Electra was a project that generated hype during the alt season of January 2018. Upon community takeover and seeing progress in development, a select few individuals made a power play on the project and took control of the main net which eventually lead to infighting, unfulfilled roadmap deadlines and ironically the departure of lead developers Ivan and Renat. Two key components in this Q2 power play. The most important implementation is the hard fork. Originally scheduled for main net release at the beginning of Q2, the proposed hard fork was to be implemented in an effort contain the disastrous effects of runaway inflation (staking) and cap the supply at 30 Billion coins after investors found out the coin had an unlimited supply. Once again, the roadmap was modified and the date of the fork was pushed back to Q3 only to be missed. A testament to the disastrous effects of runaway inflation is the immense increase in holdings by Electra01’s top wallet (Rich List #1), which rose from 900 Million ECA in December 2017 to over 2 Billion ECA in August and an overall increase in supply from 21 Billion ECA to over 27 Billion ECA. While the project continues to make small business partnerships, the value of these backdoor deals is heavily exaggerated in an effort to retain existing investors. One example is the team’s claim that the Electra and Unifox partnership gave investors liquidity via globally stationed ATMs. This was an exciting time for investors, however, most soon came to the realization that UniFox is only in the initial offering stage and required significant funding in order to turn this into a reality. Unfortunately, businessmen in Electra continue to employ deceptive business tactics and quickly silence concerns regarding the non-existent 30 Billion coin cap while hard fork development remains dead. In conclusion, this project was not established with the express intent of scamming investors, it has simply robbed people of their money through the incompetence of development and deceptive marketing practices.
Is Electra a Scam?
Disclaimer: Electra Cryptocurrency | Electra ICO
Electra is a cryptocurrency project that issued Electra tokens to its community. Scams in the cryptocurrency space take form in many ways, including exit scams or undedicated project developments.
Is Electra a Scam ICO?
Data on whether Electra conducted a scam ICO, a scam mining operation, or a scam masternode project is cited above from external sources and CoinCurb does not take responsibility for claims against Electra or in support of Electra. The data is only an aggregation of claims cited against Electra.
The above claims about Electra (ICO), Electra’s token, or Electra’s team are externally sourced. They may claim that:
– Electra did an ICO and then exit scammed
– Electra has an undedicated project development after the Electra ICO
– Electra token got pumped and dumped by the Electra team
– Electra is a dead project with a worthless Electra token
However, external claims about Electra project, Electra token, Electra team, or even Electra advisors may not be supported by accusers of Electra ecosystem and thus individuals seeking to learn more Electra team or about the Electra cryptocurrency are recommended to directly contact Electra team members or Electra token investors.
CoinCurb does not itself decide if a project is a scam and thus does not claim Electra is an exit scam or that Electra is any other type of scam, nor does CoinCurb insinuate that Electra (or Electra token) team are scammers or that Electra (or Electra token) advisors are scammers. CoinCurb allows viewers to reference sources related to Electra development, Electra token trading, and/or Electra team as an uncertain reference when deciding if Electra is a scam or Electra is not a scam.