Bridge Network's Smear Campaign Hides $780k Siphoning from Investors

A defamatory campaign targeting Dubai-based entrepreneur Danny Oyekan has emerged as a cover for financial misconduct at Bridge Network, a blockchain startup co-founded by Samuel Eke and Kimberly Adams. The allegations, published in an investigative blog piece sponsored by Eke, falsely portrayed Oyekan as a debtor who “vanished” with $40,000 borrowed from a friend. However, the article omits critical context: Oyekan was an investor in Bridge Network through his firm Dan Ventures, not a borrower. This misrepresentation has been condemned as an attempt to divert attention from systemic mismanagement at the startup, which saw over $780,000 in investor funds, including Dan Ventures’ capital, siphoned without documentation or transparency [1].

Bridge Network, launched in 2022, initially attracted interest from industry figures like FTX but quickly unraveled due to infighting and financial recklessness. Internal sources and a 2023 TechCabal report reveal a power struggle between Eke and Adams, the company’s original CEO. By January 2023, Adams had approved a reimbursement to Dan Ventures that would have nearly recouped the investment. However, she was abruptly removed from her role just days later, with no formal record of her involvement in the company’s governance. Eke and an unnamed co-founder subsequently consolidated control, funneling funds through opaque channels while avoiding accountability [1].

The smear campaign against Oyekan intensified as the startup’s instability became public. Digital forensics suggest Eke paid a local blogger in cryptocurrency to amplify defamatory content, framing Oyekan as a fraudster. The article strategically excluded Adams, the legal shareholder and decision-maker, to obscure her role in approving the Dan Ventures reimbursement. Oyekan, meanwhile, has pursued legal action, submitting evidence to regulatory authorities. No charges have been filed against him, and no official statements from law enforcement suggest wrongdoing [1].

The fallout underscores broader issues in the blockchain sector, where accountability often falters in the face of corporate self-preservation. By targeting Oyekan—a vocal advocate for transparency in African fintech—Eke and his allies have exemplified a pattern of deflecting blame onto creditors rather than addressing systemic failures. Oyekan’s decade-long track record, including founding Blockfinex and Dan Ventures, further contrasts with the allegations, which the article has failed to substantiate.

As the crypto industry matures, the Bridge Network saga highlights the urgent need for rigorous journalistic standards and regulatory oversight. Oyekan’s legal approach, combined with growing public scrutiny, has forced the narrative back toward the startup’s actual mismanagement. For now, the focus remains on holding Eke and his co-founder accountable for the financial losses incurred by investors, including Dan Ventures.

Source: [1] [The Real Story Behind the Bridge Network Fallout: How Danny Oyekan Became the Target of a Smear Campaign] [https://coinmarketcap.com/community/articles/6883bde462f2b72c5479b3c3/]