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The ongoing feud betwixt Fetch.ai CEO Humayun Sheikh and Ocean Protocol Foundation took different twist, arsenic the CEO issued a bounty for much accusation related to an alleged misappropriation of tokens worthy millions of dollars.
Sheikh, successful an X post connected Tuesday, offered a $250,000 reward for much accusation connected the signatories of OceanDAO’s multisignature wallet and their transportation to the Ocean Protocol Foundation.
A multisignature oregon multisig wallet is a cryptocurrency wallet that requires aggregate signatures to execute and process a transaction.
The $250,000 bounty connection comes days aft the CEO alleged that a squad wallet related to Ocean Protocol misappropriated astir 286 cardinal Fetch.ai (FET) tokens worthy astir $80 cardinal astatine property time.
The misappropriation occurred during the 2024 merger of the Artificial Superintelligence (ASI) Alliance, which combined Fetch.ai, Ocean Protocol and SingularityNet into a shared token framework.
Sheikh claimed that Ocean Protocol minted and transferred millions of OCEAN tokens earlier the merger and converted them into FET tokens earlier moving them to centralized exchanges without the indispensable disclosures.
Source: Humayun Sheikh The feud escalated into ineligible threats past week, aft Sheikh pledged to money class-action lawsuits crossed 3 oregon much jurisdictions and called connected Binance, GSR and ExaGroup to investigate.
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Binance speech announced ceasing enactment for OCEAN token deposits connected Thursday, but did not notation the quality arsenic the origin down the decision.
The escalating quality besides affected the FET token’s price, which fell 9% successful the past 24 hours and was trading astatine $0.25 arsenic of 8:47 p.m. UTC, Cointelegraph information shows.
FET/USD, 1-month chart. Source: CointelegraphRelated: SpaceX moves $257M successful Bitcoin, reignites questions implicit its crypto play
Ocean Protocol moved $120M of FET tokens to Binance and OTC providers: Bubblemaps
While Ocean Protocol denied the allegations, onchain information points to an Ocean Protocol-linked multisignature wallet converting astir 661 cardinal Ocean tokens into 286 cardinal FET coins, according to blockchain information level Bubblemaps.
“Despite the merger, Ocean Protocol squad kept a ample magnitude of $OCEAN successful their wallets – supposedly for ‘community incentives’ and ‘data farming,’” wrote successful a Tuesday X post, adding:
“In total, an estimated 270M $FET tokens were sent to Binance oregon an OTC supplier [...] Total value: ~$120M.”This included 160 cardinal FET tokens transferred to Binance and 109 cardinal transferred to GSR Markets.
Source: BubblemapsOcean Protocol withdrew from the Artificial Superintelligence Alliance connected Oct. 9, with nary notation of the token transfers.
On Thursday, the protocol denied the allegations and said it would hole a ceremonial effect to the “various unfounded claims.”
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