Helium (HNT) is accused of defrauding investors with fake partnerships

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2022-08-05 02:13:04

Technology media company Mashable has “exploited” the fact that Helium (HNT) intentionally “takes advantage” of author partnerships to attract investors, causing public outrage.

Helium (HNT) fools investors with author partnerships

Helium (HNT) is a decentralized Peer-to-Peer wireless network built on Blockchain platform, for Internet of Things (IoT) devices. HNTs are capable of self-regeneration without the need for satellite navigation hardware or expensive cellular packages.

Helium used to be known as one of the most successful projects in the Web3 space. In 2019, Helium polished its name when it revealed that Lime, a well-known transportation company, was one of its market customers and used a decentralized wireless network service.

Helium has repeatedly mentioned about the partnership with Lime, to show the logo of the partner company, publicly to the press from many different news agencies.

Especially among Helium’s partnerships is the appearance of the cloud software giant Salesforce.

Partnerships introduced on the Helium website in 2021
Partnerships introduced on the Helium website in 2021

Helium once again introduced users to the reliability of the platform in a Twitter post in May 2021. In the post, Helium shared its list of customers, but it is worth mentioning that while the partner companies are all directly tagged with Twitter accounts, Lime is left out.

Helium's May 2021 Twitter post
Helium’s May 2021 Twitter post

Over the weekend, media outlet Mashable “unmasked” the truth when releasing reports proving that Helium has misled the community. In fact, there is not any partnership between Helium and Lime or Salesforce as the company claims.

In fact, in 2019, Lime denied a partnership with Helium. The transport company also claims that they are only testing the platform initially.

Russell Murphy, Lime’s senior director of corporate communications, said:

Aside from initial testing of its product in 2019, Lime has not and currently has no relationship with Helium.

Mr. Murphy further revealed that as part of the test, Helium must not use Lime’s brand name for advertising purposes. However, Helium has committed violations when repeatedly falsely asserting that Lime “trusts” the platform. Lime was aware of these misinformation, but so far the company has ignored it and has not taken any legal action.

Salesforce also issued a similar rebuttal to Lime. Commenting on the company logo being introduced on the Helium website in 2021, Salesforce spokesperson Ashley Eliasoph said:

Helium is not a Salesforce partner and the images on the website showing the Salesforce branding are inaccurate.

So far, after the truth was exposed, Helium has removed the Lime and Salesforce logos from the website, the company has not yet explained this topic to the media.

Helium removed the Lime and Salesforce logos from the website
Helium removed the Lime and Salesforce logos from the website

In the current period, Helium is facing the risk of FUD from the crypto community. On July 26, famous individual investor Liron Shapira posted a series of posts on Twitter, accusing the Helium platform (HNT) of generating only $6,500 in monthly revenue for investors while they already have poured hundreds of millions of dollars into the project. Liron Shapira was furious when describing Helium as a failed project.

There is still no clear answer to whether Helium “used” the names of Lime and Salesforce with the purpose of “blinding” investors to successfully conduct a Series D funding round worth $ 200 million last month. March 2022 or not. It is known that after the successful funding round, Blockchain parent company Helium changed its name to Nova Labs. With the newly published evidence, there is a high possibility that there is a shady connection.

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