Controversial Chinese Cryptocurrency Project Overtakes Binance: Raised Millions From This Altcoin

A China-based cryptocurrency project has collected 24.35 million tokens on Polygon in a few days, surpassing the MATIC assets held by the world’s largest crypto exchange Binance.

By Chinese crypto correspondent Colin Wu (Wublockchain) to share According to the China-based cryptocurrency project, in a few days 28 million dollars worth 24.35 million MATIC collected. The project is a part of Binance’s purchases in these purchases. MATIC in his possession exceeded the amount. Thus, the project surpassed Binance’s Hot Wallet 2 to become the 5th largest MATIC holder.

Called Avatar, which Colin Wu describes as reminiscent of a ponzi scheme, this project has recently made so many purchases that in a 7-day period from 120 thousand dollars excessive processing fee.

It was stated that Avatar, which is described as a decentralized GameFi platform and whose reliability is suspected, offers high-yield staking services to investors. According to the data received, investors 24 hours or 181 days daily by staking their assets between 1% to 2% can win awards.

Experts say that this project has collapsed, just as the platforms that offer high-yield staking services based on the companies that have failed before in the crypto money market. high probability of sinking he sees.


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