Libra fork project 0L Network's forced hard fork sparked controversy, with investors accusing it of "confiscating" seven-digit assets without warning

BlockBeats news, on May 9, according to Twitter user @nn_blossoms, the Libra fork project 0L Network team recently forced a hard fork without fully informing the community, resulting in the destruction of about 4% of the token supply, and the wallet assets of some coin holders were also affected, involving an amount of up to 7 figures in US dollars.

According to @nn_blossoms, the reason for the hard fork of 0L Network was that a "rebellious" core member used a contract loophole to unlock a large number of tokens in advance. But the controversy is that the project party has long been aware of this loophole, and did not pay attention to it or fix it at the time. It was not until the token price rose sharply that the team hastily decided to destroy these "illegally" unlocked tokens through a fork, but it also affected many innocent users who had previously purchased tokens through over-the-counter (OTC) transactions in compliance.

@nn_blossoms said that as one of the early OTC buyers, he bought a batch of 0L tokens for $1.47 million two years ago, but now he has been "kicked out" by the team. He accused the project of not providing adequate information disclosure and compensation plans before the fork, and did not give affected users any opportunity to appeal, which was extremely irresponsible.

In addition, @nn_blossoms also questioned the ethics and professionalism of the team behind 0L Network, saying that its leader 0D was actually Lucas Geiger, who was accused of fraud by the U.S. Securities and Exchange Commission (SEC). At present, 0L Network officials have not yet responded to this incident.