As representatives of the liquid staking project say, they do not know the reasons for the arrest of part of the team, and on the basis of which the Chinese police began an investigation. The team is currently looking for experienced lawyers to release their employees from custody.
According to the developers, last week 2.5 million FIL ($22 million) were moved from the platform to an external address, while the main participants in the project have already been arrested by Chinese police.
The team emphasized that the project did not violate the laws of the country and did not engage in financial transactions that could cause the initiation of investigative actions and the arrest of some team members.
Representatives of STFIL asked their community for support in tracking the transferred funds and defending their interests with the PRC police.
Earlier, financial regulators and police in China's Liaoning province urged investors not to participate in initial coin offerings (ICOs) as the activity is considered illegal in the country.
Source: Bits
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