The HEX token has collapsed massively in the cryptocurrency market, falling by nearly 60% today. At the time of writing, HEX was trading around $0.0049, marking its single poorest performance in 2024 so far.
The abrupt and enormous sell-off was reported by Whalefud Capital, a famous cryptocurrency analytical site with over 410k followers on X. Whalefud Capital’s tweet states:
“BREAKING: Founder Richard Heart is supposedly selling $HEX, which has taken a 54% hit today, on a coin already down 99% from its peak. The SEC charged Richard Heart, née Richard Schueler, with civil fraud at the end of July.”
The HEX community has been shocked by the revelation that founder Richard Heart is selling his HEX holdings, a project that has experienced a 99% decline from it’s all-time high. The SEC’s civil fraud charges against Heart have further heightened the uncertainty surrounding the project’s future. If Heart’s claims are true, it could be seen as a loss of confidence in the project, potentially triggering a cascade of selling pressure. However, these allegations have not been officially confirmed, and the crypto community should exercise caution. The HEX saga serves as a reminder of the volatility and risks associated with the cryptocurrency market, especially when projects are led by controversial figures.
Release: The purpose of this content is only to provide knowledge. Readers have to do their own research before making investment decisions.
