Fetch.ai, Ocean Protocol clash over multisig OCEAN to FET transfers

On-chain data and public statements from project leaders have set off a dispute between two members of a pooled artificial intelligence token alliance after a large conversion and subsequent transfers of tokens were traced to exchange accounts. Blockchain analytics firm Bubblemaps reported that an Ocean Protocol multisignature wallet converted 661 million OCEAN tokens into 286 million FET on July 1, and that roughly 270 million of those FET tokens later moved to centralized exchanges and over-the-counter trading desks, including transfers identified to Binance and GSR Markets. The movements have drawn scrutiny from Fetch.ai leadership and prompted denials and legal responses from Ocean Protocol.

Fetch.ai Chief Executive Humayun Sheikh has publicly accused Ocean Protocol of converting and transferring alliance-linked tokens without adequate disclosure and of diverting funds intended for community incentives. Sheikh posted on X offering a 250,000 bounty for information identifying the signers of the OceanDAO multisignature wallet and said, Funds intended for the community were diverted. He has also said he will fund class-action litigation across multiple jurisdictions and called...