Chinese police are investigating the Filecoin-based STFIL protocol, and part of the technical team is in custody. This was stated by representatives of the project.
The reason for the investigation is unknown. The team is looking for lawyers to release their colleagues.
They also said that 2.5 million FIL ($22 million) from their platform was moved to an external address last week, while key members of the technical team were in custody.
"The assets were transferred against the background of unscheduled abnormal protocol updates," the project representatives added.
The STFIL team asked the community for help tracking funds and protecting their interests.
At the time of writing, the STFIL protocol's TVL is $39.5 million, down almost 60% since the beginning of April, according to DeFi Llama.
The reason for the investigation is unknown. The team is looking for lawyers to release their colleagues.
They also said that 2.5 million FIL ($22 million) from their platform was moved to an external address last week, while key members of the technical team were in custody.
"The assets were transferred against the background of unscheduled abnormal protocol updates," the project representatives added.
The STFIL team asked the community for help tracking funds and protecting their interests.
At the time of writing, the STFIL protocol's TVL is $39.5 million, down almost 60% since the beginning of April, according to DeFi Llama.
