Bitcoin News and Finance
HEX Plummets Over 40% After SEC Files Lawsuit Against Creator Richard Heart Skip to main content

HEX Plummets Over 40% After SEC Files Lawsuit Against Creator Richard Heart

HEX Plummets Over 40% After SEC Files Lawsuit Against Creator Richard Heart

After the U.S. Securities and Exchange Commission filed a lawsuit against Richard Heart and his companies Hex, Pulsechain and Pulsex, the crypto asset hex (HEX) has been in a free fall. Two-week statistics show HEX has lost 41.7% against the U.S. dollar and 35.8% over the past seven days.

Uniswap Delists HEX Following SEC Lawsuit; HEX Loses Over 40%

In the past two weeks, HEX has shed more than 40% against the greenback, and on Aug. 2, 2023, the price is down around 2%. The U.S. Securities and Exchange Commission, or SEC, filed a lawsuit against the creator of the Hex blockchain, Richard Schueler, also known as Richard Heart, and his companies Pulsechain and Pulsex.

The SEC complaint accuses Heart of offering and selling unregistered crypto tokens and defrauding investors by misappropriating funds. Two days after the SEC complaint was filed, the largest decentralized exchange, or dex, by trade volume, Uniswap, delisted HEX from the dex interface.

According to metrics, there’s a circulating supply of 173,411,074,413 HEX based on the ERC20 standard; there’s also a total supply of 581,233,513,031 HEX. Approximately 60.89% of the circulating supply is held by the top 10 wallets among the 330,072 unique Ethereum addresses that hold HEX.

The top 100 addresses command 63.15% of the supply. On centralized exchanges that list HEX, the token has seen $5,183,908 in 24-hour global trade volume. This includes exchanges like Mexc, Bitget, Poloniex, Bitrue and Yobit, according to coingecko.com statistics.

PLS, the native asset for Pulsechain, on the other hand, is up 25% over the past day, but during the last seven days, it shed 42.3% against the U.S. dollar. In the past two weeks, PLS shed 46.9%. PLS has recorded around $2.1 million in global trade volume over the past 24 hours.

The Pulsechain block explorer claims the network has 70,752,114 unique addresses. Both HEX and PLS have been added to the alleged SEC securities crypto token market cap, which holds a value of around $84.9 billion on Aug. 2, with coins including BNB, ADA, SOL and many others.

What do you think about the value of HEX and PLS losing value this week following the SEC lawsuit against Heart and his companies? Share your thoughts and opinions about this subject in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory