• Market Cap
    $402.172B 1.15%
  • POW Market Cap
    $309.671B 0.32%
  • POS Market Cap
    $20.113B 0.81%
  • Masternodes Market Cap
    $1.245B -0.82%

Bulwark team stepping down

By Rafał - 2019-01-29

Bulwark team decided to leave their project. The main reason for this decision are insufficient funds. 

 

According to their announcement they wanted to do it quietly. They set up a plan to find a replacement dev team and hand all assets over to them. Unfortunately for them there was a leak and BWK coin dropped 80% in a second, probably one of the advisors/team members dumped his coins. 

@BulwarkCoin is closing down. A huge blow to the MN market. The team decided yesterday they were done. From the core team themselves. #bulwark #crypto #masternode #cryptocurrency #masternodes #bwk #shuttingdown pic.twitter.com/j2QrTfnEWs

— PeasantForHire (@PeasantForHire) January 29, 2019

In light of the recent events we need to clear some things up. The Bulwark Team decided collectively that we are going to move on from the project about 12 hours ago. We wanted to transition development to a new team and make it as smooth as possible for them. As it turns out, this is not what happened. One of our advisors leaked internal information about the transition after dumping the order book.

As they assure it is not exit scam. The team is going to stay and help new developers who are interested in taking over the project. 

 

The blockchain still works and we will be here for as long as it takes to make sure that the project goes into the correct hands.

Price of BWK coins dropped immediately after that news. From over 3000 sat to 600. It looks like that price starts recovering a little but the news is fresh so not every investor heard about it yet. Probably that dump was made by one person but according to latest scams people could follow it and sell their coins to protect at least some of their investment.

BWK chart
Bulwark chart | 7 days | coinmarketcap.com