Unknown “developers” decided profit against the background of the growing popularity of the "Black Lives Matter" movement, aimed at combating racism. They issued a token and named it in honor of the African American George Floyd who was murdered by the policeman's actions.

Reputable crypto media warn: this project is probably fraud, so be careful.

Attempt to make money on national anger

The project named after George Floyd is made in the spirit of the scam ICO 2017-2018. The organizers are unlikely to really release the product to the market, they just want to make money on the anger of the American people, which caused riots and the introduction of curfews in several big US cities.

More about the crypto startup George Floyd

The official website states, the FLYD token should be “a safe way to finance empowerment”. In fact, this is an ordinary unremarkable token of the ERC-20 standard, which will work on the basis of the Ethereum blockchain.  The vision paper tells, FLYD will support activists and protesters.

Like many other fraudulent crypto startups of previous years, the George Floyd project does not specify why protesters need a flow of payments in an illiquid token or why they need specialized payment solutions.

Airdrop as a way to attract users

Unknowns made the announcement of several airdrops on the Uniswap site in order to attract potential buyers. They also promise to send part of the funds to the family of the deceased Floyd, as well as to the "Black Lives Matter" movement. Still, it is alarming that they don't tell about the algorithm for the distribution of crypto assets on their website.

Another warning sign is the fact that the feedback form simply does not work on their official website.

What happened?

Recall, on May 25, 2020, the police threw George Floyd face down on the ground during the arrest, and one of the policemen put a knee on his neck and held it like this for about seven minutes. He was violent, despite the pleading and groans of Floyd for mercy. Even after the African American started bleeding and stopped showing signs of life, the former policeman didn’t remove his knee from his neck for four minutes.

This violence was filmed by passers-by and posted on social networks, which caused a storm of protests throughout the United States of America, and President Trump was even evacuated from the White House for security reasons.

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