Whistleblower Exposes 0L Network's Unethical Behavior And Exploitation of Contract Bug

The 0L Network, also known as $LIBRA, has recently conducted a hard fork that has resulted in significant financial losses for investors. The fork, initiated in response to a "rogue core" member, eliminated 4% of the total token supply and burned the wallets of investors, including those who had purchased tokens nearly two years ago.

At the core of the problem is a contract bug that allowed insiders to unlock vested tokens more quickly by distributing them across multiple wallets. The 0L Network team, aware of this loophole for years, chose to overlook it when the tokens were of little value. However, as the tokens gained value, the team decided to take action, leaving many OTC buyers who had purchased tokens in good faith to bear the brunt of the team's oversight.

A whistleblower, a former contributor to the 0L Network known as @nn_blossoms on Twitter, has come forward to share their experience with the team's behavior. They reveal that the team, led by an anonymous head developer known as 0D, controlled information during AMA sessions and required approval for "public" proposals before they could be posted on Discord.

In February 2023, @nn_blossoms purchased 147 million 0L tokens, worth approximately $1.47 million at the time of the fork, from six different validators. Despite assurances from the team that OTC buyers would be unaffected by the fork, @nn_blossoms found their wallet on the blacklist, which was generated internally by an algorithm designed by a team member who had also exploited the loophole.

The justification for forking out @nn_blossoms' tokens was that their wallet had been onboarded by a wallet linked to Nima, a former core contributor. However, most users were onboarded randomly by providing their wallet address in the project's Discord, unaware of who had onboarded them or the existence of the exploit.

When @nn_blossoms tried to contact the team, they were met with resistance and told there was no room for discussion. Victims of the fork were directed to a Telegram chat monitored by insiders, and those who spoke out were silenced and removed from the project's Discord.

Further investigation into the anonymous head developer, 0D, suggests that he is likely Lucas Geiger, an individual previously charged by the SEC for fraudulent behavior. This revelation raises serious doubts about the 0L Network's integrity and leadership.

The 0L Network's mishandling of this situation has left investors feeling betrayed and helpless, with many suffering substantial financial losses due to the team's lack of transparency and accountability. As the crypto community comes to terms with this news, it underscores the importance of thorough due diligence and the potential risks associated with investing in projects led by individuals with questionable track records.

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