In the world of Web3, trust and transparency are the cornerstones of sustainable growth. However, the recent experience with the Dop project, in which $160 million was raised through private sales, reveals a disturbing lack of both. As investors, we have encountered serious issues that not only question the integrity of the project but also cast a shadow over the future of Web3.
Big Scam Problem
The Dop project managed to raise a substantial sum of $160 million through private sales, with investments made at various levels. Unfortunately, details of these private sales and the prices paid by different investors have remained murky. My personal investment was at an average price of $0.055, yet the market prices were supposed to range between $0.06 and $0.08. Shockingly, the current token price is 22 times lower than the private sale prices, leaving investors with a significant loss.
This situation is more than just disappointing; it raises serious ethical concerns. The disparity between the private sale price and the current market price suggests that investors may have been misled, and that the projectâs management is failing to take responsibility.
The Response from Dop
The Dop team has claimed that they are not interfering with the price, yet no concrete steps have been taken to rectify the situation. This hands-off approach is not only unacceptable, but it also signals a disregard for the investors who believed in the project. The lack of transparency and accountability threatens the credibility of the entire Web3 ecosystem.
A Call for Action
Itâs crucial that this situation be monitored by legal authorities and that appropriate measures are taken to address the potential fraud. The fact that there have been no serious actions taken so far is alarming. We cannot allow such practices to continue unchallenged, as they undermine the principles upon which Web3 is built.
To address this injustice, we are calling for the protection of investor rights, a transparent process, and responsible management. If necessary, we will seek justice from the Japanese government, where the Dop project is based.
Join Us in Raising Our Voices
We urge the Web3 community to stand with us. Share your thoughts, support, and comments to strengthen our call for justice. Together, we can push for the transparency and accountability that is essential for the future of Web3.
Letâs make sure that no one else falls victim to this type of scam. The time to act is now. â