Ocean Protocol’s team faces $250K bounty after $120M crypto dump allegations

Fetch.ai CEO Humayun Sheikh has issued a $250,000 bounty for information regarding the signatories of OceanDAO’s multisignature wallet following allegations of token misappropriation. Sheikh claims that the Ocean Protocol team minted and converted millions of OCEAN tokens into Fetch.ai (FET) tokens before the Artificial Superintelligence (ASI) Alliance merger, moving them to centralized exchanges without disclosure. This follows Sheikh's earlier claim that a team wallet misappropriated about 286 million FET tokens, valued around $80 million at the time. Onchain data from Bubblemaps suggests an Ocean Protocol-linked multisig wallet converted roughly 661 million OCEAN tokens into 286 million FET coins, with an estimated $120 million worth of FET tokens sent to Binance or OTC providers like GSR Markets. Ocean Protocol has denied these allegations and stated it is preparing a formal response. The dispute has impacted the FET token's price, causing it to fall 9% in 24 hours, and led Binance to cease support for OCEAN token deposits.

(Source：Cointelegraph)