Surprising allegations against DWF Labs, which has previously come to the fore with its investments in RACA and various altcoin projects, drew attention. The company is allegedly involved in the OneCoin scam. The allegations were made by a Twitter user named Nay, who claimed that DWF Labs’ investment transactions could not be matched with on-chain data, many of which went unreported. Here are the details…
A serious claim has been made for DWF Labs
A user on Twitter came up with his claim to DWF Labs. On April 11, Twitter user Nay reported that in almost all cases, the number of tokens entering and leaving DWF Labs matched the time and dollar amount, so these are not loans, so there are no standard market makers trading. According to Nay, DWF Labs processes either $50,000 to $100,000 daily stablecoin purchases or large transactions up to $5 million. It then stores all the funds on centralized exchanges (CEX).
The Twitter user noted that the number of tokens entering and exiting DWF Labs almost always matched the time and dollar amount, indicating that these are not loans and are not standard market maker operations. cryptocoin.com As we have also reported, DWF Labs is known for its active presence in the South Korean market and several South Korean projects have announced their investments in Xangle. However, most of the 11 projects announced since November last year did not disclose their investment amounts. Moreover, many of DWF Labs’ public investment transactions cannot be matched with on-chain data, and many are high-profile transactions.
Nay claimed that DWF Labs sold tokens for no less than a certain price on behalf of their project team and transferred the money in advance. It is reported that there are 10 to 20 percent discounts on many transactions, while some do not. In addition, Nay claimed that Andrei Grachev, managing partner of DWF Labs, is associated with OneCoin, a $4 billion cryptocurrency pyramid that was disclosed by Russian media in 2019. However, it should be underlined that these are only allegations.
DWF Labs has invested in RACA and these coins
DWF Labs is known worldwide for investing in many altcoin projects. DWF Labs prefers to participate in the investment process through token purchases and infrastructure projects, including tier one and second tier developments. The firm is also interested in artificial intelligence (AI)-based projects and gamified finance (GameFi). One of his most recent investments was Radio Caca (RACA). The company made a $16 million investment in RACA on April 6. On the other hand, the P2P incubation platform LABEL Foundation received an investment of $1 million from DWF Labs.
DWF recently backed a $40 million round for “alternative internet” provider Tomi, a $20 million funding round for derivatives trading platform Synthetix (SNX), and a new $40 million round for AI-driven crypto protocol Fetch.ai (FET). It also invested $10 million in AI-focused CryptoGPT.
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