform to find an official announcement from the OCEAN’s side according to the current mess. And we have found this post in their official Telegram group :

Dear Community, Please know that we are here and we hear your strong reactions. We understand the current situation and the resulting frustration. We want to give you all a platform to voice your opinions, but we ask you to please keep it civil. We are not, nor have we ever been here for false, abusive, and inflammatory statements and accusations. Please give us constructive feedback, tell us what you think we should do to make it better, and help us build the project as we all dream it can be.

~Ocean Team

Well, from this article, you can learn that the investments nowadays is risky, always remember the (DYOR) rule, Do Your Own Research, and wherever the IEO was, never invest in high portions.

 

Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view.

 

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