Recently, the Twitter account @cryptobraveHQ revealed: "The Chinese token issuance team for Mikami Yua has been arrested in Japan. The two core members of the issuance team are Chinese. Although Mikami tokens do not allow Japanese users to participate, the issuance of this token in Japan was not filed. Due to the team's soft cap fundraising of over $3 million and the market crash at the opening, the community's rights protection led to serious damage to Mikami's reputation. The Mikami team reported the Chinese token issuance team, citing the lack of filing for token issuance in Japan as evidence."

It was added: Currently, the Mikami token team's fundraising address still has about $1.6 million in Sol.

Chinese residents in Japan clarified: The Mikami Yua token issuance team has not been arrested.

However, the Chinese KOL in Japan, AB Kuai.Dong, immediately stated: "Let me say this, the team that helped Mikami Yua issue tokens has not been arrested, and this has been confirmed in many ways." He listed five major reasons why the Mikami Yua token incident has little impact on Japanese regulation:

  1. This is not fundraising for the yen.

  2. Solana is not a public blockchain with a Japanese entity.

  3. The issuer is not a Japanese national and has not issued in Japan.

  4. Mikami proactively issued a statement afterwards to clarify the relationship.

  5. No relevant promotions were issued in Japanese, only in Chinese for compatriots.

It was added: In the past three years, Japan has basically not captured project parties.

The original informant: The information comes from a Japanese friend, but there is no official evidence.

Subsequently, @cryptobraveHG responded: Regarding the arrest of the Mikami token team, my source comes from a Japanese friend who verbally confirmed multiple times that they were arrested, but did not provide evidence or news from the Japanese side regarding the arrest.

It was also added this morning: Today, the Mikami token team's fundraising address transferred 3,000 SOL (about over $500,000), and the address still has about $1 million in Sol.