Waltonchain (WTC) in Hot Water After Employee Wins Official Contest
Waltonchain (WTC) — a logistics play focused on creating a “business ecosystem integrating blockchain with IoT” — is now mired in drama after one of its employees partly won Waltonchain’s own sponsored contest. The team has apologized for the incident, calling it an oversight and promising to rectify the situation.
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Community Cries Foul
The cryptoverse is, in many ways, still a sketchy place. Cries of gimmicks, corruption, and other nefarious deeds abound in the space’s prematurity. The Waltonchain project seemingly reinforced that dynamic after one of its employees accidentally outed itself as a winner of an official WTC giveaway contest.
The drama began after the official Waltonchain Twitter account posted this tweet:
As you can see, a WTC employee apparently forgot to sign out before declaring their glee over winning a slice of their project’s most recent giveaway.
Two nuanced possibilities started bugging the community. The first and more dominant question that arose was whether the contest was bogus all along, and the outed employee accidentally exposed that fact. Or, secondly, was the employee unethically participating in the contest unbeknownst to anyone?
And that’s when the situation apparently intensified.
As Fallout Builds, a Crackdown Alleged
From a PR angle, the botched campaign was clearly a nightmare for Waltonchain, as the project’s market capitalization quickly lost tens of millions of dollars. Faith was shaken as investors acutely fled for stabler ground.
As such, allegations quickly spread that the WTC team was clamping down on the fallout by deleting en masse Reddit and Telegram comments that pointed out what had happened:
A severe knee-jerk reaction, if true. And obviously inferior to just issuing an explanation and apology right away.
Waltonchain Responds, Apologizes
Several hours after the drama started, the WTC team issued an explanation and apology to the community.
In their tweeted statement, they said:
A decent apology. But one that should’ve come sooner.
Twitter Is Getting Out of Hand
Cryptocurrency scammers preying on popular crypto tweet threads has become a fever pitch problem on Twitter.
That ugly reality has just come to the forefront once more, as a scammer asking users to send over ether in the thread of the aforementioned Waltonchain apology tweet has now nefariously raised over 22 ETH at press time.
The account responsible? @Weltonchain, which shifts the original project’s “a” to an “e” to fool victims. The con looked like this:
It’s a scam archetype that needs to be decisively mitigated by Twitter in the weeks ahead.
What’s your take? Did WTC really drop the ball on this one? Sound off in the comments below.
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