PANews, November 17 news, trader CBB posted on X stating that after investigation, it is still “unclear where the funds or Collateral of GAIB actually went,” and pointed out that the GAIB official website has removed the transparency page link, while 75% (about $150 million) of the reserve assets have no third-party verification.
In response, GAIB CEO Kony stated that the accusations are “inaccurate and cause panic,” and provided several clarifications:
Withdrawals to stablecoins are carried out normally every day, and all previous withdrawal commitments have been fulfilled on time;
AID Alpha → During the AID migration period, AIDa holders who have not migrated can withdraw freely;
The transparency page is being rebuilt for the mainnet AID, and it is not being removed due to reserve issues;
All AID / sAID users have received advance disclosures, including withdrawal times, capital transition arrangements, and the launch nodes for the transparency module;
On November 21, the complete reserve proof and AID→USDC redemption mechanism will be launched.
Kony also hinted that CBB has a close relationship with competitors, and the related accusations are “more like a strategic attack.”
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