Fetch.ai CEO Offers $250,000 for Ocean Wallet Tip-Off

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Fetch.ai CEO Offers $250,000 for Ocean Wallet Whistleblower Info

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 22, 2025

Key Takeaways

Fetch.ai CEO Humayun Sheikh announced a $250,000 reward for details on OceanDAO wallet signers linked to Ocean Protocol;
Sheikh claims Ocean Protocol moved 286 million FET tokens to exchanges without public disclosure before their merger;
Ocean denies the claims, but Bubblemaps tracked 661 million OCEAN converted to 286 million FET, much of it sent to Binance and GSR Markets.

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Fetch.ai CEO Offers $250,000 for Ocean Wallet Whistleblower Info

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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 FET $0.2358 tokens, worth roughly $80 million at the time, were moved from Ocean-related sources.

According to Sheikh, Ocean created new OCEAN OCEAN $0.2185 tokens before a planned merger, exchanged them for FET tokens, and then sent those tokens to major exchanges.

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 $8.13B , while 109 million FET were reportedly sent to GSR Markets, a trading firm.

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