Kronos DAO, a Klaytn-based DeFi project, is in the liquidation process for allegedly misappropriating 8 billion won of customer funds, while most investors are suing its management.
VEAT law firm accepted the investor’s application on July 8 seeking civil and criminal charges against the Kronos management team.
Earlier news, Kronos DAO misappropriated the user’s DAI pledged in its vault to invest in Kairos Cash, and lost 6 million DAI. The Kronos DAO not only failed to inform its investors in advance, but also shut down communication channels such as Telegram.