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Apollo Currency [APL] Under Controversial Spotlight Again As The Coin Reports 418% Weekly Growth

Extraordinary spikes and falls in prices of cryptocurrencies is not a surprising thing, but when a coin that has had a controversial and questionable past definitely grabs attention. Same seems to have happened with Apollo Cryptocurrency (APL), which was in controversy last year of being legit or not, rose over 400 % this week bringing back questions of its legitimacy.

Apollo Currency – A Strong Altcoin or A Crazy Shitcoin?

Apollo, since its establishment in 2017 claimed to be a ground-breaking project that would play an important role in shaping the future of decentralized cryptocurrencies with respect to the privacy feature. Termed as “all in one cryptocurrency” by its founding team, the coin expected to combine many features of various altcoins making a single powerful currency.

While the team behind Apollo, considers John McAfee as its role model and have listed him as the chairman, McAfee also seems to have a liking for the coin and has mentioned about them in a couple of his tweets

This friendliness between McAfee and the Apollo team has also got Apollo added to the MAfee-backed Bitfi hardware wallet.

While the project seems to be a great one with the main feature like Olympus protocol, that integrates the functions of the platform and has IP masking features that can help the user to hide its IP and get more secure and have more privacy on the internet, there have been various claims against the project and the team across social media terming it’s as a farce and Shitcoin.

The Founder: Steve McCullah

A medium channel by name of Crypto Gear published the article collecting very fine points about the project and the flaws it has. The research conducted in the article made author conclude

“The foundation is doing everything to hide/blind your eyes, they deleted aliases hoping that we will not figure out, this group of ppl is ready to whatever it takes to continue scamming you. Why would we as investor trust words of people that are ready to manipulate the data to lie to us? They seem to forget that the main reason why the blockchain was created is that it is immutable, You can’t change the past if you use the blockchain. And as we don’t trust them, we have copies of the blockchain, so don’t try again APL”

A Redditor by the name of u/RozzyPoffle put forward his analysis as to why he felt that Apollo was a scam. He has pointed out Steve McCullah, the founder of the project seems to have a dubious past according to the post

“Steve McCullah also has no degree and continuously lies/changes his Linkedin profile/experience to exaggerate his experience and make it look like he has some sort of coding/tech knowledge or has done anything other than run scams in the past. Here is a quick video on that that Apollo doesn’t want you to see:

Another Redditor u/MerleRempel has also pointed at Steve McCullah’s past and called him a Scam Artist. To quote

“I’ve discovered that the CEO of Apollo Stephen McCullah has been involved in several scams in the past including a $29,000 Kickstarter scam where he claimed he was raising funds for a documentary expedition to Congo in the search of living dinosaurs. He later disappeared with everyone’s money and never completed the expedition. This can be verified by looking at the comments on the Kickstarter.”

While there is so much of muck around the Apollo on the internet, it’s really difficult to say that the project is really a great one even though its documentation and ideology says it.  If researchers and community are to be believed this rise in Apollo Currency is just a pump and dump strategy played out to fool the investors.

Is Apollo really a strong coin or is it just a scam? Do let us know your views on the same.

The post Apollo Currency [APL] Under Controversial Spotlight Again As The Coin Reports 418% Weekly Growth appeared first on Coingape.