Jai Sahu
During this challenging time, FIL tokens valued at approximately $23 million have disappeared to an undisclosed external address.
STFIL, a primary liquid staking platform for Filecoin (FIL), is embroiled in controversy as its core technical team undergoes investigation by local Chinese authorities. Legal assistance has been sought to support the team members currently in custody.
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.
Last week, when the core technical team…
— STFIL Protocol 🏔️ (@stfil_io) April 9, 2024
According to an official statement by STFIL, while the core technical team remains detained, FIL tokens from the platform were moved to an “unknown, external address.” This action has raised concerns within the community due to the significant sum involved. Around 2.5 million FIL tokens, worth about $23 million, have been transferred to this undisclosed destination.
In light of these unsettling events, STFIL has reached out to the community for assistance in tracking the unknown address and exploring measures to protect stakeholders’ interests.
STFIL’s Role in the Filecoin Ecosystem
STFIL occupies a crucial position as the second-largest protocol in the Filecoin ecosystem in terms of total value locked, following closely behind GLIF.
With a total value locked (TVL) of nearly $40 million, STFIL has been a prominent participant in the Filecoin ecosystem since its establishment.
Its liquid staking protocol, launched in 2023, has enabled FIL token holders to earn returns while engaging in staking activities. Nonetheless, recent developments have prompted concerns regarding the platform’s future.