Feb 23
An Important Announcement on Recent Allegations
Earlier this week, a piece started circulating in the crypto community accusing Toby Hoenisch of a series of allegations. While the contents of the article have not been verified, we want the community to know that we take this very seriously. We do not condone hacking of any kind, and are doing everything we can to address it. We can confirm that the Mimo protocol remains unaffected.
The recent article surprised the community and the team here at Mimo. As a result, we have initiated an investigation and are taking necessary actions to ensure Mimo, its people, the protocol, and all associated wallets are unaffected. This has been confirmed to be the case; at no time have any illicit funds or transactions been identified, including the ICO of TenX and any company funds deployed in Mimo.
For nearly one year, Toby has not been actively involved in Mimo. While he’ll always be a founding member, the Mimo protocol, team, and vision have shifted rapidly through its change in leadership and direction in 2020.
Since 2018, we have undergone extensive statutory (financial) audits as well as compliance audits, performed by three of the most prestigious firms in the industry — Crowe, Grant Thornton, and OA International Holdings. All of the company’s audit reports received the highest form of an audit opinion, i.e., unqualified opinion. Such an opinion means that our financial statements are properly drawn up under the provisions of local law (for all the entity’s jurisdictions) and the respective financial reporting standards to give a true and fair view of the financial position of the company and the financial performance, changes in equity and cash flows of the company. Again, at no time have any illicit funds or transactions been identified (which also includes the ICO of TenX as well as any company funds that have been deployed into Mimo).
We’re conducting a new investigation with Elliptic and collaborating with an external blockchain investigation firm as well, and we will share further details as they arise. We have contacted Chainalisys for comments but had no reply so far.
After careful evaluation of the situation from both sides, we have decided to start an internal investigation on Toby using a third-party firm, as we are committed to keeping the trust of our partners and users. We understand that this investigation will be more difficult as Toby has not been involved with Mimo for a while, but see it as necessary nevertheless.
We are taking this opportunity to remind the community that Quantstamp has audited the Mimo protocol and that DeFi provides all users with transparency levels allowing economies to grow in a trustless manner.
We at Mimo are grateful to the community for their continued trust and support and we seek your patience and understanding as we conduct a thorough investigation with the full cooperation of the implicated parties. Funds remain safe, the protocol remains unaffected, and we’re excited to keep bringing sound money, stablecoins, and incredible DeFi experiences to the cryptocurrency ecosystem.
