CREAM Finance Reports $1.75M Unpaid Debt from MEV Protocol Partnership
CREAM Finance Reports $1.75M Unpaid Debt from MEV Protocol Partnership
馃捀 MEV Drama Gets Messy
A significant dispute has emerged between CREAM Finance and Fold Finance over a $1.75M debt. The timeline:
- May 2023: Partnership formed to build MEV Protocol
- Oct 2023: MEV Protocol launches with crETH2 to mevETH migration
- Feb 2024: mevAuction system debuts
- April 2024: Rebranding to XGA occurs
- May 2024: Sam Bacha agrees to repay $1.75M within 90 days
Despite formal agreements and multiple follow-ups, the debt remains unpaid. Several prominent investors are impacted, including @mrblocktw and @kevinlin. CREAM Finance maintains IP rights to XGA technology.
We must address a $1.75M debt owed to CREAM Finance & @mevdotio investors by @foldfinance and its founder, Sam Bacha @blockrotator. Despite agreements and follow-ups, they have failed to repay funds tied to a breached partnership. Transparency is necessary for accountability.
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