The Chinese tycoon and investor in the Binance cryptocurrency exchange accused the blockchain project of EOS and its head Dan Larimer of fraud. Chen Weixing said that crypto frauds make the industry unattractive to investors.
Weixin, the head of the application development company Fun City, wrote on the social network Weibo that a number of fraudulent blockchain projects should be checked, and some people should be morally responsible for the misappropriation of property, otherwise a “scam” like EOS and VDS could plunge the crypto industry into chaos.
"EOS is pure fraud, they moved from being nothing in America to become a king in China," - Chen added.
As Chen explained, although EOS is a very innovative project, its representatives make a large number of misleading statements, for example, the “next generation operating system”, allow for price manipulations and non-transparent fundraising.
“If money is God in this world, all those who embezzle the funds raised from the public by telling endless lies would be pardoned. Followers and believers lose their wealth regardless of whether or not it is a bull market – Les Miserables. I have expected too much from the crypto world, and the more I expect, the more disappointed I am,” - Chen said.