Richard Heart’s bombastic X (Twitter) thread today shows a desperate man trying to prop up his failing projects. The controversial founder of HEX cryptocurrency made wild claims about the success of his initiatives HEX, PulseChain, and PulseX. However, the facts reveal a much bleaker reality behind Heart’s hype.
Heart trumpeted HEX being “up 14,853% since Jan 5, 2020,” conveniently ignoring HEX crashing 6% this past week while top altcoins like LINK, XRP, ADA and SOL saw double digit gains. He bragged about PulseChain users getting “free valueless copies” of coins from Ethereum, neglecting to mention PulseChain’s major technical failures since launch.
Source: CoinStats – Start using it today
Heart is accused of conducting illegal unregistered securities offerings and misappropriating $12 million in investor funds according to the SEC. The agency alleges Heart used HEX investors as his personal piggy bank, purchasing a $6 million black diamond and luxury sports cars. He purportedly used shady “recycling transactions” to artificially inflate HEX demand.
Beyond legal troubles, Heart faces growing issues with his projects themselves. Critics have called HEX a Ponzi scheme, citing astronomical promised returns of up to 38% annually. HEX’s poor performance compared to the rest of the market further erodes trust. PulseChain users have complained of crippling technical problems and withdrawal issues that Heart glossed over.
Rather than cementing his legacy as a “crypto messiah,” Heart’s smoke and mirrors appear to be unraveling. With a court date looming later this month, Heart could face serious fines, disgorgement of profits, and even potential jail time for his alleged transgressions.
Heart may act invincible on Twitter, but his legal and technical house of cards could soon come crashing down. Investors should think twice before buying into the hype of this crypto huckster facing federal prosecution and major project stumbles. Heart’s bombastic rhetoric rings increasingly hollow.
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