Crypto entrepreneur Justin Sun has accused Lee Wei of acquiring a large number of Huobi tokens (HT) for free and selling them for millions of dollars to cash out on the platform. Wei is the younger brother of Huobi Exchange founder Li Lin.
On Twitter on May 16th thread, Sun claimed to have received HT tokens at zero cost when Wei was first distributed. The Tron (TRX) founder has since claimed that Wei has been selling them on his Huobi and making huge profits.
Sun did not provide details about how much money Wei made from the HT token sale.
However, Sun promised to end this by recovering and destroying the remaining tokens along with Wei with the help of the Huobi Global Advisory Board and the HT DAO community.
According to Sun, the committee will ask Wei to negotiate a refund, putting the interests of the HT DAO community first. He pointed out that Wei should not have access to the token as he has not contributed anything to the community.
“We believe in fairness and the importance of rewarding those who truly contribute to the growth and development of HT DAO.”
Meanwhile, Wu Blockchain reported that Huobi founder Li L asked Sun to provide evidence for his claims. According to reports, Lin promised to pay 10 times the compensation if the allegations were true.
Following the news, HT rose 2.5% to $2.989 on the hourly chart at the time of writing.according to crypto rate Data shows that the exchange’s tokens have risen 3.55% over the past 24 hours.
A post by Justin Sun accusing Huobi founders of freeloading HT tokens first appeared on CryptoSlate.
