YEREVAN (CoinChapter.com) – The CryptoG Group CTGX crypto or token was the new talk of the town, and announced its upcoming listing on Binance due May 25. However, another aspect of the related headlines is the project’s alleged connection to the famed Satoshi Nakamoto, the anonymous creator of Bitcoin.
As Satoshi is anonymous, it is not possible to determine if CryptoG has any real connection to them. However, Satoshi Nakamoto is a famous enough name in the crypto community and draws immediate attention from potential investors. Moreover, the project claims to have a similar goal: “balance the global wealth inequality.”
What is CryptoG Group project?
The project and its token CTGX are built on the Stellar blockchain and claim to have a total approved fund distribution of $175.8 billion.
The funds will be distributed in a liquidity pool to all CTGX token holders available on all Stellar Decentralized Exchanges (SDEX) based on their shareholdings.
says the website. Also read: Bitfarms stock BITF down 80% from November record high – time to buy the dip?
According to Stellar network analysis, CrytpoG gathered more than 14,000 holders.
However, CTGX is not yet listed on major exchanges or featured on crypto tracking websites such as CoinMarketCap, or CoinGecko. Thus, potential traders should carefully research the project before considering an investment.
Is CTGX crypto or token a scam?
As the token has not yet scored a mainstream listing, it is hard to judge the project’s legitimacy. Moreover, Scam Detector, a website that monitors rug-pull websites in the crypto sphere, gave CryptoG Croup a moderate 58 ranking out of 100.
It is a business that’s been online for a while. It seems like ctgx.stellarmints.io has received both positive and negative feedback (occasionally), just like many other websites. That means that you need to exercise caution if you decide to proceed with using it.
clarified ScamDetector. Also read: 3 reasons why you don’t own enough Ethereum (ETH)
The project’s roadmap shows that it’s still in phase one of the development. The subsequent phases entail “fund injection” for the CTGX liquidity pool, launching a decentralized exchange, CDEX.
The information on the project mostly comes either from the CryptoG Group itself or from sponsored posts. Thus, potential investors should be aware that the project might contain risks. Moreover, the creators are anonymous, which raises the possibility of running into a rug-pull.
However, it is too soon to tell if CryptoG Group is a scam. Should the coin score a listing from Binance, traders would have more information for an objective evaluation.
