The web3 company Syntropy suffered the loss of 15 million of their $NOIA tokens when they attempted to transfer them to a venture capital firm, but instead they ended up with a thief. In a Twitter statement, the company claims that they had reached an agreement with a venture capital firm to invest in Syntropy, and sent the agreed number of tokens to an escrow agent to complete the deal. However, they say, « it became apparent that the buyer’s identity had been compromised. The malicious actor convinced the escrow agent into releasing the tokens to the impersonating party. » 15 million $NOIA tokens (notionally worth around $825,000) were stolen, and the $NOIA price crashed from around $0.055 to around $0.037. According to Syntropy, Kucoin froze the accounts holding the stolen funds.
Some supporters of Syntropy have questioned the team’s decision to take a deal like this from a VC firm after the firm claimed to be fully funded, and without communicating with the community. Others questioned how the deal could have possibly gone so wrong in the way Syntropy claimed.