ZachXBT: Catheon Gaming did not disclose to the community the $20 million treasury loss from the UST collapse

ChainCatcher news, on-chain detective ZachXBT tweeted that, according to newly leaked information between the CEO and COO of Catheon Gaming, the developer of the P2E game SolChicks on Solana, the project lost up to $20 million in treasury funds due to the UST collapse in May 2022, but decided not to inform the community. Additionally, ZachXBT checked the ETH address of Solchicks Saft and found that the other party seemingly did not keep the funds in a multi-signature wallet.

The COO of Catheon Gaming responded by stating, "Regarding UST, we discussed and disclosed this issue with the largest private holders. However, for the best interest of the project, we chose not to publicly announce it to avoid unnecessary risks, and we do not have leverage." (source link)