HEX origin address emptied out, almost $7 million withdrawn

It took 36 transactions to empty out the address holding all investments in HEX

Around $7 million worth of ETH has been withdrawn from an address associated with the HEX cryptocurrency after weeks of speculation that it was headed towards an exit scam. The funds were transferred on Jan. 6 through 36 separate transactions, with each one withdrawing exactly 1,337 ETH, worth around $192,500.

HEX, one of the most notorious cryptocurrency projects in the industry, seems to be going through a textbook exit dump. What began as rumors and hearsay on Reddit just a couple of weeks ago has now turned into cold hard evidence.

According to data from Ethereum blockchain explorer Etherscan.io, the main address associated with HEX has been almost completely emptied out. There were 36 outgoing transactions from the address on Jan. 6, each one transferring exactly 1,337 ETH from the address. With Ethereum’s price hovering around $144 at press time, that makes each of the 36 outgoing transactions worth over $192,500.

Transaction details about one of the 36 times 1,337 ETH was withdrawn from HEX address

Transaction details about one of the 36 times 1,337 ETH was withdrawn from HEX address
Transaction details about one of the 36 times 1,337 ETH was withdrawn from HEX address. (Source: Etherscan.io)

And now, with almost $7 million worth of ETH gone from the address, it’s beginning to look a lot like the exit scam HEX investors have been warned about weeks ago. None of the transactions went out to the same address, meaning that all of the tokens people have invested in HEX have been scattered around.