ParaSpace team clashes with CEO over alleged whereabouts of protocol funds
Protocol developers demand that CEO and CTO Yubo Ruan step down, while Ruan has accused the development team of an "illegal takeover." On May 10, nonfungible tokens (NFT) financialization protocol ParaSpace published several allege d irregularities tying its CEO, founder, and CTO Yubo Ruan to the mismanagement of funds equaling 2,909 Ether (ETH) recovered through a white-hat interception that occurred on March 18. Ruan denied any wrongdoing, writing: "manufacturing claims with the intent to take over and force me to step down as CEO. This is highly problematic and the legal team has taken action." Dear ParaSpace Community, TL;DR: There have been no malicious acts from the team. All funds are safe from Yubo, the protocol is under the full control of the team, and we have the financial means to ensure the stability of the platform. Today, we are sharing information brought… pic.twitter.com/58M3U1uLwv — ParaSpace (@ParaSpace_NFT) May 10, 2023 On or around March ...