Exactly and 1 person controls 70% of supply and has buy walls across several exchanges. This is a heavily manipulated coin and possibly a scam; 1 person can literally turn off the entire project. Having a person with almost zero programming experience control a team of "1-2 people max". It used to be once before this.


Because people keep buying them. Even though you know it's a shitcoin, others don't.

feel free to verify anything I have stated; I have provided definite proof and a lot of it

Hello all,

I have decided to start researching all coins that look suspicious, scam, pump n dumps, or a REALLY bad investments. I will hopefully be posting about 1 coin per month duo to heavy research with analysis on why you should never ever buy it. My first coin will be 1337 coin also called "leet". Some of you may know this information, so this post will be directed to others, so they do not fall into the same trap.
First, lets analyze the simple stuff:

1. One person that goes by the nickname (Lady Whale) owns almost 70% of the supply, hidden in several wallets including cryptopia's wallet. This is extremely bad duo to 51%+ attack as well as being able to cause artificial price rises or market manipulation. Some images show that Ladywhale admit she can manipulate the market and that alone is huge.


2. The supply is 38 Billion coins with a current APR of 20% (down from 1337%). Yes, previously the APR was 1337%, meaning a few people got rich and control almost all the supply.

3. The coin had been taken over TWICE! First by Velvet78, next by Xenonflux.


https://bitcointalk.org/index.php?topic=1319833.0
https://bitcointalk.org/index.php?topic=2249640

4. The previous lead developer (Velvet78) hasn't produced anything major and was first on "vacation" for two months, then "busy programming", and finally "has a family emergency". If you check Velvet78's profile on here, he used to talk dutch and suddenly he learned turkish out of the blue and doesn't know what 1337 is. Did he lose his memory too? Xenonflux and Ladywhale (person with most coins) have been coming up with ridiculous excuses for months. Now finally, Ladywhale says Velvet78 is not the original developer and is still "recovering"

Even KingofDew (previously a crypto youtube is worried and hasn't been in contact with velvet)








5. Yobit owns millions of millions of coins and is staking them, causing more sell pressure. Nobody is even buying and Yobit is just selling their stake for free money.




6.1337 has been here for more than a year and have released nothing that "big".



7. Ladywhale is very shady admits she is the largest buy support on all exchanges.




8. Graph is a typical pump n dump graph:



9. Ladywhale owns the slack, website, and almost everything and not the 1337 foundation or team. She is also very aggressive (since she owns a high %) and has banned people (user by the name secdava) for reporting a vulnerability or anything that has the potential to hurt her investment. Not sure who owns the vulnerability, but the user that stated there was one got instantly banned.




10. There was a website contest and this is the new website.




Seems some of 1337 team members told people from discord to reply here to help protect their image, so some posts will call this FUD even with proof.

Ya sure bro he got "hacked" a lead develop getting hacked on here with no other way of communication. His slack for hacked too? his email? he doesn't have the phone number of other developers to tell them to say he got hacked?

This is being put under the rug new client created by another takeover by xenon.
Velvet quit and that's final.

1 more thing, if you don't "stake" then open your wallet after a year.......you will still the reward. Guess you didn't know that. Also lady satoshi owns his wallet if you didnt know that.

I wasn't FUDING as well.

I said velvet quit and provided proof. Messaged him here and he said he isn't working on 1337 and behold what this "new developer" xenon said

"https://www.reddit.com/r/1337Foundation/comments/720oje/new_wallet_update_v1900/"

"On a different note, our main developer Velvet78 is unreachable at the moment due to an emergency so I have stepped up to carry out his development work. More exciting stuffs are coming up next. Stay tuned!"

Lies and more lies!! Stay away from this coin guys.
Velvet has quit.
3 months and you cannot even reach the real velvet, even satoshi replied faster than this.


3 month "vacation" so far and the excuse for the next 3 months is probably "emergency or family emergency".

Nice seeing that from a 22 activity account.

Also two other people with legendary posts have stated the same thing if you bothered reading. All you have to do is send a PM to velvet to confirm what I said (he logged in yesterday), but feel free being in denial. Why would I spread FUD on a 1 sat coin? I am giving facts and do are others.

I AM TELLING YOU TO PM THE COINS DEVELOPER.

Feel free to disprove me. JUST SEND HIM A PM.

I agree with this. He either sold his account , gave it to a friend, or got hacked.
He is currently saying that he quit working on 1337, so don't get scammed.

Not sure who is working on it, but a dishonest community here.

Want my proof? Go pm velvet yourself asking him and he'll either ignore you or answer the same thing.
Second is isn't posting here and doesn't care about us. If people spread "FUD" , then develop comes and answers them and not hide for months.

Secdata was an annoying idiot all of his ideas did not help and he spread FUD. I am giving you the truth here...VELVET IS NOT WORKING ON THIS ANYMORE.
Velvet is active on here and hasn't posted a thing here. GO PM HIM and he will tell you that he IS NOT working on it.

I asked velvet on here he said he is not working! Let them all buy for nothing.
No halving, constant dumps all day, only 1 order buying at 1 sat and 40% of coin for sale.
People dumping at 1 sat every day 50 million+ coins!

Even velvet dumped his coin! check his address

pm velvet and he will confirm he is done if you dont believe me & xenon is only active person.
Does xenon have access to 1337 ? how will he update anything if velvet has control here?

I can confirm this I contacted velvet personally and he said he is not working on 1337 and has no plans on working on it.
3 months no activity on github.

can provide proof if people want

If velvet is still working then he can come here and say that himself (he wont).