Oyster Update (10/31)

All,

The last 48 hours have been some of the most challenging times of my personal and professional life. After close to a year of hard work and effort, ‘Bruno Block’ has pushed Oyster into a state of complete chaos. See below for updates on where things stand at this point and responses to any false or misleading allegations Bruno has made.

Bruno’s Theft

As discussed in our prior post, we were confident that Bruno was acting alone during his minting and subsequent theft of at least $300k USD of PRL investor funds. He confirmed this in the former Oyster Protocol Telegram last night:

Bruno’s Rant in Telegram
My Conversation w/ Bruno Post-Rant (Part 1/4)
My Conversation w/ Bruno Post-Rant (Part 2/4)
My Conversation w/ Bruno Post-Rant (Part 3/4)
My Conversation w/ Bruno Post-Rant (Part 4/4)

Our Takeaways

I’ll cover some of the allegations made here in further detail below, but the key takeaways at this point are the following:

  1. Bruno admitted to his role in yesterday’s criminal act and subsequent theft of over $300k of PRL investor funds via exchanges
  2. Bruno, 100% sole owner of Oyster Protocol Inc. has fired me along with the entire team from the legacy Oyster project (PRL)
  3. Bruno’s actions, as per his own statements, were intended only for his own financial well-being: at the cost of all other project members and tokenholders. Bruno even confirmed this was a motive for founding a project; which contradicts his claims of continuing the project.
  4. Bruno somehow believes, or claims to believe, that he is righteous in his actions and that everyone deserved to lose money from this project based on his “Greater Fool / Ponzi” theory. Whether or not this is a true belief or facade to claim insanity is unclear.

Next Steps

We are in the process of filing law enforcement reports, working with our attorney and have hired a private investigator. While we are eager to prove further vindication of our team, we are being advised by these parties to not reveal any confidential details of this ongoing investigation, as this may complicate and extend the duration of that investigation. Bruno’s actions are being investigated by some of the best in the industry, whom have identified and brought to justice bad actors that executed their crimes in far more sophisticated methodologies. Investigations do take time, as do any efforts involving the legal system and government/law enforcement, so while a play-by-play of the investigation won’t be given, we’re confident in stating Bruno will be held accountable and that PRL2 will be pushing forward with fervor.

The most contentious point regarding the investigation, based upon community feedback, is around Bruno’s identity. Yes, we are confident that we have Bruno’s true identity (and no, it is not a person named Vit Vrba). I am confident that at the right time, these details will emerge, but at this point we are not in a position where revealing that information will do any good. Despite Bruno’s horrific actions over the last 48 hours, we wish him no physical harm and will not be supportive of any doxxing efforts within or outside of our community. Bruno will eventually pay for his actions but that will happen as the legal process properly plays out, not through vigilante justice.

In regards to next steps for “New Oyster”, the team (all PRL team members with the exception of Bruno) will fork PRL into PRL2/PEARL (placeholder name). This new token will be held by a separate corporate entity and will have zero ties to Oyster Protocol Inc. (the company held by Bruno’s blind trust). More details to come on this as they are finalized in the coming days.

Rebuttals to Bruno’s Allegations

Bruno has made a number of claims here that deserve a further response. Let me cover each one in detail.

Potential Listing on Binance

I am unable to confirm or deny any such listing at this point in time in the interest of our relationship with the exchange.

Insider Trading

Speaking hypothetically, if we were aware of a potential listing on a major exchange, our team would not trade on this information. We do allow our staff to take their pay in either ETH or PRL, so PRL can be accrued in that fashion, but we would never advocate front-running a major catalyst like this. Bruno can string various messages without context together to imply otherwise but this is patently false.

Summary

This is a difficult time for all involved with the project. We are interested in carrying all of this forward and will do our best to move on from this. In the best interest of the project moving forward, we will look to avoid acknowledging or dealing with Bruno Block or his allegations in any way, shape or form to let these criminal (and potentially civil) cases run their course. Given his brazen and reckless actions that severely deteriorated the progress and reputation of the broader project, we will not give him a further spotlight to try and undermine our further progress.

To continue the discussion on the rebirth of PRL in its new form, you can find us on our new Telegram Channel