1/6) In early April 2020 the Solana team stated that the total circulating supply was 8.2M.
When in reality the total circulating supply was above 20M!
Marking the start of a long series of lies, fraud & deception by SOL
The following story is all based on verifiable evidence:
When in reality the total circulating supply was above 20M!
Marking the start of a long series of lies, fraud & deception by SOL
The following story is all based on verifiable evidence:
2/6) As questions & critiques started to pile up over the following weeks,
The official moderators kept insisting that there was no extra circulating supply.
Certain people grew more suspicious especially as Solana failed to update their Binance info & Coinmarketcap profile.
The official moderators kept insisting that there was no extra circulating supply.
Certain people grew more suspicious especially as Solana failed to update their Binance info & Coinmarketcap profile.
3/6) By the end of the month a independent 3rd party managed to find a unlocked Solana wallet containing 13M tokens!
Once the Solana team was fully exposed they released a medium article admitting to the fraud,
Explaining that these 13M tokens where loaned to a “marker maker”.
Once the Solana team was fully exposed they released a medium article admitting to the fraud,
Explaining that these 13M tokens where loaned to a “marker maker”.
4/6) They then promised to get these coins back and burn them within 30 days.
On numerous occasions in the following weeks did the Solana team guarantee that they would not release any new coins into the market without first announcing it beforehand.
On numerous occasions in the following weeks did the Solana team guarantee that they would not release any new coins into the market without first announcing it beforehand.
5/6) On may 23rd the Solana team announced that they were only able to retrieve 3.3M coins out of the 11.3M they had loaned out.
Instead they released 8M new SOL tokens into circulation in order meet their commitment to burn without any announcement beforehand.
Instead they released 8M new SOL tokens into circulation in order meet their commitment to burn without any announcement beforehand.
6/6) The total circulating supply was now 16M, double the supply promised in April!
After this they just moved on,
Not even publishing this release on any of their official announcement channels.
This is just one example of a pattern of behavior exposing SOL's bad character.
After this they just moved on,
Not even publishing this release on any of their official announcement channels.
This is just one example of a pattern of behavior exposing SOL's bad character.
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