The founder of SushiSwap spoke out after being accused of being an "exit scam"

The founder of SushiSwap spoke out after being accused of being an "exit scam"

By HenryDo | CRYPTO CAPICAL | 7 Sep 2020

Chef Nomi, the founder and lead developer of SushiSwap, recently transferred a large amount of SUSHI tokens to 37,400 ETH - about 13 million USD, the conversion is done in two transactions.


It is worth mentioning that this SUSHI token was originally intended for the development of the SushiSwap ecosystem, but its founders sold it to transfer to hold ETH.

This action caused a huge drop of SUSHI, causing the price to plunge from $ 9.5 to $ 1.13 in just five days.


Faced with fierce criticism from investors and the DeFi community, Chef Nomi recently stated that:

“People asked me if they wanted‘ exit scam ’. I said no. I'm still here and ready to help with the tech. I will continue to implement ecosystem development plans for SushiSwap ”

"Once again, again, I have no intention of suppressing SUSHI or running away from the project with money."

When asked by investors why they sold off SUSHI and switched to holding ETH, Nomi just said "I don't want to care about the price, I want to focus on expertise"

The above answers do not convince investors but on the contrary, they make them even more angry.

"He is a con man"

SushiSwap's founder, Chef Nomi, is said to have withdrawn 20,039 ETH and 2,558,644 SUSHI from the development fund.

Development funds are funds used to fund future SushiSwap projects.

Spencer Noon, founder of DTCC Capital, was one of the first to discover that Chef Nomi sold off SUSHI tokens to switch to ETH holdings. He said:

“The founder of SushiSwap sold off a large amount of SUSHI to transfer to ETH. Does anyone expect the founder of the project to sell his child ”

Andre Cronje - developer of, criticized Chef Nomi for leaving investors.

“To be frank, you are leaving the project, leaving the investor. Pay back the developers so they have funding to develop the project. I think there is nothing you can do about this project. What you do so far is transfer tokens built on top of the Uniswap protocol ... Pay back the funds. You are not a developer ”

Currently, a lot of people curse and ask Chef Nomi to leave the project completely.

If Nomi doesn't resign, SUSHI could collapse, one investor wrote.

Another investor is more harsh "he deceived the community, only scammers can do such things"

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