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Eric Adams, former New York Metropolis Mayor, has denied accusations that he benefited from or withdrew cash linked to the lately launched NYC Token.
The digital token, which debuted on January 12, misplaced round 80% of its worth inside its first hour.
This drop led some on-line customers to recommend the mission could possibly be a “rug pull”, and analysts estimated buyers might need misplaced about $3.4 million primarily based on blockchain information.
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Todd Shapiro, Adams’ spokesperson, dismissed the claims on January 14 in a press release shared on X.
He stated, “To be completely clear: Eric Adams didn’t transfer investor funds. Eric Adams didn’t revenue from the launch of the NYC Token. No funds have been faraway from the NYC Token”.
Shapiro added that the allegations have been “false and unsupported by proof” and defined that the token’s fall was on account of “market volatility”, not misconduct.
He additionally emphasised that Adams’ connection to the mission was by no means meant for private or monetary profit.
Nonetheless, his feedback that “no funds have been eliminated” differ from a publish on the NYC Token X account, which stated the workforce had “rebalanced the liquidity” following early demand and later added extra funds to the liquidity pool.
In the meantime, a vulnerability in Truebit’s code enabled an assault that generated about $26 million in new tokens. What did the blockchain safety agency SlowMist say? Learn the total story.
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