Waltonchain, your crypto lottery and the tweet that cost them $ 90 million

The digital marketing guides are full of warning stories about the social network errors that have caused the suicide of a brand.

All it takes is an insensitive tweet from a marketing intern to let a corporation crawl and its stock stagnate. It turns out that the world of cryptocurrencies is not so different. After sending, and quickly eliminating, an erroneous tweet, Waltonchain saw its market capitalization fall by US $ 90 million.

The cryptocurrency draw that was an "internal job"
Unlike the fake gifts offered by similar Twitter accounts every day, Waltonchain itself was giving out cryptocurrencies, really, 2.14 WTC to 100 random winners as part of a Valentine's Day campaign.

As anyone who has studied cryptography will know, genuine randomness is hard to achieve, and ... somehow, it seems that one of Waltonchain's lucky winners turned out to be an employee of ... yes, Waltonchain.

The incident would have gone unnoticed if the lucky winner had not tweeted his surprise, also using the very official Waltonchain account.

The tweet was removed hastily, but not before having been followed and shared by all Twitter.

While the merchants and trolls of Twitter had a field day, the WTC began to collapse, getting rid of $ 90 million in the next 24 hours. Although it did not directly hurt the company, the fall was a clear indicator of how the community felt about the deception.

Embarrassed, Waltonchain was forced to issue an official response to the "recent Twitter incident," explaining how "A member of the Waltonchain team was among the winners and tweeted excitedly using the wrong profile."

The core of this explanation is probably true, but the excuse is false; No employee of Waltonchain, who already has a WTC stack, would be overwhelmed by the excitement of receiving $ 50 of crypto.

Waltonchain and his self-esteem
It is unlikely that there has been any lasting damage to the valuation of WTC or the reputation of the company due to the #WaltonchainLove campaign failed. After all, it was just a modest gift in which one out of every 100 winners seems to have been an internal employee. In fact, a conspiracy theorist has postulated that the whole affair was a Waltonchain publicity stunt.

That seems extravagant, but stranger things have happened. Regardless of where the truth lies, the incident reaffirms something that cryptocurrency users have known for years: never trust, verify.

Source: news.bitcoin.com