Recently, Steve Guo, CEO of Loopring and founding member of Taiko, has come under fire after withdrawing 1.5 million Taiko coins. This withdrawal is part of a larger 6 million plan set to unfold over three years, coinciding closely with Taiko's announcement to terminate a major project, raising eyebrows among the community.
Controversy Surrounds Withdrawal Timing
Guo's withdrawal is drawing criticism, particularly since it occurred one year after a lock period. Observers on various forums express skepticism about the timing, with comments highlighting concerns that it appears choreographed. One noted, "The timing is reminiscent of Wall Street CEOs cashing in during a downturn."
This scenario has reignited discussions around the relationship between Loopring and Taiko, with many users declaring they are not independent entities as previously claimed. Frustration among community members is escalating as they demand accountability from Taiko’s leadership.
Community Reactions and Themes
Accusations of Scamming: Many comments are leveled at Guo and his team, with accusations suggesting a broader scheme. A user ranted, "It’s been a scam all along; the signs were there."
Suspicion of Integrity: Critics are questioning management's integrity, suggesting that Guo’s withdrawal is indicative of profit-seeking behavior over community support. One remarked, "These moves show they care more about lining their pockets than helping those affected by past hacks."
Demand for Transparency: The community overwhelmingly calls for clearer communication from the Taiko team. A frustrated investor echoed, "If they don't start answering questions, potential investors must be warned."
A History of Trust Issues
Community members are also revisiting past grievances, particularly the Loopring hack in June 2024, which saw 58 users lose over $5 million. The lack of support for victims remains a hot topic, as many recount frustrations about ongoing silence from Guo and his team over a year later.
Additionally, suspicions persist that the Loopring team is not fully disclosing details from security assessments. Comments indicate that reports shared with the community lack transparency and may conceal critical information regarding vulnerabilities.
Sentiment Overview
The communal sentiment is distinctly negative, with most commenters expressing outrage and disappointment. Users often reiterate feelings of being misled, with some reflecting on personal investment losses.
"Damn. This was one of my hardest lessons learned," lamented an active participant in the discussion, encapsulating the prevailing mood.
Key Highlights
🔒 Guo’s withdrawal raises significant doubts among community members.
⚠️ Accusations of mismanagement and scams gain traction.
💬 Users call for urgent action and clarity from leadership.
As this story evolves, community focus remains sharply directed toward seeking reparative actions from their leaders, alongside maintaining pressure for transparency moving forward.