According to BlockBeats, on May 9th, Twitter user @nn_blossoms revealed that the Libra fork project, 0L Network, recently enforced a hard fork without adequately informing the community. This action resulted in approximately 4% of the token supply being destroyed, affecting some token holders' wallet assets, with the amount involved reaching seven figures in US dollars.
@nn_blossoms described that the reason for the hard fork by 0L Network was the discovery of a 'heretical' core member who exploited a contract loophole to unlock a large number of tokens in advance. However, the controversy lies in the fact that the project team was aware of this loophole and did not take it seriously or fix it. It was only after the token price soared that the team hastily decided to destroy these 'violating' unlocked tokens through a fork, but it also affected many innocent users who had previously purchased tokens through over-the-counter (OTC) transactions.
@nn_blossoms, as one of the early OTC token purchasers, bought a batch of 0L tokens two years ago for $1.47 million. However, he now faces the treatment of being 'kicked out' by the team. He accused the project team of not providing sufficient information disclosure and compensation plans before the fork, nor giving affected users any chance to appeal, which he deemed highly irresponsible.
In addition, @nn_blossoms questioned the morality and professionalism of the team behind 0L Network, claiming that its leader, 0D, is actually Lucas Geiger, who was once accused of fraud by the U.S. Securities and Exchange Commission (SEC). The 0L Network official has yet to respond to this incident.
