Helium Axxent investigates a suspicious offer from Helium.Rent using their “sniff-test” criteria in a new article. This blog post provides highlights of the investigation and article. More information and the article itself can be found at https://heliumaxxent.com/heliumrent-offer
Helium Axxent has released a potentially controversial article "Why Helium.Rent New Website Looks Like A Crypto Mining Scam", bringing some cause for concern, as the article may upset Helium.Rent website owners, stakeholders and would-be cryptocurrency investors who see the extraordinary returns offered and accept them at face value..
The 885 word article examines the high points and low points of this potential cryptocurrency mining scam, in the pursuit of providing a reality check on the extraordinary returns offered by Helium.Rent. By identifying greed-driven overconfidence-biased customers though, this article is likely to offend Helium.Rent business owners and crypto investors looking for easy money.
Below is a portion of the piece, which neatly exemplifies the controversial element:
"It’s not obvious how HeliumRent can pay the high returns on investment they offer, given the relatively modest earning potential of most Helium Hotspots. Scam-Detector.com gives this business a low trust score, indicating a relatively high potential that it’s a scam."
As part of the investigation of Helium.Rent, it was also discovered that the website was only created in December 2021, and that website and business ownership information is hidden from the public, except for its origin in Iceland. Helium.Rent's offers are for interest payments for a six month period, with the full investment required upfront. So, there isn't enough payout information to support the legitimacy of the company, and the risk seems to be all on the investor.
Helium.Rent's mining approach is not completely new. iHub Global offers to lease Hotspot Miners for $18 a month, returning 25% of Helium rewards to the lessors (typically amounting to less than $100/mo). Various Helium Staking businesses allow sharing of Helium Validator Rewards, which typically works out to a 5%-8% APR for investor partial stakes. Compare that to Helium.Rent's offer of up to 766% ROI for two consecutive 6 month rentals and it's easy to see why their offer raises a red flag.
Scam-Detector.com gvies Helium.Rent a 27.3/100 trust rating and ScamAdvisor.com gives them a 1/100 trust score.
A spokesperson for Helium Axxent, Rickey Williams, says "Of course Helium Axxent never sets out to intentionally upset anybody. The aim of our articles is first and foremost to encourage potential investors in Helium.Rent and similar projects to do their own research before committing to offers that sound too good to be true. It is critical, however, that we stay dedicated to our true voice.
Although our "Why Helium.Rent New Website Looks Like A Crypto Mining Scam" might unsettle Helium.Rent website owners, stakeholders and would-be cryptocurrency investors who see the extraordinary returns offered, our duty is to our readers. We believe it's more important to let investors know about offers that don't pass our sniff test even if it's going to upset them, than to please everyone. Which is notoriously difficult to do."
Although there has been no backlash as of yet, the possibility exists as the article exposes a potentially fraudulent offer, as well as the gullibility of investors who bought into that offer..
Helium Axxent has stated the future aims for the website are "to bring attention to news about Helium and related cryptoassets, and to provide insights and contexts that other news sites often miss." So Helium Axxent hopes any controversy will pass quickly and re-emphasizes no offence is or was intended.
Helium Axxent's complete article can be found at https://heliumaxxent.com/heliumrent-offer
