Is MasksChain a Scam Project?

Key Takeaways:

  • MasksChain project has seen a sudden price drop of more than 94% of its native token, i.e., MASKS.
Is Maskschain A Scam Project?

MaskChain has described itself as a decentralized value social network ecosystem initiated by the BLUE OCEAN FOUNDATION LDT. (SG) foundation and led by well-known Internet technology companies such as NextEra, Bunge, POET LLC, Xcel Energy, LINE, etc. Here is link to know more.

We have tried to investigate more about this project. So as of now, this project has no official website. Only GitBook is available with a Twitter Account. Also, there is a global Telegram Account, but there is no admin support. They have also listed contact us email id, i.e., [email protected]. Also, many people in their Telegram group are confused about why its native token has lost its value. Below is a screenshot of the chats of the Telegram Group.

Is Maskschain A Scam Project?

According to our investigation, the main reason behind this sudden price drop is due to some upgrade of masks finance. On April 10, 2022, the team has tweetedDear mask holders, each wallet address holds 1000 masks, which can be exchanged for 500U of permanent computing power in the new ecosystem! Players who do not participate, please turn to U as soon as possible, and at 0:00 on April 12, all MASKs will be destroyed in the black hole!

Although this project is relatively new, we will still recommend that our readers stay alert and invest only in audited projects and perform good background research.

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Yash Kamal Chaturvedi

Btech Computer Science, Maharshi Dayanand University, Rohtak (2023)