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A single tweet costed $90 million to Waltonchain

Mar 03, 2018 Posted /  5066 Views

A single tweet costed $90 million to Waltonchain

Twitter users are accounting fake giveaways where swindlers imitate to be a renowned personality and ask for donations with a promise to return a multiple times of the original amount. But this time Waltonchain was originally conducting a giveaway of 2.14 WTC to 100 random winners. The promotion campaign was launched on the occasion of valentines day.

All the individuals with cryptography knowledge must be aware of ruggedness in generating genuine random numbers. Somehow, in the giveaway campaign, one of the Waltonchain’s employee got lucky and won $50. The incident came into limelight when the fortunate employee twitted regarding the same showing her exhilaration- using the official Waltonchain account.

The tweet was removed in haste but not instant enough to stop the incident from sharing all over twitter. The Twitter trolls played a massive role in dropping down the market capitalization of Waltonchain by $90 million within 24 hours. The instant drop down in the price represents the communities reaction on deception.

Following the response, the Waltonchain came forward with an explanation on “the recent Twitter incident” -

“A Waltonchain team member was among the winners and excitedly tweeted using the wrong profile.”     

The justification sounds partially correct as the excuse behind excitement seems disingenuous. It is hard to believe that an employee already holding a stack of WTC will get so overwhelmed on receiving crypto worth of $50.

Reportedly, no serious harm has been encountered on the goodwill of the company. The  #WaltonchainLove Campaign was initiated to promote the token by following a modest giveaway to 100 random users. Unfortunately, the campaign misfired on accounting one out of 100 winners to be an employee. One of the conspiracy theory has been suggested that entire affair was a publicity stunt by Waltonchain. The hypothesis seems bizarre but strange things can happen anytime.

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