Cryptocurrency

SolChicksNFT CEO, COO leaked messages confirm up to $20M treasury fund loss

A newly leaked message appeared on Twitter earlier today, revealing a discussion between SolChicksNFT CEO William Wu and COO Lewis Grafton, who moved from Catheon Gaming.

According to blockchain detective ZachXBT, leaked messages between Wu and Grafton detail the loss of up to $20 million in treasury funds as a result of the UST implosion in May.

ZachXBT has reached out to Grafton for comment for more information about the leaked message. Concerns began to mount after Grafton’s response, the company said, adding that it had “disclosed and discussed with its largest individual shareholder.”

“[We] Given that it still has 5+ years of runway and zero leverage, we decided it was in the project’s best interest not to make an official announcement and risk unnecessary concerns. ”

ZachXBT voiced his concerns, stating:

“It’s disturbing that they think retailers don’t need to know, only big investors need to know.”

He also explained that this response from Grafton contradicted an internal email released by the company detailing “massive layoffs.”

Additionally, ZachXBT explained that SolChicks was featured in a thread he created in 2021, highlighting concerns over “deceptive marketing (use of non-public ads/bots) and poor management.”

In its latest update, Catheon Gaming released a tweet in response to the leaked message, “strongly” condemning the malicious person for leaking “confidential corporate information for promotional purposes,” and announced on November 16. scheduled an AMA at 1:00 PM UTC.

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