Scandalous Exposure in Altcoin Market: 13 Million Dollar Secret Deal Revealed!

The allegation made about the former employee of the altcoin project created an agenda in the cryptocurrency market.

An important scandal broke out in the cryptocurrency world. Famous cryptocurrency investment firm Polychain has disclosed its former general partner Niraj Pant's secret side deal with portfolio company Eclipse Labs.

According to the news reported by CoinDesk Global, Polychain led a $6 million pre-sale round for Eclipse Labs. Meanwhile, former employee Niraj Pant allocated 5% of Eclipse tokens to himself as a result of a secret agreement. This rate later dropped to 1.33%.

The total value of the tokens allocated to Niraj Pant was approximately $13.3 million.

They made a secret agreement with the CEO

It was stated that Pant did not notify Polychain about this agreement and violated the company's policies. According to the details put forward, former Eclipse Labs CEO Neel Somani offered Eclipse tokens worth $13.3 million to Pant. Pant found this offer attractive and did not turn it down.

These tokens were offered as an incentive for Pant to secure Polychain's financing. It turned out that this agreement was not disclosed to Polychain's investors and limited partners.

Polychain discovered Pant's collusion during the internal audit process. The audit team detected anomalies while reviewing Eclipse Labs' financial records.