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AzukiDAO threatens to sue project founder over alleged rug pull of 20 thousand ETH

  • It’s about the scandalous Azuki Elements collection
  • The team had previously been accused of plagiarism and market manipulation
  • But AzukiDAO also has questions

Last week Chiru Labs faced a wave of criticism after the Azuki Elementals collection was released.. Technical problems, suspected plagiarism, and alleged rug pulls are just some of the community’s complaints. As a result, members of the AzukiDAO group, which includes holders of the original tokens, suggested filing a lawsuit against the founder of the project, known as “Zagabond.”

Why has the collection drawn fierce criticism?

The Azuki Elements project was launched on June 27.. At the same time, the studio distributed 20,000 tokens to the community in advance, which, of course, affected the value and value of the collection on the secondary market.

Furthermore, the project never went public. The entire collection was sold out in literally 15 minutes at private sales.. At the same time, the value of tokens from the original Azuki collection fell by more than 28%.

But the nuance here is that Elements is actually a plagiarized version of the old collection. As a result, the studio was accused of attempting to manipulate the market. That criticism only hardened after the project team transferred 20,000 ETH to a purse allegedly linked to “Zagabond.”

The AzukiDAO offer

On Saturday, July 2, this offer appeared on Snapshot. Its author is a member of AzukiDAO, a group of original brand token holders. It says the organization has prepared a lawsuit against Zagabond for the return of 20,000 ETH ($38.9 million).

As of this writing, 29 million BEAN (88.35%) are registered “For” and 3.8 million BEAN (11.65%) “Against”.. But despite the seemingly general support, some members of the community became suspicious.</nbsp;

A user with the nickname “Tytaninc” posted a denunciation on Twitter, for example, in which he claims that the group has a malicious agenda. Allegedly most Azuki NFT holders had never heard of this DAO.</nbsp;

Additionally, the contract to which BEAN should have been sent to vote was registered shortly before the proposal was published. And the AzukiDAO page did not appear until June. This suggests that the proposal is not coming from enthusiasts, but from scammers or manipulators looking to make money.</nbsp;

Nither Zagabond nor Chiru Labs have yet commented on the situation.