Two Blu3 DAO Founders Allegedly Embezzled Over $1 Million In DAO Donations
Fuel Labs developers have revealed on social platforms that two Blu3 DAO founders have embezzled more than $1 million in DAO donations to create personal wealth for the founders and use their positional relationships to circumvent the rules of the DAO.
On October 14, the personal account of a Fuel Labs developer @camiinthisthang accused the two female founders of Blu3 DAO of fraudulent behavior.
Allegedly, the two founder of Blu3 DAO embezzled more than $1 million in DAO donations and continued to ask for more money, continuing to receive funding despite the grants program at harmony was paused indefinitely.
Blu3 DAO is an education-oriented, Harmony-based DAO whose mission is to empower women to learn and develop their careers in the Web3 space to achieve financial freedom.
According to the evidence gathered, the harmony community (their primary funding source), has been calling them out on the harmony forum for a long time. Accusing them of misusing grant money, using the knife to economical benefit the 2 founders personally, and using a relationship to break rules.
According to the author, all allegations and evidence presented are purely collected and reported by the harmony community and this misconduct has been going on for a period of time before speaking up.
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