“Value Internet of Things” altcoin Waltonchain (WTC) recently held an online Valentine’s Day competition. Entrants just had to follow Waltonchain’s Twitter account, retweet the campaign tweet, tag someone they loved and use the #WaltonchainLove hashtag.
With 564.96 WTC tokens on offer to random winners, plenty of people understandably jumped at the chance to join in.
On Wednesday, Waltonchain announced the results of the giveaway via its official Twitter account. And among the lucky winners? Waltonchain’s official Twitter account.
“OMG! Cant believe I won ! (sic)” tweeted the official account, in a message quickly deleted but not before a screenshot had been grabbed for posterity. Punctuated by emojis, the message continued to gush: “Thank you Walton team ! keep doing the great work.”
According to a follow-up tweet and an apologetic post on Instagram, Waltonchain said that one of its team members was among the prizewinners and excitedly tweeted about winning using the wrong Twitter profile.
The prize in question—2.14 WTC out of the total pool—has been cancelled, Waltonchain’s statement said, and team members will be prohibited from taking part in future campaigns.
At current rates on Coingecko, 2.14 WTC equates to roughly £30, or $40. That’s 20 percent less than when the winner was announced.
Waltonchain dropped in bitcoin value from 211,760 satoshis to 165,000 satoshis on Binance following the initial winner announcement, before settling around 183,500 satoshis at time of writing.
The No Bull response: It’s not clear whether WTC’s drop in value now represents a buying opportunity for braver investors nor whether it will have any long-term effects. Considering that the amounts being given away per winner translated to roughly the $50 mark, this is one expensive competition for Waltonchain and its investors.