John McAfee, the famous cybersecurity veteran turned cryptocurrency enthusiast, has reportedly launched an “attack” against HitBTC on Twitter recently. McAfee tagged the firm as a corrupt exchange and warned the crypto community to avoid dealings with them. He further alluded that the exchange platform is more concerned about its benefits in cryptocurrency even to the detriment of the virtual currency communities.
This is not the first time John McAfee would be publicly attacking the said crypto firm, as has already attacked them previously in the last two months. He stated that the exchange had grown so much as to defeat the purpose of decentralization. He explained that the firm is advancing into a monopolistic status which is the main reason why digital currency was created in the first place.
Aggravating Factors behind the Attack
Based on reports, it can be inferred that the accused crypto exchange charges a fixed fee of about 0.0006 which is roughly $4 on deposits to the platform regardless of what was funded. As if this was not enough, the exchange also had several other fees levied on users for using its exchange platform. This is simply the reason behind John McAfee’s anger as he explains that HitBTC had;
“Increased suffering for millions of poor people who cannot afford the minimum buy-in since it is greater than their monthly income.”
Apart from this, it was the exchanges’ customary practice to take possession of customers’ Cryptocurrency assets for no tangible reason, which usually takes a couple of days to a few months before resolving such anomalies. John McAfee has come up with a much more creative and effective technique to tackle these fraudulent practices instead of engaging in battles with the rest of the crypto community. He stated this in a tweet where he initiated a campaign against criminal engagements in the crypto ecosystem saying that;
“Do you really want to end criminal activities within the crypto universe? Then you have to take action. And what better time than now? ReportCorruptCrypto@gmail.com.”
The Huge Sacrifice for the Crypto Ecosystem
In order not join in the high-handedness of the giant crypto exchanges, John McAfee’s subsequent tweets highlighted this when he pleaded with the community to support Apollo Cryptocurrency (exchange) as they have decided not to list their token on the HitBTC platform. Based on the Apollo’s development team, they have refused the offer owing to the countless allegation on the HitBTC which are fraud related.
The sacrifice the Apollo team is making must not go unnoticed as it is no doubt that they have sacrificed benefitting immensely from the allegedly fraudulent institution to further foster people’s confidence in the virtual currencies by getting rid of the “plague.”