The Hydra cryptocurrency with the ticker HDA is the token of the project ZoloUs. The project aims to be much more than just another cryptocurrency on the market.
It advertises itself as a sustainable platform that aims to transform the digital economy. Become a new path for economic growth, while recreating the economic infrastructure of nations.
All of the lofty ideals sound nice but are also very vague. The particulars of how ZoloUs works are a little short on details and sketchy. Perhaps behind the façade of humanitarianism, a possible dark purpose is awaiting.
It could be that in the end, ZoloUs and the Hydra cryptocurrency are just another crypto scam.
ZoloUs is a crypto platform that promises to give up daily deposits of Hydra (HDA) their cryptocurrency to their users.
Each participant would receive 380 HDA per day per person for as long as the project is online. Initially, you are able to sign in ZoloUs without having to make any payments, and there is no need to register anyone else.\
Additionally, the platform pays 500 HDA for any new members brought to ZoloUs using affiliate links. This is on top of the 380 HDA payments made once the registration is complete.
So, 380 HDA a day and 500 for any new people you bring seems like a good deal. Well, here things get complicated.
Currently, the HDA cryptocurrency is not registered with any crypto exchanges anywhere on the internet.
Furthermore, those rewards accumulating via their platform are currently locked. No matter how much HDA you have, there is no option to withdraw it anyway. Even if you could, there is no way to exchange it for any other cryptocurrency.
The project claims that during the start of 2021 withdrawals of their cryptocurrency will be made possible.
In the meantime, they ask for donations of 2 to 50 dollars to contribute to the development of the ZoloUs platform. It is unclear who has control over these funds, or how are they being used.
Hydra (HDA) is the cryptocurrency of the ZoloUs project, that much is clear.
Now, what does this mean? Is ZoloUs a new blockchain?
If not, on what network has the Hydra Token being developed, and how many there are? These are important questions when it comes to cryptocurrencies.
To answer the first question, no ZoloUs is not a new blockchain or any other type of distributed ledger.
It is a token developed on top of the Ethereum network using the ERC-20 token standard.
It was created on the 14th of May of 2020 and has the following contract address: 0xe3d208d74e4c167245913c942df8c4ee03b9abba.
You can use it on EtherScan to check the transaction history of the contract.\
If it is an ERC-20 then there must be a total supply of the token.
Yes, 21,000,000,000,000 HDA tokens were created with the initial contract. That supply is expected to be sent to the members at a rate of 5% per day. Much the same as another unscrupulous project on Ethereum Forsage.
As said before, right now there is no way to take the HDA cryptocurrency from one's account at ZoloUs.
Additionally, the supply for the token is very high, so even if it were to be unlocked, it would be worth very little considering how many there are.
This, however, has not stopped ZoloUs from asking for money.
Like with many other similar schemes on the web, ZoloUs asks for donations to their community.
They use a chain style promotional campaign where people post stories about their situation after making a donation. Then tag others to do the same and propagate the post to make it viral.
As said before, there is no indication of what or who controls these donations.
It is unclear for which part of the development the money is needed or how much has the ZoloUs Foundation received.
After all, the token is out, and the platform seems to be working as intended.
So, why does the ZoloUs Foundation need more money?
There have been no official answers addressing this concern and it would be hard to know who is qualified to make them.
On what is another clear sign about the shadiness of the project.
There is no actual answer to this question.
The website does not provide any official information regarding the team behind it.
Nor there is any way to contact the developers or people involved with the platform.
At one point it was claimed that ZoloUs was registered as a non-profit in the United States.
But there are no registrations under that name for NGOs anywhere in the country.
Basically, the entire operation is run anonymously by a group of people with no accountability to how the donations received are being used.
In fact, many of the social media accounts published on their website are now erased and lead to dead links.
So, even the community aspects of the project are dark and give no way to find out who or how many people are behind ZoloUs.
By now the answer should be clear.
Yes, ZoloUs and the Hydra (HDA) cryptocurrency are a scam.
The project uses the language of sustainability to claim they are a charity that is working to create a better economy, yet it is not clear how they are doing it.
Second, they claim they will provide daily income to people but their token Hydra has no economic design that would make it valuable to anyone at any point.
In fact, it is not even on exchanges, so it cannot be traded for other cryptocurrencies or tokens. It really has no value.
On top of it all, ZoloUs has no clear owner or developing team behind it. It seems that all those who were involved with its creation have done their best to make it impossible to know about them.
As shown in this article, ZoloUs and Hydra (HDA) are scams.
They are using a charitable language and the blockchain as shields to obfuscate their nefarious intentions.
It is a project that must be avoided at all costs and denounced publicly to prevent people from falling for its trickery.
It is a sad fact of the crypto world that fraud is a very common occurrence.
For more on how it operates read 5 Common Crypto Scams. The best way to protect oneself against fraud is prevention and education.
