Crypto Startup Power Ledger Takes Flak for Rewarding Rogue Bounty Hunters

An Australian blockchain-based peer-to-peer electricity trading startup is on the receiving end of criticism for rewarding bounty hunters who used unscrupulous means to drive interest in its crypto token.

According to the Financial Review, Power Ledger has been criticized for allocating free tokens to bounty hunters who made exaggerated or false claims regarding the startup with a view of increasing the uptake of the Australian crypto firm’s tokens.

Some of the exaggerated or misleading claims included stating that the startup had drawn the interest of the renowned clean energy advocate and billionaire founder of Tesla, Elon Musk, who was keen on revolutionizing the retail electricity sector.

Currently, Power Ledger’s token, POWR, is trading around 20% below the issue price and has a market cap of over US$30 million.

Reference: https://www.ccn.com/australia-crypto-startup-power-ledger-takes-flak-for-rewarding-rogue-bounty-hunters/

Share this: