The lesson of the Dexx crash in November last year, which caused more than 1,000 people to lose more than 21 million US dollars, is still fresh in our memory. Today, posts in the community about the possible runaway intention of the BullX team of another leading trading platform are spreading rapidly again. Is all this a crash or another business war-style FUD?
Remember BullX?
BullX is a Dex trading platform that supports multiple chains including Sol, Blast, Base, BSC, TRON, ARB, etc. Since BullX officially launched its own product in May last year, it has quickly occupied the market with its easy-to-use trading UI, 30% ultra-high transaction rebate and expected airdrops. It has long been ranked among the top three desktop trading robots. So far, it has attracted nearly 1.4 million user registrations and obtained US$185 million in transaction fee income.
In February this year, it even surpassed the old trading robot Photon to become the market leader. It was not until Axiom, invested by YC, began to emerge as a dark horse that the market formed a three-legged trend.
Causes of FUD
On-chain Degen @Nuotrix posted a tweet on social media X with the title The possibility of the BullX team withdrawing appears to be 80%. It is very eye-catching and has been read 300,000 times, sparking heated discussions in the community.
He presented his own 4 pieces of evidence to support his point, the CEO deleted his Telegram account, the customer service team disappeared, the high-earning referral links were deleted, and the invitation rewards could not be claimed because the team did not replenish the coffers.
CEO deletes Telegram account amid suspicion
Unfortunately, the evidence is mostly records of conversations with others, but no actual evidence. This also caused doubts in the comments section. Yelos explanation for the CEOs deletion of the Telegram account was that his account was flagged. In Telegram, if an account is reported a large number of times in a short period of time, the official will ban the account and show that the account has been deleted.
Customer service team disappears
Regarding the customer service team, someone in the community said that the customer service team in the Discord channel is online 24 hours a day. However, in the screenshot taken by @Nuotrix , the customer service team has not responded since March. In order to verify, someone used the same channel to make inquiries and received a response quickly.
Referral rewards cannot be claimed
After the community tried to claim their own rewards, they found that the reward function was perfect. Nuotrix said that he was referring to people who earned $10,000 a day from BullX. The referral link was deleted to stop payment, and those who currently earn $2,000-3,000 a day receive less than shown, and attached the arguments discussed by some people in Discord.
The back wave pushes the front wave
Although Nuotrixs evidence is not clear, BullX has not posted any tweets on social media since it published an article on February 10th to boycott third-party chrome extension integration. Two months without tweets and the widespread FUD sentiment this time are worrying. In any case, ensuring the safety of funds is the top priority. Therefore, the number of BullX users has dropped from 25,000 the day before to more than 300, and the transaction fee income has also dropped from US$250,000 yesterday to US$8,000.
As trading robots become one of the most needed applications in this cycle, more and more similar products are appearing on the market, and latecomers will swept away the former in various ways. After experiencing the bonus period, the former is likely to fail to keep up with the times due to fatigue. For example, the most common FUD event in this incident is the invitation code of Axiom, a super star in the trading robot industry.
Regardless of whether the rumors of BullXs runaway are true or false, user trust and platform transparency are particularly important in todays increasingly fierce competition in the field of trading robots. For retail investors, while pursuing high returns, they should remain vigilant to diversify risks and protect their assets. BlockBeats will continue to track this matter.
