OpenLibra Project Lead Accused of Scamming in ICO Controversy

OpenLibra Project Lead Accused of Scamming in ICO Controversy

  • OpenLibra co-founder Lucas Geiger is in the midst of controversy stemming from the 2018 Wirelineio ICO.
  • Web3Journal founder Andrew Lee says he invested $1 million into Geiger's Wireline ICO and has not had any update since.

Just a day after the announcement of OpenLibra, a decentralized fork of Facebook’s digital currency libra, the project lead is being accused of past ICO controversy.

OpenLibra co-founder Lucas Geiger first announced the project on Oct. 9, at the Ethereum Foundation’s DevCon 5 conference held in Osaka, Japan. However, Twitter user Andrew Lee was quick to call out Geiger for his previous role in the ICO in 2018, in which Geiger is also a co-founder. 

According to Lee, who is the founder of Web3Journal, he and several friends invested $1 million into Lucas’ Wireline ICO. Despite making the investment, Lee claims he has not heard from Geiger in “months” and that the project's advisor Sizhao Yang made numerous false promises. 

My friends and I invested $1M in Lucas’ @wirelineio ICO in 2018I haven’t heard from Lucas Geiger in monthsLots of false promises made by their advisor @zaoyang - such as @JUN_Omise would lead their marketing, @ethereumecf would be their investor#ICOs— Andrew Lee (@alee) October 9, 2019

Lee went on to post a series of text messages attempting to contact Geiger without reply. The messages say that the Wireline token release was promised for Q2 2018 and that the project would receive an investment from the Ethereum Community Fund (ECF). Due to the lack of communication, Lee is encouraging users not to invest in Geiger’s OpenLibra project. 

I can’t get any response from Lucas. I don’t advise anyone to invest in Open Libra— Andrew Lee (@alee) October 9, 2019

Lee also called out Geiger’s emphasis on open-source for the OpenLibra project, insinuating that he should be more forthcoming about his role in the ICO.

in the spirit of 'open-source', i don't see any problem with open-sourcing reputations and people's track record in this industry— Andrew Lee (@alee) October 9, 2019

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