The $100 million financial fund supporting the DeFi project World Liberty Financial is confirmed to have suspicious origins related to the company Web3port.
The sponsor “Aqua 1” claims to be from the UAE but is actually a shell company linked to Web3port, a business previously banned from many DEX exchanges due to suspected market manipulation. The flow of funds is transferred through non-transparent foreign wallets and accounts.
MAIN CONTENT
“Aqua 1” has been identified as a shell company linked to Web3port, not registered in the UAE.
Web3port is a market maker that was banned from many DEX exchanges in 2023 due to suspected market manipulation.
The $100 million flow of funds transferred through unclear offshore wallets raises suspicions about financial transparency.
Where does the World Liberty Financial (WLFI) project receive its investment from?
The head of the WLFI project confirms the $100 million investment from “Aqua 1” but the transparency of the fund flow raises significant questions.
World Liberty Financial is a DeFi project supported by several reputable individuals in the cryptocurrency market. In July 2023, a strategic investment through the purchase of WLFI governance tokens worth $100 million was announced to originate from the sponsor “Aqua 1”. However, further investigation reveals that “Aqua 1” is not an independent investor but is closely related to Web3port.
Who is Aqua 1 and what is its connection to Web3port?
Blockchain data analysis experts assert that Aqua 1 is a shell company, lacking transparency in personnel information and registration licenses.
Initially, “Aqua 1” was introduced as a sponsor from the United Arab Emirates (UAE). However, all legal inquiries have found no signs of legal registration for “Aqua 1” in the UAE. According to chain analysis, “Aqua 1” is a shell company directly related to Web3port, a company that was previously banned from operating on multiple decentralized exchanges in 2023 due to suspected market manipulation and unfair price setting.
“Using shell companies to circulate capital not only undermines the project's reliability but also poses serious legal risks.”
Jane Nguyen, Blockchain Finance Expert, 2023
How do Web3port's scandals affect the WLFI project?
Independent blockchain analysts assess that the risks regarding reputation and transparency are very high when investment money goes through Web3port.
Web3port, acting as a market maker, has previously been banned from many major DEX exchanges due to allegations of market manipulation, causing liquidity instability and negatively affecting players. The founder “Dave Lee” operates anonymously online, only using a cartoon avatar without revealing his true identity, adding further ambiguity and suspicion. The flow of funds supporting WLFI through wallets and offshore accounts directly related to Web3port raises questions among experts about the transparency and legality of the project.
How does the use of unclear financing affect DeFi projects?
The head of a reputable financial organization warns that this is a sign of caution for global investors.
Funding from unclear sources can push DeFi projects into legal risk zones and erode market trust. DeFi is based on principles of transparency and risk management; therefore, activities involving money transfers through non-public wallets and accounts without valid licenses will adversely affect user experience and sustainable development. The negative impact may also spread by causing confusion within the global investor community.
“Financial transparency is the foundation of building trust in the DeFi sector. Any signs of obscurity need to be dealt with strictly to protect the community.”
David Tran, CEO of Blockchain Consulting Company, 2024
Comparing the transparency of funding sources in the DeFi industry
Criteria Aqua 1 / Web3port Reputable DeFi investment fund Transparent individual investors Legal registration Not registered, shell company Fully licensed Clear personal information Obscure flow of funds Offshore wallets and accounts Transparent, clear funds Clear, transparent funds Market reputation Suspected, previously banned Highly rated by experts High personal credibility
Frequently Asked Questions
Is Aqua 1 an independent sponsor? Blockchain data shows that Aqua 1 is a shell company linked to Web3port, not an independent sponsor. Why has Web3port been banned from operating on DEX exchanges? Web3port is suspected of market manipulation and causing liquidity imbalance, leading many DEX exchanges to ban it in 2023. How does the $100 million investment affect WLFI? The investment helps increase the value of governance tokens but raises concerns about project transparency. Does opaque capital pose legal risks for WLFI? Yes, if it continues to use obscure funding sources, the project may face serious legal issues. Will the founder of Web3port reveal their identity? The founder only operates with a cartoon avatar, and their true identity has not been disclosed.
Source: https://tintucbitcoin.com/aqua-dau-tu-100-trieu-usd-wlfi/
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