Howdoo say they are a new type of Social Media platform built on the blockchain with their own utility token called the UDOO. However, after an initial ICO in mid 2018, 2 subsequent funding rounds, 3 token swaps blamed on a variety of factors from a Coinbene hacking which resulted in 18+ Million UDOO being burned to smart contracts being compromised, they have yet to produce a working platform, beyond a very basic Beta version. A recent token swap was conducted from 26th Aug to the end of October, during which time all “Old-UDOO” holders were locked out and unable to trade for 2 months and new UDOO were issued to 3 exchanges during this time.
The UDOO was listed on a Chinese exchange MXC on the premise of attracting Chinese investors/traders and during the month of Sept (The Pump) the value of UDOO went from $0.006 up to $0.12. Within days after the token swap was completed, the UDOO had already fallen to near all-time lows and it was announced recently that UDOO would delist from MXC (citing internal review). Howdoo is actively promoting the sale of “Nodes” for UDOO and offering as much as 30% per annum returns, yet Howdoo are still not on any blockchain nor are they in fact running any Nodes.
They have a history of making exaggerated announcements to attract attention with very little validity and embellishing the truth. One such example is that Howdoo will partner with Huawei to provide an OEM app on all future phones, when in fact the reality at the time was that Howdoo was listed on the Huawei app store. There is a constant turnover of new investors who do not conduct their own research and as older investors have left their losses and moved on, and anyone asking about the recent past token swap and exchange listings as well as the blatant pump & dump gets banned and or referred to as fudders in their Telegram chat.
Is Howdoo a Scam?
Disclaimer: Howdoo Cryptocurrency | Howdoo ICO
Howdoo is a cryptocurrency project that issued Howdoo tokens to its community. Scams in the cryptocurrency space take form in many ways, including exit scams or undedicated project developments.
Is Howdoo a Scam ICO?
Data on whether Howdoo 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 Howdoo or in support of Howdoo. The data is only an aggregation of claims cited against Howdoo.
The above claims about Howdoo (ICO), Howdoo’s token, or Howdoo’s team are externally sourced. They may claim that:
– Howdoo did an ICO and then exit scammed
– Howdoo has an undedicated project development after the Howdoo ICO
– Howdoo token got pumped and dumped by the Howdoo team
– Howdoo is a dead project with a worthless Howdoo token
However, external claims about Howdoo project, Howdoo token, Howdoo team, or even Howdoo advisors may not be supported by accusers of Howdoo ecosystem and thus individuals seeking to learn more Howdoo team or about the Howdoo cryptocurrency are recommended to directly contact Howdoo team members or Howdoo token investors.
CoinCurb does not itself decide if a project is a scam and thus does not claim Howdoo is an exit scam or that Howdoo is any other type of scam, nor does CoinCurb insinuate that Howdoo (or Howdoo token) team are scammers or that Howdoo (or Howdoo token) advisors are scammers. CoinCurb allows viewers to reference sources related to Howdoo development, Howdoo token trading, and/or Howdoo team as an uncertain reference when deciding if Howdoo is a scam or Howdoo is not a scam.