Substratum (SUB Token) Faces Scam Accusations Due to Faking GitHub Activity Numbers
The cryptocurrency market is full of scams and projects without a clear path. Their main intention is to profit from investors that do not have a clear regulatory framework. Substratum (SUB) seems to be one of these coins and projects.
One of Substratum’s developers, B.J. Allmon, informed a few months ago that the project had over 2 million lines of codes on the Substratum GitHub repo.
Nevertheless, something that should be great news for the community ended up discovering something not so good behind. The Substratum community did not take all these numbers for granted and started to investigate whether this was real or not. Using a tool that counts lines of code in GitHub repos, the company discovered that they had only 32000 lines of code.
With the Count LOC tool, the community discovered that Substratum’s developer multiplied this number 62.5 times. However, having more lines of code does not mean that something is necessarily good.
The Reddit user CHAiN76, explained that Substratum’s decision to expand the numbers is not a good decision. He quoted Bill Gates that says that measuring programming progress using lines of code is similar to measuring aircraft building progress by weight.
Because of this situation, there are several users that decided to question the project and its viability. Another Reddit user decided to post an explanation about why Substratum has a similar minting contract to Oyster Pearl. It is important to remember that Oyster Pearl had some problems with its smart contract at the end of October. An insider was able to start minting new PRL tokens.
It seems that Substratum is affected by the same issue. A Substratum developer could eventually exploit this issue and damage the whole network. It is also possible for the team behind this virtual currency to perform an exist scam.
Another issue that arose around this project is related to its regular token burn. When a project decides to burn tokens, it means that they send the coins to an address that nobody has the private keys for it, meaning that it is not possible to have full access to it. Despite that, Substratum apparently owns the private keys of this wallet where they send the burned tokens.
At the time of writing, Substratum is the 120th largest virtual currency with a market capitalization of $43 million dollars. Each SUB token can be bought for $0.113 dollars.