DeFi Community Sue Yearn Finance founder Andre Cronje Over EMN Scandal + Fork YFI
We are crowdfunding capital to finance a lawsuit against Andre Cronje, Kirby and Banteg over the EMN scandal on behalf of the victims. If you want to hold them accountable, donate Ethereum (ETH) to 0xa4c8ab63F198bfd5a6a1366ddb5dbDd6D2d7bEF9
100% of every donation will be used to finance the lawsuit. Our crowdfunding campaign will last 30 days, ending on November 9 2020 at 11:59 PM UTC.
If you can’t donate, but still want to help, please share this medium article on social media.
As a way to thank you for your donation, we will take a snapshot at the end of the crowdfunding campaign, and airdrop 50% of the supply of a fork of YFI to donators. The other 50% of the supply will be airdropped to the victims of the EMN scandal. We will create a new DeFi ecosystem, but without the bad actors.
A timeline of events in the EMN scandal
Andre Cronje, founder of Yearn Finance, hyped a surprise launch.
Eminence Finance contracts were deployed by the Yearn Finance deployer, and Andre tweeted and retweeted as liquidity flowed in.
Kirby, head of communications at Yearn Finance, was promoting the contracts even giving instructions on how to mint and buy.
Banteg, the Yearn Finance developer, was selling tokens bought from the contract to Uniswap right until the contracts were hacked.
The hacker drained the entire $15 million that had been locked up in liquidity by using a flash loan exploit. The hacker then returned $8 million to Andre, and was misappropriated.
Andre tweeted, after the hack, that neither Eminence’s contracts nor ecosystem are final, and that he wasn’t planning on releasing the project for at least another three weeks.
If EMN was a test, it had zero value as a token.
Yet Andre watched as $15 million poured in without a word.
But kept hyping the project by retweeting.
Why didn’t he at least warn the Yearn Finance team that they were buying and selling a worthless test token?
If developers from any other team started hyping and selling a test token, they would be accused of fraud and the entire team would lose legitimacy.
At best, this was a viral launch gone bad, at worst, it was a rugpull.
Telegram group: t.me/emninvestigation