Blockchain security experts are raising concerns about the Safereum project’s developers, who have reportedly sold off a significant amount of their native token after the project successfully concluding a $600,000 fundraising campaign.
The controversy surrounding the Safereum project centers on the sudden sale of more than 700 ETH worth of their native token.
As a result, the value of SAFEREUM (SAFEREUM) plummeted by a staggering 90%, leaving investors bewildered.
Blockchain security company CertiK, along with other analysts, has examined the situation closely.
CertiK has noted that the funds has since been distributed through many wallets.
Beyond the actions of the Safereum developers, there are also allegations against influencers who played a role in promoting the project.
Blockchain investigator ZachXBT has specifically pointed out a pseudonymous user known as ProTheDoge for their involvement as an official promoter of the Safereum project.
ZachXBT noted that this was not the first time ProTheDoge has been caught doing little to no due dillegience on what he promotes to his audience.
Users on X has taken to ProTheDoge’s comments to call him out