According to Bitcoin.com, the Venice Protocol project was accused by the community of dumping $10.20 million worth of tokens after the launch. The Venice team allegedly sold $VVV tokens immediately after the launch, causing the token price to drop by 63% in less than two weeks.
In addition, market maker Wintermute was accused of selling tokens before any centralized exchange went public.
In response to the above allegations, the project party responded that the token economics had been disclosed in advance, and all transactions were conducted on-chain.
Venice Protocol accused by community of insider dumping $10.20 million tokens after launch
2025-02-06 07:39:52
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