Fetch.ai CEO offers a $250,000 reward for information related to OCEAN

2025-10-22 02:16:12

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CEO of Fetch.ai, Humayun Sheikh, offers a reward of 250,000 USD for anyone providing information about the individuals signing the multisignature wallets of OceanDAO, igniting a dispute with Ocean Protocol. Sheikh accuses Ocean of converting 661 million OCEAN into 286 million FET before merging with the ASI Alliance, violating the spirit of cooperation and “redirecting community funds.” On-chain data shows that 270 million FET were listed on exchanges, including Binance and GSR Markets.

Ocean Protocol denies the allegations, while Sheikh claims to fund a class action lawsuit to hold Ocean accountable. The incident raises concerns about transparency and multisignature wallet governance in cryptocurrency alliances. Ocean withdrew from ASI on October 9.

The current price of FET is around 0.25 USD, down 9% in 24 hours and 92% lower than its peak; OCEAN also decreased by 4% to 0.25 USD.

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