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MGC: Mysterious Token flooded with Ethereum network

A mysterious Token named MGC clogged the Ethereum network. The "More Gold Coin" also drives the transaction costs are high. The website promises a stable rate

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MGC: Mysterious Token flooded with Ethereum network

A mysterious Token named MGC clogged the Ethereum network. The "More Gold Coin" also drives the transaction costs are high. The website promises a stable rate of return with little risk. But what is behind of the MGC? Observers suspect a Scam.

From Polina Khubbeeva
26. August 2019BTC$10.345,44 1.17%part Facebook Twitter LinkedIn xing mail

A Token named "More Gold Coin" (MGC) floods the Ethereum network, he is sent to thousands of addresses. There are now over 360,000 Holder, the host in the Token. This is evident from the data that the ether determined.

The website indicates that the MGC is a "Multi-Currency Smart Wallet". This supports highly-frequented quantitative Trading on "alternative trading systems" (ATS). Obviously the product of intelligent block movement and lush Trading volumes of promises. So the creators of the Coins to advertise on the website with faster payment, lower costs and easier international exchange mobility in comparison to conventional Wallets.

it is largely unclear how this Token works. However, that MGC already has 8.9 million transactions. Its market capitalization is currently just over $ 24 million. The price is up to the editorial deadline in 0,0404 US Dollar. Was launched in the Token officially on 26. April 2019.

the safety of the MGC offers allegedly made by "multiple dDOS mitigation technologies," and a particularly high level of encryption. The Wallet accepts a variety of crypto currencies BTC via ETH to XRP. This should be able to convert users in the MGC and consistent profits.

the MGC to "magic" to be true?

As the promise of an ultra-powerful High-Tech Token acts with a complicated and vague narrative of the technical Details quickly to be suspicious, to suspect some observers a Scam behind the "Magic Gold Coin". 21. August published the info site ETH Gas Station corresponding to the search results. ETH Gas Station is an Open-Source project, which advocates for transparency around the Ethereum network.

and Then not be able to assume that the experts with the security of a Scam. The product has several characteristics, the the US securities Supervisory authority, the SEC lists under warning signs for Ponzi schemes. Thus, the regulatory authority, users and experts will help in Identifying fraudulent products.

The MGC Token promises its buyers on the one hand, high investment returns with little or no risk. The digital Assets are, allegedly, immune to fluctuations in price on the market. Also, the makers advertise with steady profits and a daily Profit of up to 10 percent.

furthermore, there is no evidence to suggest that MGC is registered with the SEC. Similarly, the experts found no licensing or registration of the British company, engaged in the project. Continue to the mysterious and complex strategies of the Token point to unfair relationships in the Background. If a crypto-company to be product can not explain in a transparent or wants to, this could mean that in reality there is no concept.

finally, it seems to be for the User quite cumbersome to transfer your rate of return on your account. Overall, the MGC has so many "red flags" that should make you wary. Potential buyers should inform themselves extensively about the product before you make investments.


SEC calculated: Scam suspected in the case of crypto-platform ether Delta Bitcoin exchange Bitmarket: owner found dead YouHodler: data leak in crypto-platform – 86 million data affected#Altcoin#ERC-20#Scam
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