Sui-based NemoSwap’s investors deny involvement in $3M seed round

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NemoSwap, a Swiss-based decentralized exchange, misled the public about investors in its project after two investors nominated in its $3 million seed round walked away from the project.

Now-It was deleted In a statement, Nemoswap claimed to have completed a funding round led by Node Venture. DEX added that nine other investors participated in the round, including Tally Capital, Pitia, Mythos, CryptoSlate, Olymp Capital and Signum Capital.

NemoSwap purported investor (Source: Suipiens)

but, crypto slate and Signum Capital publicly denied any involvement in the project. June 8th, crypto slate warned He added that he had reported the project to the community, but had never heard of it.

CryptoSlate CEO Nate Whitehill corroborated this tweet. Mr Whitehill said:

“After we called them out, they blocked us on Twitter, so we sent them a DM telling them to remove us from the site and mentions.”

Signum Capital also said It had nothing to do with the project.

NemoSwap had removed its funding round statement at the time of this article. The project is currently holding an Initial Dex Offering and, according to its website, has raised 1.5 million SUI tokens worth $1.125 million at the time of writing.

inactive investor

No other companies listed as investors in the project exist or are inactive. The last time Pitia was active on his Twitter was in his 2019, of crypto slate A search of their LinkedIn page reveals that they only have one employee. Navneet Suman is Managing Director.

moreover, crypto slate Claims that NemoSwap interviewed Pithia CFO Jonathan Swalser could not be confirmed. Pitia’s official website stated that managing his director was the only member of the team.

Other nominated investors, such as Tully Capital, website It provided no information and its Twitter page was last active in 2021. Meanwhile, Olymp Capital’s Twitter account was last active in April 2022.

crypto slate It was not possible to confirm whether Node Venture has invested in the project. It was also not possible to confirm whether it is affiliated with any of the projects listed on its website, as it has not yet responded to requests for comment as of this writing.

Is NemoSwap a scam?

Twitter on June 8 thread Labeled by Global Crypto Hub NemoSwap is a scam. According to Global Crypto Hub, his website for this project was registered under the same domain by the team behind Suiswap.

Global Crypto Hub said the project did not provide any information about the team, claiming this was for confidentiality reasons.

Attempts to contact the NemoSwap team were fruitless. Invitations to his official Discord account have been suspended and the project has locked his Twitter comments section.

nemo swap
NemoSwap’s suspended invitation (Source: Discord)

On the other hand, Global Crypto Hub described NemoSwap as chose We muted all ambassadors and kicked out the user who asked the question.

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