An obscure cryptocurrency called eCoin (or E-Coin) was launched in an ICO starting February 8th, and shot up 4,000% in value. The following day saw another 2,000% gain, prompting many to ask what or who is behind the obscure token. There are some doubts as to its legitimacy, especially as there was an E-Coin launched last year in April under the same name. This achieved a top figure of $5.40 on April 22nd, but has since seen very little movement. Then suddenly, out of the blue, comes the new ICO and a price jump from around $8 to $290, pushing ECNinto #45 in global market cap rankings.` 

The new project, describes itself on tech forums as \"a new brand\" and \"a new future for social payments.\" It\'s a Proof of Stake based blockchain project, which says it\'s also open-sourced and publicly owned, but it doesn\'t actually seem to do anything. There is no description of how it functions, nor any coherent details other than that it has an ECN-QT wallet in which users are invited to hold funds.

Sounds dodgy? Then it probably is. The E-Coin wallet claims to have innovated new features, including Anonymous Encrypted Messaging, Stealth Addresses and Coin Control, but there is no description of these. Furthermore, any links to websites pursued for further information come up \"Not Found.\"