According to Wu Shuo, GeekCartel co-founder Jiayi revealed that the project XProtocol, which is currently contacting KOLs, was formerly the cryptocurrency savings platform Finblox. Due to loaning user deposits to Three Arrows Capital, it went bankrupt. User deposits were forcibly exchanged for worthless tokens by the project party, and users are still unable to log in.

XProtocol claimed to have received investment from Dragonfly, but it was actually an investment in Finblox. The founder of XProtocol also conducted several failed projects.