AzukiDAO’s Lawsuit With Founder Zagabond To Recover 20,000 ETH Get Support

July 3, 2023 - Around 3 mins mins to read

Key Points:

The founder of Not Larva Labs said he has evidence of the Zagabond scam created by Azuki, and he is willing to testify in court.
AzukiDAO proposes to hire a lawyer to recover 20,000 ETH from the founder of Zagabond and sue the project.
So far, the vote has exceeded the majority to pass it.

Jeremy Cahen (Twitter nickname PAULY), founder of NFT marketplace Not Larva Labs, said he would happily help the Azuki community take legal action against co-founder Azuki Zagabond.

AzukiDAO's Lawsuit With Founder Zagabond To Recover 20,000 ETH Get Support

Jeremy Cahen also said that Zagabond and his team fraudulently appropriated more than $100,000,000 from the community. Jeremy would love to testify in court about all this, and I have full personal information about many of the team members involved in these scams.

I will gladly aid the Azuki community in their legal actions against @ZAGABOND.

He is a pathological liar and serial criminal and I and my colleagues and I spent over a year tracking him down to recover $3,000,000 USDC worth of funds that he defrauded.

He and his team have… https://t.co/kqSA7jA6hy
— PAULY (@Pauly0x) July 2, 2023

Not Larva Labs founder’s endorsement of AzukiDAO after the community proposed hiring an attorney to assist the community in recovering 20,000 ETH from Zagabond and suing it yesterday.

Specific content includes: hiring a lawyer to file a lawsuit against Zagabond, the founder of Azuki, accusing the organization of having many Rug projects; withdrawing 20,000 ETH issued by Elementals from the team and distributing it to the DAO to promote the growth of the entire Azuki community and provide rewards and incentives for artists, content creators, and builder. So far, the vote has exceeded the majority to pass it.

Azuki Dao provides financial support for 20000E Dao. Funds will be used to help us organize a Study Group for the Lawsuit. The proposed voting deadline is July 3. It is known that AzukiDAO and 20000E DAO were founded by members and former owners of the Azuki community, not the official Azuki group.

Ahead of the news on May 10, 2022, the founder of the Azuki team, ZAGABOND.ETH, admitted in a mirror post that the Azuki team has operated three projects CryptoPhunks, Tendies, and CryptoZunks, in the past year.

At the heart of the controversy is their supposed strategy of ‘pulling the rug’, used in the “Azuki Elementals” casting process. The move deeply upset the staunch holders of the project.

Originating from the launch of Azuki’s new series, “Azuki Elementals”. The series sold out in less than 20 minutes for 2 ETH each, raising an impressive $38 million.

Many issues surfaced during the launch, from grievances about the short 10-minute time period for Mint being whitelisted to site overload leading to Mint errors and duplications – overduplication of features between the original Azuki and the new Azuki Elementals. Investors expressed concern about the potential dilution of the first-generation Azuki’s value. The controversy escalated when the project team reportedly moved 20,000 ETH shortly after the launch.

The event was marred with allegations of unfair behavior and the dizzying price drop of the original Azuki collection, which plummeted from over 17 ETH just a week ago to just 5.8 ETH.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Foxy

Coincu News

NFTs News