There is yet another altcoin in the neighborhood named Litecoin Gold claiming to make everyone a Lamborgini owner in the least. But it is not even a proper fork of the well known Litecoing..., but a simple ERC20 Ethereum based token.
The announcement of Litecoin Gold took place on 21 October 2017 in a bitcointalk.org thread, where it was received with mixed reactions from old timers
and newbie - shill accounts alike.
Charlie Lee has already said on twitter that:
"For those asking, @LTCFoundation and I have nothing to do with Litecoin Gold. To avoid confusion, please refer to it as Lgold"
and insisted:
"Litecoin Gold is not a fork, just a token trying to cash in on the Litecoin name."
In the nine days that followed the announcement, Litecoin Gold has gone through some seriously flag raising events such as mass bans from the official telegram group, devs claiming on the Litecoin Gold official twitter account that they got hacked, a significant rebrand and a dump of unprecedented rate which led the token to a low price of 1 Sat.
The whitepaper on the official site is, of course, nowhere to be found at the time of writing.
The token appears to be actively traded in some exchanges according to coinmarketcap, having the predicted wild fluctuations that accompany such an amateurish launch.
As previously mentioned here on justcryptonews regarding altcoin creation frenzy, logic and extreme caution should be exercised when dealing with that kind of amateurish new token - crypto coins.