Yescoin Founder Detained Amid Dispute Stocks Plunge

Zhang Chi, also known as Zoroo, the founder of Yescoin, a mini-game project within the Telegram Open Network ecosystem, was detained by Shanghai police. This detention followed a business dispute with his partner, identified as Wang Mouxin or ‘OldWang.’ The disagreement, initially a civil matter, has escalated into a criminal case, raising concerns within the Yescoin community. Yescoin operates within the TON ecosystem, integrating blockchain technology with gaming to offer users a decentralized platform for mini-games. The project has garnered attention for its innovative approach to combining gaming with blockchain, attracting a diverse user base interested in both sectors.

The internal dispute between Zhang Chi and his partner Wang has cast a shadow over the project’s future. The Yescoin team addressed the situation on their official X account, stating that what began as a business agreement between partners has now escalated into a criminal case. They expressed regret over the incident, acknowledging its potential to undermine community consensus and peace, and conveyed their sadness over the disruption caused. Despite Zhang’s detention, the Yescoin team has assured users that the platform continues to operate normally. They remain committed to maintaining platform stability and upholding community trust.

Zhang Chi is still a student at Zhejiang University, according to the project's Chinese-language statement. The conflict involves Zhang and his business partner Wang, and the situation has now escalated into legal action. The Yescoin community has reacted negatively to the news, with many users questioning the project’s integrity and speculating about the nature of the dispute. Some investors have also expressed panic and disbelief upon learning that the project’s core team is based in Mainland China, where crypto is strictly regulated despite its overseas market focus.

The incident raises broader concerns about leadership transparency and governance in crypto projects, especially those operating in jurisdictions with strict regulations. Investors often rely on trust in project teams, but unexpected legal issues can shake confidence and lead to increased scrutiny of how projects are structured and managed. While many crypto initiatives promote decentralized governance, the reality is that most still rely on central figures for decision-making and operations. When these figures face legal trouble or disputes, projects can be thrown into uncertainty.

Legal disputes involving key figures in a project can create uncertainty, affecting investor trust, market sentiment, and future funding opportunities. In decentralized finance (DeFi) and web3 projects, strong governance structures and transparent leadership can help mitigate risks associated with centralized decision-making and legal entanglements