EOS, the biggest scam in the cryptocurrency world, is at it again — soaring 33%

Author: Cang Hai Yi Xiao; Source: Bitcoin

According to OKX, eos rose by more than 22%, with the highest price reaching 0.6613 US dollars at one point, and the current price is 0,6532 US dollars. EOS was once the second most popular cryptocurrency in the industry after Bitcoin and Ethereum, and was highly sought after. At that time, Li Xiaolai and others supported it in China, and the founder BM was a big name in the cryptocurrency industry, with a financing scale of 3.3 billion US dollars.

But things did not go as planned, and the development of EOS was not smooth. The foundation withdrew most of the funds and did not use them for technical development. The soul figure BM also chose to leave, and the nodes locked the project's coins through voting. Facing a lawsuit in the United States. The community completely lost confidence, and EOS went downhill without any waves. It can be said that EOS is also a complete scam. They cheated the money, handed over the project to the community, and made a crazy profit of 3.3 billion US dollars. According to the current income, it has reached tens of billions of US dollars.

The project team saw the recovery of the cryptocurrency industry and probably wanted to take advantage of the opportunity to make a profit, so they started to act. EOS is not an exception. Xiao Feng, a big domestic player, also created a cloud map LAT, which disappeared after getting the money and plummeted 1,000 times.

EOS Network announced that the EOS network, known for its scalable blockchain infrastructure, announced that it would be renamed Vaulta, marking its strategic transformation to the Web3 banking field. The transformation includes a token swap plan tentatively scheduled for the end of May 2025.

At the same time, Vaulta will establish a Banking Advisory Council, which is composed of experts in the financial and blockchain industries and aims to bridge the gap between traditional banks and decentralized systems. According to a press release obtained by CoinDesk, the committee members include executives from Systemic Trust, Tetra and ATB Financial.

Alexander Nelson, senior director of digital finance at ATB Financial, said: "Vaulta's strategic adjustment to Web3 Bank is of great significance to the industry. This move not only opens a channel for traditional funds to enter the DeFi field through Bitcoin, but also paves the way for institutions to accept crypto assets on a large scale." Vaulta will retain the technical infrastructure of the original EOS network, including smart contract architecture, decentralized database and cross-chain interoperability. As part of the Web3 Bank plan, the platform will integrate exSat, a digital banking solution focused on Bitcoin.

The rebranding comes at a time when digital asset regulatory frameworks, such as the EU's MiCA crypto asset regulations, are gradually being improved. La Rose believes that regulatory clarity makes now "the best time to align the brand with the Web3 Bank strategy."