The protocol said a financial adviser known to the team for five years orchestrated fake OKX Ventures due diligence, forged investment paperwork and adviser-fee collection, and that legal action is now underway.
Dow Protocol said on Aug. 6 that claims OKX Ventures invested in the project are false and that the investor lineup it plans to announce this week will not include OKX Ventures. The protocol said a financial adviser who had known the team for five years created a fake group chat, arranged for people to impersonate OKX Ventures team members, conducted sham due diligence, signed a forged investment agreement and used those materials to collect financial adviser fees from the project. Dow Protocol said it has preserved evidence and is taking legal action against those involved. It has also urged projects to verify identities and investment information through official channels, even when introductions come from long-term partners.