One of the founding fathers of the Union publicly warned the encrypted community that an individual named “Zhu Pan” was suspected of having committed fraud. This statement was soon disseminated in the Chinese encrypted community, soon after X was released, and the platforms and projects were put back at the forefront of public opinion.
CoinUp denies its participation in the operation of the platform
In terms of events, CoinUp stated that Zhu Pan was not a member of the Platform ' s core team and was not within the management structure or the day-to-day operating system. According to the Platform, the individual ' s personal activities, past projects or market hearsays are directly linked to CoinUp, which makes it easier to misjudge the role of the platform in the incident.
However, CoinUp also acknowledges that Zhu Pan is associated with a project already on the platform. The Platform emphasizes, however, that such linkages do not represent its participation in the business of the company and do not mean that it can influence its decision-making.
What do you mean?
Public information indicates that Zhu Pan has little background information and that there is no consistency in the outside world. According to the Chinese media, “Book-Track”, one of the same persons was involved in the ZJLT first-time token distribution project launched in 2018. The project was subsequently challenged by some investors who claimed to have suffered losses as a result and alleged fraud.
It was also mentioned that Zhu Pan had denied being the founder or operator of the project. What further indicates that this person has in the past pretended to be himself and tried to deceive Sun Yam, the founder of the Wave. Sun-woo then made a public statement stating that the description of the incident was correct.
CPX fluctuations give rise to additional concerns
After the event fermented, the market also turned its attention to CoinUp platform token CPX. The coin had previously risen to an historic high above 0.829 dollars, and had since experienced significant fluctuations.
CoinUp attributed the round price variation to market pressure for concentrated sales and indicated that it was investigating the reasons for the fluctuations. Current public information indicates that the Platform ' s response focuses on two main points: first, cutting and Zhu Pan 's operational relationship, and second, explaining the short-term and intense fluctuations in CPX.
From what has been disclosed, the incident, which involves both identity-related allegations, clarification of the Platform ' s relationship with the project party and the extraordinary price volatility of the Platform ' s tokens, is likely to continue to attract community attention in the short term.