Is Verge the Next BitConnect? Ongoing Inconsistencies Alert Crypto Community

While staunch Verge supporters are quick to decry "FUD" at any and all negative news regarding their favored coin, an increasing amount of evidence that the project may be a large-scale exit scam is manifesting - notably, the disappearance of over 18 million XVG from the Verge "Fundraising" wallet.

While Verge proponents have vehemently defended the token over recent months - in spite of a bizarre fundraising request and unsubstantiated partnership announcements - the increasingly erratic actions of the Verge development team are becoming impossible to ignore.

Verge Team's Inconsistent Statements Don't Add Up. The transfer of tokens was met with immediate derision from the cryptocurrency community at large.

The Verge dev team took to the Verge telegram group shortly after the transfer to inform supporters that the XVG was moved to pay Ledger - presumably for Ledger wallet integration.

The official Verge Twitter account was also quick to address community concerns, stating that the tokens were being moved to "Partnership wallets, where they belong", requesting that the VergeFam "Stop panicking."

In response to concrete evidence, the Verge dev team advised Telegram group members that they "Started a conversation with Ledger" and "Got pricing for integration," planning on "Picking the conversation back up next week once had funds."

Verge proponents are struggling to defend the actions of the Verge dev team, who have presented inconsistent reasoning for the transaction.

The history of the team behind Verge - specifically Verge founder and CEO Justin "Sunerok" Valo - is colorful indeed.

The Verge Medium blog team post describes "Sunerok" as possessing "20+ years in network security" and "6+ years in blockchain." Publicly available conviction and arrest information shows that from 2003 to 2010, Verge founder Justin "Sunerok" Valo was arrested eight times on a variety of charges including criminal mischief, prowling, traffic violations, and failure to appear in court.

Verge transferred fundraising capital earmarked for "Partnership development" to an exchange wallet, then misled the community about why.