Solayer Founder Clarifies: Arunkumar Sugadevan Not Linked to LIBRA

Solayer's founder, Chaofan Shou, has clarified that Arunkumar Sugadevan is not associated with LIBRA, despite earlier reports suggesting a connection. In a social media post, Shou stated, "Arunkumar Sugadevan is not related to LIBRA. They just share the same market maker. I apologize for the misinformation. Arunkumar is located in Germany, while the relevant market maker is in Delhi, and LIBRA is not directly market made by the issuing advisor Kelsier Ventures."

Previously, Shou had claimed that the market maker/creator of the LIBRA token was directly associated with Arunkumar Sugadevan and another Indian serial rug pool scammer. He also alleged that the creator of the LIBRA token was an insider of the MELANIA and ENRON tokens and had laundered over 15 million USD. Shou and Solayer engineer @tonykebot reportedly lost over 2 million USD on LIBRA.

In response to the allegations, KIP Protocol posted on X, stating that the release and market-making of the LIBRA token are entirely the responsibility of KelsierVentures and the project initiator Hayden Davis. The situation surrounding LIBRA and its associations continues to evolve, with more information expected to be announced soon.