Hung Dinh, a famous businessman with many technology products known to the community, is becoming the center of attention on social networks due to fraud allegations related to the GM.AI project.
On the afternoon of September 14, account X with the username @HungDinhScammer shocked the crypto community when it accused Hung Dinh, a famous Vietnamese CEO and businessman, of being behind a $30 million crypto scam through the GM.AI project.
Below are the details of the events related to the alleged fraud in the GM.AI project:
The alleged $30 million scam involving the GM.AI project has caused a huge stir in the crypto community, leading to strong reactions from both investors and industry influencers. Here are the detailed reactions from the community and stakeholders:
The investor community, especially those who Capital in GM.AI’s presale, expressed deep anger and disappointment. Many investors expressed their anger on crypto forums and social media, calling for authorities to intervene and seek compensation.
Many KOLs (Key Opinion Leaders) and famous influencers in the crypto field have spoken out about the incident, which has increased public and media attention to the incident.
After a long period of silence, Hung Dinh, under the account @dexter_cap, suddenly posted a new tweet on September 16, 2024 to apologize and commit to compensate investors of the GM.AI project. This is a response to public pressure and serious fraud allegations that he is facing.
In his tweet, Hung Dinh admitted that the GM.AI project had suffered from a series of management errors, unfavorable deployment timing, and especially a lack of communication with the community. He pledged to take responsibility and provide a specific roadmap to overcome the consequences, ensuring the rights of investors.
Hung Dinh emphasized that all the money raised from investors has been used entirely for project development. He affirmed that he and the project team did not withdraw money for personal gain, and they are still working to complete the products committed to investors.
To increase transparency and rebuild trust, Hung Dinh said that he will transfer all remaining funds from the presale to a public wallet. The transfer time will be specifically announced as soon as the compensation process for investors begins.
He also admitted that community pressure and high expectations made it difficult for the project team to deliver products on time. However, he asserted that allegations that the project took investors' money without doing anything were untrue.
Hung Dinh pledged to come up with a detailed compensation plan for GM.AI investors, which is expected to be announced this Friday. He hopes that this plan will help to partially compensate investors for their losses and restore the community's confidence in the project.
In his tweet, he wrote:
“GM.AI has suffered a chain of mismanagement, bad timing, and most of all, poor communication from the team. Today, we take responsibility and commit to a roadmap to compensate investors.”
“The GM.AI project has no intention of scamming. We will transfer the remaining funds from the presale to a public wallet and start the compensation process as soon as possible. Details of the plan will be announced this Friday.”
Hung Dinh, full name Dinh Viet Hung, is a famous businessman in the technology field in Vietnam. He graduated with a major in International Economics from the Foreign Trade University, Hanoi, and started his career with projects in the field of web design and software development.
One of his first successes was JoomSolutions, a company that provides solutions for the Joomla content management system, attracting many international customers. Hung Dinh then continued his success with the DesignBold project, an online design tool similar to Canva. DesignBold quickly attracted millions of users and became a popular platform in the field of graphic design.
However, when he turned to blockchain, Hung Dinh began to encounter controversy. As the founder of Rada Network, an investment platform and launchpad for GameFi and Metaverse projects, he was associated with a series of failed projects such as The Parallel, DeFi Horse, and Orbitau.
In his personal life, Hung Dinh attracted attention with his rich life and his marriage to a wife 16 years younger than him with a proposal on an airplane. His wife was a beauty queen who competed in the Miss Universe pageant and was in the top 15, and was an MC for VTV.
The crypto community is outraged by the allegations surrounding Hung Dinh’s GM.AI project. This has caused a lot of controversy and significantly affected investors’ confidence in blockchain projects. The community hopes that Hung Dinh will fulfill his commitment to compensate and resolve the issues in a transparent and responsible manner.
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