Months ago, a Twitter account called “Zeus Capital” was registered, along with a corresponding website. Zeus Capital claims to be a crypto hedge fund with knowledge that could bring Chainlink (LINK) price down to $ 0.07.
At the time the fund started being accused of fraud, LINK was trading for $ 4-5. Zeus Capital expected a 99% drop at the time, writing in a report:
“Based on our findings, we opened a short position in LINK and advised you to do so with a target price of $ 0.07 and a near 100% chance of a price advance,” the last sentence of written report.
But Zeus Capital’s strategy has not worked. Due to a broader rally in the altcoin market focused on decentralized finance and the collective efforts of Chainlink holders to “liquidate Zeus Capital”, LINK soared higher.
When LINK started to increase in price, someone built an on-chain short position through Aave worth $ 16 million at the time of its peak liquidation. Some believe it to be the Capital of Zeus, although there is no evidence of this.
And in mid-August, at the height of Zeus Capital’s campaign against the Ethereum-based cryptocurrency, LINK was trading at $ 20, 300% higher than when the fund launched.
But even after this rally, Zeus Capital hasn’t called for it to stop working. The company, unknown to its partners and investors, was recently spotted publishing and promoting tweets similar to those published over the summer.
Zeus Capital is still around
According to “Bully”, Zeus Capital is far from liquidated.
On his Twitter feed, he noticed a “Advertised” tweet from the official Zeus Capital Twitter account praising the Chainlink team for selling a million LINKs per week. In that same tweet, the company called LINK an abyss of money. “
Tweet with “Advertised” means the company has paid Twitter to deliver the tweet to the people who don’t follow the account.
Lmao THEY BACK! GIGALONG THAT. pic.twitter.com/l1X9stdoTC
– ฿ ully (@BullyEsq) November 12, 2020
Zeus Capital’s Twitter has published several other tweets recently, including one that mentions “The $ 100,000 bonus program for providing information on Chainlink’s fraud and illegal practices.” This is similar to reports earlier this year that showed the company would pay up to five BTC to analysts for a lower LINK prediction.
The fund is also continuing to push up its report that LINK will increase to $ 0.07. The report alleges that Chainlink is just a steam software and a project aimed at enriching its founders.
There is a theory that Zeus Capital is an entity launched by Chainlink followers to pull the LINK community together against a common enemy. After all, LINK peaked in August when Zeus Capital was loudest.
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