Former CEO and founder of fallen crypto exchange FTX, Sam Bankman-Fried, acquired 2 million worth of raydium. However, the whitepaper stated that the investor tokens should be locked for 1-3 years.
There was an indication that the team tokens were to be locked for more than a year. Moreover, SBF went ahead and sold 80k and sent 1 million $RAY to FTX on the same day.
As per the evidence, Ray had a distribution of 555,000,000 million supply, 34% mining reserve, and 30% partnership and ecosystem. 20% locked for 1-3 years, advisors (locked for 1-3 years), community pool: 6% (locked for 1 year), and liquidity of 1%.
SBF was also allegedly accused of withdrawing the remainder of raydium from the liquidity pools at the absolute top, netting a few million in ETH. He also worked hard with regulators to protect consumers as all of the occasions occurred.
In December, raydium reported being a victim of a liquidity pool exploit. $2 million in financing emerged to have been undermined due to the attack. The Solana-based protocol believed someone might have taken over the exchange’s account.
When a raydium admin account cleared a sizable amount of liquidity from the protocol, questionable activity started in the Solana network; there had been roughly 1,000 transactions that didn’t replace it with the required LP token.
