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Web3 Company Rebase Claims Co-Founder Stole $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 Rebase Claims Co-Founder Stole $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

It seems even the digital world is not immune to theft and deceit. Reports have surfaced that co-founder of Web3 company Rebase, Edmond Truong, allegedly stole approximately $2 million in cryptocurrency from their jointly controlled wallet in October. Furthermore, it’s been said that Truong excluded fellow co-founder Krzysztof Gagacki from the company’s operations as well.

What is Web3 Company Rebase?

Before we delve into the alleged theft, let’s first understand what Rebase is. Rebase is a company in the Web3 space that aims to provide the infrastructure for decentralized finance (DeFi) services. They essentially provide a platform for people to easily access and use blockchain technology for financial services such as lending and borrowing.

The NFT Project Bella Hadid

Rebase’s alleged co-founder, Edmond Truong, was also reportedly in charge of the company’s NFT project, Bella Hadid. NFTs, or non-fungible tokens, are digital assets that are unique and verified on the blockchain. These particular NFTs were created to be sold on the marketplace, providing another source of revenue for the company.

Theft and Exclusion

It has been reported that Truong took advantage of his position in the company and excluded Gagacki while he stole the cryptocurrency. The theft also led to Truong initiating negotiations to issue tokens for the Arbitrum network without the knowledge or consent of the other co-founders.

The Impact on Rebase

Given the severity of the theft, it’s no doubt that this will have a significant impact on Rebase. While it’s unclear what actions will be taken against Truong or what his motives were, it is clear that the company will have to navigate through a difficult time. This could mean potential loss of investor trust, delays in development, and damage to the company’s reputation.

Conclusion

The alleged theft and exclusion of a co-founder in the Web3 company Rebase is yet another reminder that no space is completely safe from malicious actors. It’s vital for companies to ensure proper security measures are in place, and co-founders are held accountable for their actions. As with any emerging technology, there will be bumps along the way, but it’s up to those involved to steer the ship in the right direction.

FAQs

Q: What is Rebase?
A: Rebase is a Web3 company that provides the infrastructure for decentralized finance (DeFi) services.
Q: What are NFTs?
A: NFTs are digital assets that are unique and verified on the blockchain.
Q: What impact will the theft have on Rebase?
A: The theft could have a significant impact on Rebase’s reputation, investor trust, and development delays.

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