Submitted by a netizen Apparently, the Minara team used to be involved in money laundering through NFTGO. After NFTs lost their hype, they couldn’t launder money anymore, so they switched to running pump-and-dump schemes. Evidence of these pump-and-dump schemes was exposed by former employees (Hangzhou-based scam company). Then, when AI started trending, they pivoted and created Minara, claiming it’s an AI project. All the data and users are fake, and even foreigners like @minara are submitting posts saying it’s a scam. Recently, ARC Chain started gaining traction. They bought a ton of promotional campaigns, claiming they received $16 million in funding from Circle and investments from Sequoia China. They even set up a launchpad on ARC Chain @minarafun, but it’s full of scam projects. Heard a lot of KOLs got scammed? Looks like Fangyuan got tricked too.