Twitter is buzzing with another possible crypto exit scam: this time it is a self proclaimed “offshore bank in your pocket” – Haven Protocol – XHV.
Their official site describes Haven as “a digital wallet that can be seen as a free private multicurrency offshore bank account. Haven allows you to store & transact money securely, anonymously & untraceably while it retains it’s value in the currency (e.g. US Dollar) you want. Haven is decentralized which means it requires no trusted third parties and no central bank to store & transact money.”
Haven is a fork of privacy coin Monero that boasts itself as untraceable. It allegedly offered fiat value storage by a system of minting and burning coins via smart contracts. Users were purported to be able to send their funds to offshore storage contracts while retaining a portion of the blockchain’s funds live to remain responsive to the market.
What Haven actually is: another shitcoin with anonymous founders who got rich by scamming unsophisticated crypto buyers, newbies who dream about lambos and early retirement.
The coin has a rapidly slumping market cap of USD 2.2 million and the price has dropped by more than 24% in the past 24 hours.
The source of the exit scam news is their own community manager that communicated this to the holders over their Discord channel:
Bittrex exchange that was the main place for trading the XHV coin is already alerted of the situation and announced a possible delisting upon their investigation of the matter: