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A disagreement between Fetch.ai CEO Humayun Sheikh and the Ocean Protocol Foundation has taken a more serious turn.
Sheikh is offering a $250,000 reward to anyone who can provide details about individuals responsible for a digital wallet linked to OceanDAO, and how they are connected to the Ocean Protocol Foundation.
The reward offer follows Sheikh’s public claims that a wallet tied to Ocean Protocol handled a large number of Fetch.ai’s tokens without proper disclosure.
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He alleged that around 286 million FET
According to Sheikh, Ocean created new OCEAN
Ocean Protocol has rejected these claims. However, blockchain tracking tool Bubblemaps reported seeing transactions from an Ocean-linked wallet.
These transactions appeared to involve converting around 661 million OCEAN tokens into 286 million FET tokens. Bubblemaps also noted that a large portion of the FET tokens ended up on crypto platforms.
In a post on X, the blockchain tracking tool said:
Despite the merger, Ocean Protocol team kept a large amount of OCEAN in their wallets, supposedly for ‘community incentives’ and 'data farming'.
More specifically, around 160 million FET were transferred to Binance
Paxos, the company behind PayPal’s stablecoin PYUSD, recently created 300 trillion tokens and then removed them from the blockchain. What happened? Read the full story.
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