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John McAfee-Promoted Cryptocurrency Has Major Alarming Threats; Reports

The Crypto bull John McAfee tweeted praising a cryptocurrency project that has alarming threats in it. The suspicious crypto token is called Apollo, an “all-in-one” cryptocurrency with private transactions according to reports.

Recently, Crypto development firm Jelurida reports that Apollo’s so-called privacy features promoted are not so private at all.

John McAfee tweeted,

John McAfee-Promoted Cryptocurrency Has Major Alarming Threats; Reports

Crypto enthusiast replied to McAfee’s tweet

John McAfee-Promoted Cryptocurrency Has Major Alarming Threats; Reports

As mentioned on the Apollo’s website, cryptocurrency is not accessible for the majority of the individuals across the world. Users require bank account, internet knowledge and market knowledge. They introduced a decentralized network of physical locations allowing anyone to walk in and purchase Apollo with cash as a solution to this barrier.

The firm targets to create small exchange like pop up stores where users can convert fiat to Apollo, and to other cryptocurrencies. Apollo also highlights that the coin should have IP masking and public-private transaction options.

In a blog post, the Jelurida team shared that several of the privacy features promoted by Apollo did not actually help users blur their transaction details.

The firm Jelurida built the “snake-oil” project, an advanced version of the Nxt Blockchain Creation Kit Software adapted to connect to the Apollo blockchain and display all transactions from it, ignoring any misleading “private” flags.

Apollo’s user transactions are propagated over the network in text and stored in the database. These private transactions are stored in it forever which can be extracted by anyone anytime. The Jelurida team’s findings reported that it is possible to track all the transaction information like addresses and digits which proves there are no privacy features in Apollo coin as claimed by the firm or John McAfee.