Will the Electra Project ($ECA) “Billion Dollar” Partnership be a Planned Pump & Dump?
This article will focus on information that was collected on multiple public sources, such as social media and the official Electra Project BitcoinTalk thread.
Everyone knows that the success of a crypto-based project is either because it solves real world issues or simply has “business connections.” The issue with any business connection is the regulations behind crypto is still unclear, which unfortunately means there’s a lot of manipulation, insider trading and pump / dump tactics. These are the types of projects that give legitimate ones a much harder time proving their benefits to society and prolong mass adoption.
If you aren’t already aware, the Electra Project was founded by an anonymous individual by the name of “Electra01” / “E01” and is currently operated by a core team that consists of even more anonymous individuals, and some that have chosen to be the face of the project. We will have more on them later!
This alone makes us, and others, propose the following question:
How does a project with an anonymous founder & partly anonymous core team get a billion dollar company like the Otto Group to partner with them?
Simple… Exhibit A — “Business Connections.”
This was seen and discussed by an Electra community member on Twitter with the handle ECAMURDOCK, and is the main reason why we are questioning the ethics and motives of the anonymous core team at the Electra Project and will continue doing our research on this topic!
The main “theory” here is that a core team member (not known based on anonymity) at Electra went to college with the CEO of Otto — The Otto Group, or Otto GmbH & Co KG (formerly Otto Versand).
Just as the message states — the CEO would simply “scoop up a shit load of coins pumping the price and everyone will follow.”
This is the perfect scenario for anonymous individuals to sell their “share” of Electra ECA to exit or dump onto their investors. But what is in it for the CEO of Otto or any billion dollar partnership? Would their anonymous core team member / friend provide a kick back? or would they just strategically pump the price up enough to then exit sell? You can be the judge of that!
Let’s continue to Exhibit B— Additional Discussions of a Billion Dollar Partnership, which lead to the above screenshot & possible confirmation of the company Otto Group.
This post was made on August 29, 2018 (3 months before the Twitter conversation) saying that the anonymous Electra core team was talking to or trying to partner with a 10+ billion dollar company, with further talks in September 2018 — of which never happened or discussed again. There was supposedly lots of discussion and questioning of the billion dollar company in their Discord and Telegram channels by community members; however an official response was never provided.
Lots of community members also went ahead and invested more money into Electra $ECA based on this promise of a billion dollar partnership. All the community ever got was the typical — “Be patient with us.”
We did some research to check if Otto fits their criteria of being a 10+ billion dollar company, which their earnings report & stats confirm to be.
You can clearly see the frustration of their investors with delay, after delay, after delay of such important information. Many have joined the project and invested because of all the big promises that were made but never met.
You can go ahead and continue our research within their BitcoinTalk thread, Discord, and even their Telegram group. They pride themselves on being transparent with their community, even though individuals on their core team consist of anonymous individuals. Feel free to ask any of their admins!
We are here to present the info & research we have uncovered from multiple public sources.
You can of course continue researching this topic to find additional information. We truly hope that a company such as the Otto Group would never participate in a pump & dump scheme, especially when those that will be profiting the most are anonymous individuals.
We also hope the date of this story will help clear any unusual bulk buying activity of Electra $ECA prior to the announcement of any future billion dollar partnership, if it still exists… Let us continue waiting as usual :)