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>>Edel Finance Token Scandal: Insiders Secure 30% Share Despite Fair‑Launch Commitment

Edel Finance Token Scandal: Insiders Secure 30% Share Despite Fair‑Launch Commitment

crypthub

about 3 hours ago

Controversy Overview

Analysts found that the Edel Finance team secured over 30% of the EDEL token supply immediately after launch. The project had marketed a “fair launch” with limited insider allocation. This large, undisclosed purchase has alarmed investors who expected an equitable distribution.

Tokenomics Discrepancy

Edel Finance’s published tokenomics promised only 12.7% for the team and clear vesting schedules. The actual acquisition more than doubled that promised share. The mismatch between public statements and on‑chain activity fuels the current controversy.

Team’s Response

Co‑founder James Sherbon acknowledged the holdings but said they were intended for a 60% vesting contract. Critics note the plan was never announced and contradicts the original tokenomics. Obscured transaction details have failed to reassure the community.

Implications for Investors

The incident highlights the risk of relying solely on project whitepapers. Investors are urged to conduct on‑chain analysis and verify team claims before committing funds. Transparency and consistent communication are essential to maintain trust in crypto projects.