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Filecoin Liquid Staking Platform STFIL Claims Team Members Under Investigation by Chinese Police

Tokens on the platform were moved to an "unknown, external address" last week while its team members were under detention

By Jamie Crawley|Edited by Parikshit Mishra

Updated Apr 9, 2024, 9:32 a.m. Published Apr 9, 2024, 9:29 a.m.

magnifying glass, investigation (Shutterstock)

STFIL said that its core technical team is being investigated and that lawyers have been hired to provide assistance.
Tokens on the platform were moved to an unknown address that now holds around $23 million in FIL.

Filecoin liquid staking platform STFIL believes some of its team members are under investigation by the Chinese police.

STFIL, which has just under $40 million total value locked (TVL) on its platform, said that its core technical team are being investigated and that lawyers have been hired to provide assistance to the individuals, according to a post on X on Tuesday.

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Furthermore, tokens on the platform were moved to an "unknown, external address" last week while its team members were under detention. The address in question holds over 2.5 million FIL tokens worth around $23 million.

"We hope that the community can help track this unknown address and discuss ways to protect the interests of stakeholders," STFIL added.

STFIL did not respond to CoinDesk's request for further comment on the matter.

Filecoin Liquid staking China Police Investigations

Jamie Crawley

Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.