Binance, the world’s largest cryptocurrency exchange, announced the partial delisting of the Helium (HNT) token due to allegations of misconduct by the Helium management team. Forbes magazine published an article detailing how insiders, including employees, friends, and family, mined a significant portion of the tokens, leaving only 30% for the Helium community. The tokens mined by insiders were valued at $250 million at their peak. Additionally, it is alleged that Helium blacklisted many genuine miners and applied anti-spoofing measures to cover up their actions.
Helium (HNT) is a blockchain-powered decentralized network for IoT devices, where users earn rewards in HNT tokens for running nodes. The network was set to migrate to Solana for increased ecosystem support. The video warns viewers to stay away from the coin due to the ongoing controversy and advises keeping an eye on further developments. Subscribe to the channel for updates on this project and visit their blog, Web3ABCD.
