Crypto world is an amazing world where market always goes upward and downward. Sometimes a particular cryptocurrency arrives and rules the market for quite some time. A fork of NXT cryptocurrency identified as Apollo (APL) is now in the news and it has been called out by one Reddit user as a scam. According to the user, the APL founder is only utilizing the cryptocurrency for a pump and dump. He also said that the cryptocurrency is nothing but NXT with another name.
What is Apollo?
Apollo is a token that was formulated in the year 2017. It contains smart contracts, sharding, privacy characteristics, etc. According to its website, APL is all-in-one cryptocurrency concentrated on combining every beneficial feature utilized in top tier currencies.
A Massive Scam?
According to the Reddit user known as RozzyPoffle, the APL community will tell people all about Apollo’s amazing features such as smart contracts, sharding but it has definitely none of those things right now and it is all commitments from a dev team that has not established one portion of a competency yet. Their website is even created on Wix.
The Reddit user further elaborated that Apollo is an NXT fork that reduced the block time slipping to 2 seconds. They have numerous other irrelevant modifications to the code and will praise them as the prominent lines of code ever formulated. The community is also employing influential technical-sounding words to deceive their greatly faithful people. It is a previously existing characteristic of NXT with a distinct name developing a few lines in the code.
The user went on to say that APL has been pumping parabolically lately and the APL organization is feeding this pump as strongly as possible. They are vigorously telling people word-for-word to pack their suitcases now because APL is going to be $1/APL soon (above Ethereum and Ripple in market cap). He Said
If you say anything about “if you made money on APL you should consider taking profits” or “the price has to correct after increasing like this” you will be IMMEDIATELY BANNED from their community, no questions asked.
RozzyPoffle also stated that the founder of APL Steve McCullah has no university degree or any other skill that makes him proficient of commencing a project like APL. As a result, he has changed his Linkedin profile/experience many times to display that he has some coding/technical experience.
Another Redditor u/MerleRempel has questioned Steve McCullah’s past
I’ve discovered that the CEO of Apollo Stephen McCullah has been involved in several scams in the past including a $29,000 Kickstarter scam where he claimed he was raising funds for a documentary expedition to Congo in the search of living dinosaurs. He later disappeared with everyone’s money and never completed the expedition. This can be verified by looking at the comments on the Kickstarter.
RozzyPoffle also said that the APL Telegram group is the most brainwashed group of people and if you say anything about the tech of APL (even asking a question about it), mentioning NXT, saying the word “fork”, “dump”, “sell” – the list goes on – will get you immediately banned.
In extension, RozzyPoffle also mentioned some addresses to prove how much APL founders are unloading on the market as the price increases due to the “fear of missing out” built by those behind the process.
Here are some APL Founder-held addresses if you’d like to watch them get rich in real-time: APL-4BUY-KK5W-B3KC-DMHBM and APL-NZKH-MZRE-2CTT-98NPZ.
RozzyPoffle also made a list of remarks that got people banned so far:
- The price is up 700% in a week. I think I might take some profit in case it drops”
- -“Isn’t the privacy of this coin exactly the same as NXT? Can someone explain how it is any better?”
- -“Why do you keep banning people for asking legitimate questions?” (followed up with the response from an admin “These ‘questions’ are just FUD on NXT’s tech…these people just want to see the project fail”.
- – “How do you plan to implement sharding in Q1 when there is no code in the Github for it yet?”
- – “You guys think the privacy of this coin is really better than Monero?”
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.
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