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Web3 Company Rebase’s NFT Project Bella Hadid: Co-founder Accused of Stealing $2 Million in Cryptocurrency

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According to reports, Web3 company Rebase owns the NFT project Bella Hadid, and co founder Krzysztof Gagacki claimed that another founder, Edmond Truong, stole approximately $2 mil

Web3 Company Rebases NFT Project Bella Hadid: Co-founder Accused of Stealing $2 Million in Cryptocurrency

According to reports, Web3 company Rebase owns the NFT project Bella Hadid, and co founder Krzysztof Gagacki claimed that another founder, Edmond Truong, stole approximately $2 million in cryptocurrency from their jointly controlled wallet in October. It is said that Truong also excluded Gagacki from the company’s operations. Truong initiated negotiations to issue tokens for the Arbitrum network without the knowledge of other co founders.

NFT project Bella Hadid co founders sue for compensation of $77 million

Web3 company Rebase has made headlines recently, as co-founder Krzysztof Gagacki accuses fellow co-founder Edmond Truong of stealing approximately $2 million in cryptocurrency from their jointly controlled wallet in October. The accusations also include Truong excluding Gagacki from Rebase’s operations while initiating negotiations to issue tokens for the Arbitrum network without the knowledge of other co-founders.
The allegations have cast a shadow over Rebase’s NFT project, Bella Hadid, which was gaining traction in the market. This article takes a look at Web3 company Rebase, its NFT project Bella Hadid, the accusations against Truong, and what it means for the company and investors.

What is Web3 Company Rebase?

Rebase is a Web3 company that leverages blockchain technology to create new financial models for the digital economy. The company’s focus is on creating decentralized financial instruments, which can provide the average person with the same opportunities as Wall Street bankers. The company’s aim is to create an ecosystem in which everyone can contribute and benefit equally.

What is Bella Hadid NFT Project?

Bella Hadid is a non-fungible token (NFT) project launched by Rebase. It is named after American fashion model Bella Hadid and features digital art by renowned artists. Bella Hadid has been gaining traction in the NFT market, as collectors see it as a promising project with great potential.

The Accusations Against Edmond Truong

Co-founder Krzysztof Gagacki has accused fellow co-founder Edmond Truong of stealing approximately $2 million in cryptocurrency from their jointly controlled wallet in October 2021. Reports state that Truong initiated negotiations to issue tokens for the Arbitrum network without the knowledge of other co-founders. Furthermore, Truong also excluded Gagacki from Rebase’s operations.

The Impact of the Accusations on Rebase

The accusations have cast a shadow over Rebase’s reputation and its NFT project, Bella Hadid. Investors and collectors may be hesitant to get involved with the company until the accusations are resolved. The allegations could even lead to the company’s collapse, which would be a significant setback for the NFT market as a whole.

Potential Legal Ramifications

If the allegations against Truong are proven to be true, he could face severe consequences. Cryptocurrency theft is a serious crime, and the legal ramifications can be substantial. The case may also raise questions about the security of cryptocurrencies and whether blockchain technology can prevent theft.

Conclusion

The accusations against Edmond Truong have created uncertainty for Rebase, its NFT project Bella Hadid, and its investors. It is unclear how this will affect the NFT market as a whole, but it emphasizes the importance of security and trust in cryptocurrency trading. Only time will tell how this situation unfolds, but it highlights the need for transparency and accountability in the Web3 industry.

FAQs

Q1. What is an NFT?

An NFT (non-fungible token) is a unique digital asset that is verified via blockchain technology. They can be used to represent anything that has value, such as digital artwork or collectibles.

Q2. What is cryptocurrency?

Cryptocurrency is a decentralized digital currency that uses cryptography for security. Its transactions are recorded on a blockchain, a shared public ledger that is highly secure and transparent.

Q3. Who benefits from NFTs?

NFTs benefit creators and collectors alike. Creators can monetize their digital art or other assets, while collectors can own unique digital assets that are highly valuable and desirable.

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