Share This Article
Crypto Twitter is buzzing again, and this time the spotlight is on SolChicksNFT — with some pretty uncomfortable questions floating around.
Word on the timeline is that after the $UST collapse back in May, as much as $20 million from the project’s treasury quietly vanished… and the community allegedly had no clue it even happened.
The drama picked up when leaked messages started circulating earlier today, supposedly showing a conversation between CEO William Wu and COO Lewis Grafton — both of whom transitioned over from Catheon Gaming. Screenshots of the exchange spread fast, fueling speculation about what really went on behind the scenes.
Blockchain sleuth ZachXBT added more fuel to the fire, claiming the messages suggest the massive losses were directly tied to the UST implosion. If true, it raises the obvious question everyone is now asking: why wasn’t the community told sooner?
For now, the situation is unfolding in real time — and Crypto Twitter, as usual, is doing what it does best: digging, speculating, and waiting for receipts.
Newly leaked messages between the @SolChicksNFT @CatheonGaming CEO and COO show the project lost up to $20m of treasury funds due to the UST implosion in May 2022 and decided not to inform the community. pic.twitter.com/srzDV19Cpr
— ZachXBT (@zachxbt) November 15, 2022
ZachXBT sought out further information regarding the leaked messages and reached out to Grafton for comment. Concerns began to rise following Grafton’s response, explaining the company had “discussed and disclosed it with our largest private holders.”
“[We] decided that it was in the project’s best interest not to make a public announcement and risk unnecessary concern given that we still have more than 5 years of runway and we have zero leverage.”
ZachXBT voiced his own concern, stating that:
“It’s disturbing they think retail doesn’t need to know and only large investors do.”
He also explained that this response from Grafton contradicted an internal email that had been released by the company detailing “major layoffs.”
Furthermore, ZachXBT explained that SolChicks were featured in a thread he had created in 2021, highlighting concern for “deceptive marketing (undisclosed ads/using bots) and poor management.”
Update: Catheon/Solchicks responded and called me a “bad actor” pic.twitter.com/KqI3nQicIa
— ZachXBT (@zachxbt) November 16, 2022
In the latest update, Catheon Gaming has released a tweet in response to the leaked messages “strongly” condemning bad actors that have leaked “confidential company information to generate publicity,” and has scheduled an AMA for 1 pm UTC on Nov. 16.
