Elite University Graduate and notorious market maker in the crypto industry dies by suicide! KOL reveals: pressure allegedly from a notorious market manipulator

Network3 founder Rock has passed away, and the community has revealed the pressures of entrepreneurship and the difficulties with the TGE structure. The incident has sparked deep reflection on the crypto ecosystem and the role of market makers.

KOL “Moonlight” stated on social media that he recently learned that Network3 founder Rock, who was involved in blockchain projects, passed away last year after taking his own life. He frankly said that entrepreneurs often face multiple pressures from the community, teams, and investors, as well as high personal standards. “Graduated from a prestigious university, secured funding, launched tokens—all cannot save a living person.” According to his account, Rock invested a lot of personal funds into the startup, even sold his house to fund it, but ultimately couldn’t withstand the pressure, leaving behind a newborn child and wife.

Friend’s view of Rock: An honest person not suited for the crypto world

Another KOL, Cai Si, shared his three-year experience of knowing Rock. He recalled meeting Rock before ETHDenver 2023. At that time, Rock still had a Web2 background, with a VPN product that had users and revenue, before later transitioning into the crypto space. Cai Si described Rock as optimistic and enthusiastic. During Token2049 in Dubai, he helped transport friends to and from the airport and hotel during a rare heavy rainstorm, making multiple trips in one day.

However, such a personality can also be a weakness within the crypto ecosystem. Cai Si bluntly stated that the current startup model centered around token generation events (TGE) essentially involves only two roles: “either treat others as pawns or become someone else’s pawn.” He pointed out that over the past year, he has seen too many honest people being celebrated during market bull runs, only to face criticism and capital backlash during downturns, ultimately bearing enormous pressure.

Network3 token incident also implicates Web3Port victims

Additionally, Suji Yan, founder of Mask, revealed that one of the sources of pressure for Rock before his death may be related to Web3Port. The market maker was accused of conducting unilateral sell-offs on exchanges, causing the prices of several project tokens—such as MOVE, MyShell, and GoPlus—to plummet or even become worthless. Market concerns about the liquidity provision mechanisms of these projects have been raised, which may have worsened the price crashes.

Image source: Suji Yan

• This article is reprinted with permission from: 《Chain News》
• Original title: “Prestigious University Graduate and Crypto Founder Dies by Suicide, KOL Reveals Pressure Possibly from Infamous Market Maker”
• Original author: Neo