Theft of funds from the wallet of the Free TON community by a partner company MerkleTree.capital

Theft of funds from the wallet of the Free TON community by a partner company MerkleTree.capital

At the 61 community MeetUp, extremely unpleasant news was announced: our partners stole approximately 128.000 TON Crystal from the Free TON wallet.

What was the initial proposal of the partners?

A partnership proposal with Merkletree.capital was made in November 2020. Merkletree.capital is a cryptocurrency hedge fund whose activities take place in the field of cross-border cryptocurrency payments services on the African continent.

According to the proposal, the fund was supposed to create a storage solution, a wallet with an exchange function and a payment platform for TON Crystal. It is important to note once again that Merkletree.capital's activities are focused on the African market.

The reaction of the community was mixed, some users called the proposal dubious, but the proposal was not without support. In the end, the proposal was approved.

What happened in the end?

The partnership did not produce any results. Representatives of the fund said that it took a lot of time to implement their proposal. They made a large number of promises, and in the end they stopped communicating with the community when the tokens were already in their hands.

The situation certainly does not cause positive emotions, but we hope that this experience will not be repeated. In the meantime, the community has to spread news about the scam so that in the cryptocurrency world Merkletree.capital will become known as a fund in which attackers work.

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