The abrupt closure of ICON’s first dApp ($ICX), Blue Whale Foundation ($BWX).
— — -
Disclaimer and Fair Use Notice: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any organization. This article is intended for educational and informational purposes only. All information is provided in good faith, and while every effort is made to ensure accuracy, the author cannot guarantee the information is free from errors or omissions. If any inaccuracies are found, please contact the author for corrections. This article may contain copyrighted material, used under ‘fair use’ for purposes of commentary, criticism, news reporting, teaching, scholarship, or research. For uses beyond fair use, permission from the copyright owner is required. Unwarranted takedown requests undermine free speech and the dissemination of important information.
— — -
I wanted to share my experience and story working for ICON ($ICX) and Blue Whale Foundation ($BWX), and think it’s important that this is shared due to the gross censorship happening across many platforms.
Blue Whale Foundation, a project that appears to have been a rug pull, was endorsed and actively promoted by ICON and it’s council members as ICON’s first dApp to its community members. The council members that served on the advisor team for Blue Whale Foundation weren’t just random ICON employees. Kyungjoon Lee & Jonghyup Kim, the CEO of DAYLI Intelligence and CEO of ICONLOOP/PARAMETA respectively were on Blue Whale’s team of advisors. There has been many sources that have been deleted and removed regarding this topic, but here is one source I found that wasn’t taken down or deleted.
Blue Whale (BWX), which received KRW 23 billion in investment, suddenly suspends business…investors suggest legal action. — May 2022, Korea Politics News
I don’t think we will ever find out if ICON knowingly defrauded members of its own community. If they didn’t, the alternative isn’t much better. If they are going to promote and endorse a project to its community members, and also serve directly on the advisory team for that project and get compensated for it, it is their responsibility and ethical obligation to do their due diligence to ensure that the projects they are associated with and promoting are operating ethically and isn’t just some empty shell of a project.
What we do know is that Blue Whale’s founder, Wonhong ‘Will’ Lee, was sued in the State of California by a former employee of another startup that Will created, Verlocal. Source: https://freemanlaw.com/initial-coin-offering-lawsuits/
There is speculation that Will Lee took the millions of dollars raised from Blue Whale Foundation to help fund another one of his startups, Shareable Assets. Anyone else beginning to see a pattern here?
This medium covering Blue Whale’s abrupt closure is apparently under review. https://medium.com/@truesahistory/the-hidden-story-of-shareable-asset-bluewhale-part-1-between-expedient-and-illegal-c1916397e15
Another article that was also taken down as well: https://medium.com/@pejobi4916/my-coin-investment-failure-experience-shareable-asset-bluewhale-bwx-coin-moral-hazardous-3ac7cc4d4c29
Here is the post that got deleted from the /r/helloicon subreddit: https://www.reddit.com/r/naxypoo/comments/1cxiuur/why_i_do_not_believe_in_the_icon_team_and_the/?
My attempts to share my story and experience on /r/helloicon subreddit, the very community that I essentially created and managed during it’s peak years, were not just squashed and deleted by a moderator that I picked up, but it also got me permanently banned for spreading “FUD”.
This is just a placeholder article since I don’t have time to cover everything right now, but I believe there is a much larger story that is not being told here, and one that is possibly covering up deception, fraud, and/or negligence.
If anyone has any information or would like to share their experience regarding Blue Whale Foundation ($BWX) and ICON Foundation ($ICX) that is relevant to what I am trying to cover, please reach out to me on basically any platform. https://reddit.com/u/naxypoo and https://x.com/naxypoo or https://medium.com/@naxy — preferably contact me via reddit or twitter in the event this gets taken down.
— — — — — — — — — — — — — — — -
Documenting the blatant shilling / censorship of /r/helloicon subreddit.
