What is Blue Protocol (BLUE) crypto coin? The truth about a dead project
Jul, 13 2025
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Blue Protocol (BLUE) isn’t a crypto coin you should be buying. It’s not even a coin you should be researching-unless you want to learn how not to lose money in crypto. This token, listed on a handful of obscure exchanges, has been dead for years. No one’s trading it. No one’s building on it. And the people who once promoted it have vanished.
What Blue Protocol claimed to be
Back in 2017, Blue Protocol promised something bold: a decentralized way to protect Ethereum wallets from theft. The idea was simple-replace passwords and private keys with a two-factor authentication system built into smart contracts. No central server. No phone number to hack. Just a secure, user-controlled wallet. The whitepaper sounded impressive. It talked about the BLUE Protocol, the BLUE Wallet, the BLUE SDK, and the BLUE Standard. It even had a roadmap.
The project was founded by Chris McCarl, and the token, BLUE, was launched as an ERC-20 on Ethereum. Total supply: 42 million. It raised money during the 2017 ICO boom, when hundreds of projects flooded the market with vague promises and flashy websites. Blue Protocol was one of them.
What happened to Blue Protocol?
By 2019, the project had already stalled. GitHub shows the last code commit was on December 14, 2018. That’s over six years ago. The website blueprotocol.com now redirects to a random domain selling web hosting. The iOS and Android apps? Unavailable. The SDK? No documentation. No examples. No updates.
Even the token’s own data is messy. CoinMarketCap says the price is $0.0007934. CoinGecko says $0.757. One of them is wrong. Probably both. The real issue? Zero trading volume. For months, not a single trade happened. The market cap? Around $29,000. That’s less than the cost of a used car. And with only 4,320 holders, it’s not a community-it’s a graveyard.
Why did Blue Protocol fail?
It didn’t fail because it was badly coded. It failed because it didn’t solve a real problem better than what already existed.
Back in 2017, MetaMask was already letting users manage their own keys. Ledger and Trezor were selling hardware wallets to protect assets. Chainalysis and Fireblocks were building enterprise-grade security for exchanges. Blue Protocol offered a theoretical improvement-but never delivered a working product. No major exchange listed it. No wallet integrated it. No developer used it.
And here’s the kicker: the team stopped talking. Twitter went silent in June 2019. LinkedIn profiles of the founders show no activity after 2018. The project’s Reddit thread from 2022 had one top comment: “The whitepaper promised revolutionary security features but the token has been dead for years with no development activity visible on GitHub.” That’s not a review. That’s an obituary.
Is Blue Protocol still trading?
Technically, yes. But only on four tiny exchanges no one has heard of. Binance? Not listed. Coinbase? Not listed. Kraken? Not listed. You can’t buy it on any major platform. You can’t sell it easily. Even if you hold it, you can’t move it without risking loss-because the wallet software doesn’t work anymore.
On Etherscan, the contract address 0x539e...e0282b shows only 12 transactions in the past 90 days. That’s not usage. That’s someone holding onto a digital relic.
What’s the current status of BLUE?
Blue Protocol is officially abandoned. Messari included it in their Abandoned Projects Database in September 2022. The University of Wyoming’s Blockchain Research Center uses it as a case study in their 2023 report titled Lessons from Defunct Crypto Projects. That’s not a badge of honor. It’s a warning label.
There’s no roadmap. No team. No updates. No support. No future. The token exists only because blockchain records are permanent. It’s not a currency. It’s not an investment. It’s a digital artifact from the wild west days of crypto.
Should you buy Blue Protocol (BLUE)?
No.
Buying BLUE today is like buying a broken VCR because it still has the brand name on it. You won’t get returns. You won’t get utility. You won’t even get customer service. The only people who might still trade it are speculators hoping for a miracle pump-like someone betting on a dead horse to win the Kentucky Derby.
