Fat Penguin CEO is accused of acquiring funds from the Rug project

Source: Block Groove On October 7, Horlomite Research, which is committed to “exposing the largest fraud in the cryptocurrency and financial fields”, posted several updates on social media Penguins’ funds “100% come from four rug projects” and provided “on-chain evidence”.

CEO response: The community has been building Web3 IP the right way since rebuilding

In response to this, Luca Netz himself quickly responded on Seeing that we won) is suspected to be a response to Horlomite Research’s doubts this time.

According to the evidence provided by Horlomite Research, Luca once “shoplifted” and became “a drug dealer” after dropping out of school at the age of 16. Later, he also “sold counterfeit jewelry” and “engaged in commercial fraud” and other deeds, and then entered the cryptocurrency industry. , rug received funds from SBCC, SBMP, DGU, DS, CNK and other projects, and subsequently started the Pudgy Penguins project.

Horlomite Research said on

Luca also posted several updates in a row, refuting Horlomite Research’s accusations one by one, especially regarding rug’s funding. Luca said: “In 2019, I deployed US$3 million in 15 different companies, including sports shoe stores (CNK ), Saas products (SSB) and other brands etc. During the COVID-19 pandemic, many brands were hit and one of them was CNK’s physical business. I gave them a loan to keep them afloat and finally the CNK team decided This loan was repaid when the NFT project was launched.”

Community Comment: Yuga is distracting public opinion

Regarding this matter, some community users said that Luca “is creating value, not extracting value”, while others pointed out that Luca did not respond to other suspected rug projects raised in the Horlomite Research article.

Decentralizd, the founder of the NFT project DystoWassies, believes that behind Horlomite Research’s sudden accusations against the founder of the Pudgy Penguins project may be a move by Yuga, who is also an NFT project, to shift the focus of public opinion: “I heard that Yuga funded today’s Pudgy FUD. A funding round to distract from the fact that they are slowly failing as a company."

It was reported on October 6 that Yuga Labs announced that it would conduct a team reorganization to better focus its team on core priorities. Subsequently, the community discussed the matter a lot. Perhaps the “They” in the sentence “They hate to see us win.” in the post Luca retweeted has a meaning.

Luca said that “‘Fat Penguin’ is the ‘Trojan Horse’ of the real world.” Just 10 days ago, Pudgy Penguins was officially launched on Amazon.com.