Helium Is Accused Of Shady Business Activities With $6,500 Monthly Revenue

A recent critique of the Helium blockchain project by author and entrepreneur Liron Shapira has sparked a heated debate about the company’s long-term prospects.

In a series of posts on July 26, famous individual investor Liron Shapira accused the Helium (HNT) platform of generating only $6,500 in monthly revenue for investors after they poured hundreds of millions of dollars in monthly investment into the company.

In addition, Shapira claims that users who spend between $400 and $800 buying hotspot nodes per month have complained of poor returns. Instead of the expected profit of $100 per month, they only get about $20.

However, the $20 profit is considered a temporary subsidy of $19.99 from investing in the development of the network and speculating on the value of the HNT token. According to Shapira, the investor’s actual revenue is falling to $0.01 per month.

In response to the thread, Helium founder Amir Haleem provided a lengthy one of his own, addressing the criticism.

“So why is there only $6,500 worth of data being paid for? Unlike cellular networks there aren’t millions of existing devices that can switch to Helium. The best applications haven’t been built yet, and it takes months or years to build them.”

Meanwhile, Shapira disagreed with Helium’s response and reiterated his view that Helium is a failed project waiting to collapse because the Helium team built a Web3 bridge in the air.

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