Crypto Wallet MetaMask Blacklists dApp 333ETH
On September 17th, BitcoinExchangeGuide had reported that State Of The DApps had accused 333ETH of being a crypto fraud. Well, it seems like they were not the only ones who think so. Today, popular cryptocurrency wallet MetaMask labeled it as an active scam and blacklisted it.
333 ATH is a decentralized application, or DApp, being developed on the growing Ethereum blockchain. The ICO has already been out for quite some time and has won the support of thousands of interested investors all around the world. The project is deemed as an “Ethereum distribution project,” and it claims to be able to offer its investors a rate-of-investment (ROI) of around 3.33% per day.
The decentralized application also checks another major box on the Ponzi scheme checklist. It offers its users life-long payments and profits as a result of their participation in the chain. This is, of course, impossible. Even if the organization lives for many years, it is not likely that it will continue to gain followers and investors indefinitely. As a result, it is not possible for 333 ETH to continue to provide profits to investors for the rest of their lives. Additional red flags include that the process of payment is being executed autonomously, without the participation of any third party.
However, MetaMask begs to differ about the dApp’s number one stature.
Apart from 333ETH, some of the most used Ethereum DApps this year have been products including Fomo3D and PoWH 3D, both of which openly admitted they were not financially sound investment opportunities. Fomo3D, for example, describes itself as an “ironic jab at the cryptocurrency ICO space, putting every player in the terrifying and tempting position to Exit Scam everything and run away with massive life-changing amounts of real Ethereum.”