If you’re looking for security-focused crypto projects, look at Quantstamp, Forta, or Chainalysis. They’re active. They’re funded. They’re building. Blue Protocol? It’s a footnote.
What you can learn from Blue Protocol
Blue Protocol is a textbook example of what not to do in crypto.
- Don’t trust a project based on a whitepaper alone. Look for code commits, team activity, and real-world adoption.
- Don’t chase tokens with no trading volume. If no one’s buying, no one believes in it.
- Don’t ignore GitHub. If a project hasn’t updated its code in five years, it’s dead.
- Don’t assume a token has value just because it’s listed somewhere. Many exchanges list dead projects because they’re cheap to add.
The crypto market is full of ghosts. Blue Protocol is one of the quietest-and the most dangerous-because it still shows up on price trackers. Don’t be fooled. If a project’s been silent for six years, it’s not coming back.
Where to find real security projects in crypto
If you care about wallet security, look at:
- MetaMask - The most widely used wallet, with over 30 million users.
- Ledger - Hardware wallets trusted by institutions and individuals.
- Forta Network - Real-time threat detection for DeFi protocols.
- Chainalysis - Used by governments and exchanges to track illicit activity.
These projects have teams, updates, partnerships, and active communities. Blue Protocol has a contract address and a faded whitepaper.
Is Blue Protocol (BLUE) a real cryptocurrency?
Yes, technically. BLUE is an ERC-20 token on the Ethereum blockchain with a contract address and a recorded supply. But it’s not a functional cryptocurrency. No one uses it. No one trades it. It exists only as a digital artifact with no utility or market activity.
Can I still buy Blue Protocol (BLUE) on Binance or Coinbase?
No. Blue Protocol is not listed on any major exchange, including Binance, Coinbase, Kraken, or KuCoin. It only trades on a few tiny, low-traffic platforms with no liquidity. Even if you find it, you won’t be able to sell it easily.
Why is the price of BLUE so different on CoinMarketCap and CoinGecko?
Because neither is accurate. CoinMarketCap shows a price around $0.00079, based on minimal trades. CoinGecko shows $0.757, which is likely an error from outdated or corrupted data. With zero trading volume, prices are meaningless. There’s no market to determine value.
Is Blue Protocol’s wallet still usable?
No. The official BLUE Wallet apps for iOS and Android haven’t been updated since 2018. The apps don’t work on modern devices. The website links are broken. Even if you install the old app, you won’t be able to connect to any functioning service.
Did Blue Protocol ever deliver on its security promises?
No. The whitepaper claimed to offer decentralized two-factor authentication without central parties. But there’s no evidence the feature was ever implemented. No major wallet, exchange, or developer integrated it. The code was never tested in real-world use. It remained a theoretical idea that never became reality.
Is Blue Protocol a scam?
It’s not a scam in the traditional sense-there’s no evidence the team stole funds. But it’s a classic case of a project that raised money, published a whitepaper, and then disappeared. It misled investors with promises it never fulfilled. That’s not fraud-it’s negligence. And in crypto, that’s just as dangerous.
Can I recover my BLUE tokens if I bought them?
If you still hold BLUE tokens, you can technically see them in your wallet if you’ve added the contract address. But you can’t spend them, trade them, or convert them. The infrastructure to support them is gone. They’re essentially worthless digital tokens with no exit path.
What to do if you own BLUE tokens
If you bought BLUE at any point, the only realistic option is to accept the loss. Don’t try to sell it. You won’t find a buyer. Don’t try to use it. The tools are gone. Don’t hope for a comeback. The team is silent. The code is frozen.
Consider it a lesson. Crypto is full of projects that sound great on paper but vanish in practice. Always check: Is the code being updated? Is the team active? Is anyone trading this? If the answer is no to any of those, walk away.
Blue Protocol isn’t a coin. It’s a cautionary tale. And the only thing worse than losing money on a dead project? Losing money again because you didn’t learn from the last one.