A lesson in how NOT to run a promotion for your valued investors!
- Run a contest on Twitter with a goal of spreading awareness about your platform.
- After the contest ends, announce the 'randomly selected' winners on your Twitter account
- Couple minutes later, from the same Twitter account, tweet that you were one of the lucky winners!
And that's exactly what Waltonchain did...and the reward, a 30% dip in market cap, costing investors millions of dollars.
Here is how it all played out...
On February 8th, Waltonchain ran a promotional campaign on Twitter. If you commented on their Twitter feed and tagged a friend, you were eligible to win a split of 564 Walton Coins (WTC). Each of the 213 lucky winners were due to receive coins worth about $58 US. Then yesterday on the official 
And this is where it get's good...and by good, I mean really shady. The same person who posted the winners, quickly turned around and sent this Tweet from the same exact corporate Twitter account (
So really what happened, is that Waltonchain manipulated the list of winners and inserted some of their own employee/dummy account winners into it. Whoever posted the 'I won' tweet naturally did not log out of Waltonchain and into their designated twitter account.
There you have it...this had it all....scam, greed, manipulations, lying, and one or more dumb employees.