Why has the Dentacoin price dropped?

Published by Dentacoin Team on

“Dentacoin is among the very few blockchain companies that have real products and thousands of users globally. Why is the market not reflecting that?”

“The project has strong partnerships and companies backing it with no strong competitors, why is the price going down?”

 

Dear Community,

 

Since the introduction of Dentacoin, we have always been open to you. As we noticed that some of you might have missed important events, we decided to make an official statement explaining the price decrease that has occurred throughout the past four months.

 

THE REASON:

On January 15th, 2019 Cryptopia exchange was hacked. Multiple assets were stolen, including around $2.5 million worth of Dentacoin (DCN). This caused a significant artificial price decrease solely caused by the hacker/s market activities that are, unfortunately, still going on.

 

Since then, we have been doing our best to bring Dentacoin back to its real position. We alarmed our exchange partners timely and thoroughly so they can check and block the hacker/s’ account/s. We are sincerely disappointed to say that only one reacted properly.

We would like to use the opportunity and thank CoinExchange for their professionalism and swift reaction!  

 

The rest of the exchange platforms promised to check the accounts and despite our consistency, the numerous follow-ups and the very easy to validate information (public records, abnormal trading volumes, and all), no action was ever taken. We have not given up informing the exchanges about suspicious trading activity and deposit transactions.

 

Many of you are keeping us up to date with any news they find and we are truly grateful for that! As we owe transparency to the others, we should mention that the last movements detected by our community were towards HitBTC on April 25, 2019 and we informed our point of contact there about 17 suspicious transactions with exactly the same timestamp, all coming from addresses that can be traced back to the the Cryptopia hacker/s’ original wallet address (publicly disclosed).

 

HOW TO COUNTERACT:

To help us draw more attention to this case and hopefully counteract the hacker’s actions, you can send a message to HitBTC through their Support System (Choose issue: Report possible online scam) demanding that the user/s with the deposit addresses below is/are blocked. Sample message + a list of the most recent 17 transactions. We can imagine how busy HitBTC support agents are but we hope this will help us/them accelerate the process. 

 

**UPDATE from HitBTC (15.05.2019)**

“All Txs that you reported have been checked by our security team. They took appropriate actions where required. We can not share any other details on this subject.”

 

We are more devoted than ever to build a solid user base and deliver products of value and are doing our best the daily team efforts and objective results to not be overshadowed by the currently artificial market situation.

 

We sincerely hope that, sooner or later, the virtues professionalism and collaboration will be more valuable than short-term earnings and (manipulated) trading volumes.

 

Yours,
Dentacoin Team

 

_____

P.S. You want to continue helping us? Please let us know if you notice any abnormal trading activity that can be traced back to the hacker/s’ original wallet address (check it out here) at admin@dentacoin.com or in our official Telegram group.


Also published on Medium.

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2 Comments

John Paul de Montfort · 14th May 2019 at 3:30 pm

Thank you for all you do! Honesty and transparency goes a long way. You are not the exchanges but are bound by them to some degree. I hope they get their issues updated and corrected. Keep on Keeping on!

    Dentacoin Admin · 15th May 2019 at 7:45 am

    Thank you very much John! We hope so toо and will keep you updated! 🙂

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