一發入魂
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Exposing the epic A16Z investment fraud project Balance: 'No one understands fraud better than me'
According to the financing information from Cryptorank and Rootdata, a16z led a $30 million investment, with some second and third-tier VCs participating. The second round of $10 million also saw investments from well-known VCs like Animoca.
I became interested because of the endorsement from a16z.
Upon further investigation, I found that this project had just started selling nodes, and the node price was calculated based on a16z's round price.
It's quite similar. I didn't expect the fraud techniques of this project to overturn my understanding of the project's bottom line, and all of this is just the beginning...
Fraud 1: TGE time is indefinitely postponed
Initially scheduled for TGE in January, it was postponed to February, then to Q1, and finally to April. Each delay was made without explanation, while they spent money hiring a bot army to hype up and deceive more people into buying nodes on Discord and Telegram.
I became interested because of the endorsement from a16z.
Upon further investigation, I found that this project had just started selling nodes, and the node price was calculated based on a16z's round price.
It's quite similar. I didn't expect the fraud techniques of this project to overturn my understanding of the project's bottom line, and all of this is just the beginning...
Fraud 1: TGE time is indefinitely postponed
Initially scheduled for TGE in January, it was postponed to February, then to Q1, and finally to April. Each delay was made without explanation, while they spent money hiring a bot army to hype up and deceive more people into buying nodes on Discord and Telegram.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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