Socios indicted of crypto price manipulation
Socios
author Alexandre Dreyfus reportedly failed to pay staff in
crypto to maintain the price of Chiliz
By Emma Roth
Streamlined Mar 12, 2022, 605 pm EST
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Alexandre Dreyfus, the CEO and author of addict
commemorative point Socios, has been indicted of withholding
payments in order to maintain the price of Chiliz (CHZ), the
cryptocurrency used by the Socios community, according to a
report from Off the Pitch.
Addict commemoratives are tied to
real- life sports brigades, generators, or artists, and give
token holders access to exclusive addict clubs where they can
bounce on opinions within their community. In Socios’case, the
platform centers around sports, with druggies buying Chiliz to
buy the addict commemoratives representing colorful brigades in
soccer, football, motorsports, and more.
STAFF MEMBERS, WHO
WERE ALSO SUPPOSED TO Admit A PORTION OF THEIR Payment IN
CHILIZ, WERE N’T SO LUCKY
. As reported by Off the Pitch,
Dreyfus allegedly failed to pay some of his counsels an
agreed-upon share of Chiliz in exchange for championing the
cryptocurrency. An unnamed tech superintendent told Off the
Pitch that he only got “ some portion of what was promised,” and
claims Dreyfus started “ avoiding all dispatches with the
counsels” in September 2020.
His reason for not paying out
counsels? An internal communication from Dreyfus viewed by Off
the Pitch indicates Dreyfus did n’t want the value of Chiliz to
tank. “ We also need to cover the investors,” Dreyfus writes in
the screenshotted communication. “ When you give free
commemoratives, people can vend at any price — it does not count
for them.” He also went on to note that the “ real investors”
who bought Chiliz could be losing plutocrat as a result of
counsels dealing off the currency.
The tech superintendent
appertained Off the Pitch to three other counsels who also
allegedly went overdue, and got evidence from one of them. Oddly
enough, that one counsel reached out to Dreyfus formerly again —
the environment of their discussion unknown — and reported back
to Off the Pitch that all four counsels had eventually been paid
in full. It’s unclear if there are still other Chiliz counsels
that remain overdue.
“ We lament that some counsels that have
worked with us in the history weren't paid in a timely manner
and we've remedied this with them directly and maintain good
connections moment,” a Chiliz prophet told Off the Pitch. “ The
agreements were made when the company waspre-start up and at
that time we weren't suitable to award CHZ directly as it was
n’t listed on any exchanges. To be clear, this detention is
inferior and not the way we want to run our business, and falls
short of the norms to which we hold ourselves moment.”
Staff
members, who were also supposed to admit a portion of their
payment in Chiliz, were n’t so lucky. When the value of Chiliz
soared, one hand claims they were unfit to cash in on the$ 10
million allegedly owed by Dreyfus. Chiliz latterly steered in a
new contract to replace the bones preliminarily inked by
workers, performing in a lower allotment of crypto, Off the
Pitch reports. The hand who was owed$ 10 million apparently only
made off with around$ as a result of the new agreement. Another
staff member was reportedly fired after speaking out about the
issue to the press.
Chiliz responded to Off the Pitch’s report
in a post on Medium, stating that it “ does not reflect the
verity of the matter.”