As was updated in an earlier Coincu News article, on October 11, after a series of scam allegations were spread, SushiSwap’s new CEO, Jared Gray denied all the allegations in a post on its social platform and accepted a public investigation.
He said the 2019 fraud allegations were made by him and investors who discovered his business partner had stolen money from the community while he was busy raising funds to start Bitfineon exchange.
Upon finding out with some investors, Jared Gray fired him and refunded the affected people in full.
He insists on always acting with integrity and you can contact any partner to verify. Jared Gray admitted to a number of commercial errors disclosed by Twitter Thread, but denied any baseless allegations.
Despite denying the allegations have been made, Sushi is still being hit hard by this crisis.
Previously a whale accepted a loss of more than $1.5 million to liquidate the accumulated 1.22 million SUSHI. This also contributed to the worsening of SUSHI’s price. Currently SUSHI is still trading at $1.23, down nearly 10% within 24 hours.
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