The external crypto wallet holding the Filecoin tokens had a total of 2.5 million FIL, worth about $23 million.
Liquid staking protocol STFIL claimed in a post that the FIL tokens on its platform moved to an external address following an investigation by Chinese authorities.
Filecoin liquid staking protocol STFIL claims that there have been token movements and unexplainable protocol upgrades following an investigation of their team members by the Chinese police.“We believe that the STFIL core technical team is under investigation by local Chinese police, and we understand lawyers have been hired to understand the current situation and provide legal assistance to the individuals under detention.
The staking platform said they are seeking assistance and urged the community to help monitor the address that received the tokens. “We hope that the community can help track this unknown address and discuss ways to protect the interests of stakeholders,” it wrote.Community members on X claiming to have staked their FIL tokens on the platform have been discussing how they could recover their funds. Some have questioned how the police can take their funds.
This is not the first time Chinese authorities have cracked down on crypto projects. In 2023, cross-chain protocol Multichain announced that it was This happened after its CEO and co-founder, Zhaojun He, was taken into custody by Chinese police. With information scarce, the project had no choice but to wind down activities.Bitcoin ETFs see surprise $200M outflow — Will the new $69K support hold?Bitcoin's halving won't see a 600% return this year — so adjust your strategy
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