Crypto▼ Bearish
FOMO Co-Founder Calls $6M Loss Claim 'Paid Fud'
FOMO co-founder Prashan Dharmasena rejected allegations that an iOS update drained wallets, calling the claims paid disinformation. The dispute hinges on whether the 662 SOL transfer was authorized by the wallet holder.
Continue with
FOMO, a Solana-based crypto trading app that raised $75 million in Series B funding at a $550 million valuation, is pushing back against allegations that one of its iOS updates drained user wallets.
An X account called Derivatives_Ape posted on Aug. 23 that a recent FOMO iOS update caused total losses of roughly $6 million. The account cited a friend who allegedly lost 662 SOL, about $62,000, after opening the app. A screenshot of the transaction was included.
Prashan Dharmasena, FOMO's co-founder, rejected the claim. "It's crazy that people can come into this app and blatantly lie," he said. Dharmasena pointed out that the wallet in question has no transactions signed by FOMO's fee payer. He said he gave the same response to at least two other complainants and called the situation "paid fud" – coordinated disinformation with a financial motive.
The accuser's own credibility has become part of the story. Forensic investigator ZachXBT identified Derivatives_Ape as a co-founder of ZKasino, a blockchain project accused of stealing $30 million in investor funds. According to ZachXBT, the account is controlled by Ildar Elham, not the named figure Elham Nourzai.