Crypto startup Wireline casts shadow on OpenLibra launch.
The involvement of Wireline seems to have overshadowed the announcement with previous investors calling the company a scam.
Rew Lee, the founder of Web3Journal, filed a complaint with the U.S. Securities and Exchange Commission saying that Wireline and its founder Lucas Geiger committed fraud.
Geiger, who is one of the core team members of OpenLibra, reportedly stopped responding to Lee, who invested $1 million in the company during its 2018 ICO. According to Lee, Wireline's advisor Sizhao Yang and Geiger failed to deliver on almost all of the major promises made during the initial coin offering.
Lee's complaint could bring other investors forward.
In a Twitter thread, Lee went on to share the conversations he had with both Geiger and Yang.
According to the screenshots, Geiger hasn't responded to Lee since early March, while Yang's answers were brief and unhelpful.
Apart from promising an expert team would lead the project, Geiger and Yang reportedly said that Wireline's native token would be released in the second quarter of 2018.
Wireline's peer-to-peer collaboration at Devcon on Oct. 10.In a follow-up tweet, Lee said that he managed to contact Burdon, who was "a lot more understanding" and the two are reportedly trying to find "Middle ground."
In the meantime, Geiger's reputation and the reputation of OpenLibra will be at stake if more investors with similar stories come forward.
OpenLibra announcement overshadowed by core team member's questionable past
gepubliceerd op Oct 11, 2019
by Cryptoslate | gepubliceerd op Coinage
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