Aqua1 Foundation has come under scrutiny following an investigation revealing possible ties to Web3Port. In response to these accusations, founder Dave Lee asserted the independence of his organization.
Jacob Silverman's Investigation
Journalist Jacob Silverman published an investigation on Monday claiming that Aqua1 Foundation has connections to Web3Port through shared web hosting and overlapping personnel. He also reported that Aqua1's founder, known on social media as Dave Lee, is actually David Li, who has worked with Web3Port.
Aqua1's Response to Allegations
Aqua1 issued a statement on X claiming that it "operates independently" and has no financial or operational ties to "unrelated entities." However, this statement did not provide a direct denial of ties to Web3Port, leaving key questions unanswered.
Future of Aqua1 and Its Transparency
The escalating situation surrounding Aqua1 raises concerns about its transparency and legitimacy. While Lee's explanation that the shared IP address was due to transitional hosting offers some context, it does not clarify his identity or the true nature of Aqua1.
Unless Aqua1 provides clear answers about its leadership and affiliations, media and investor scrutiny is unlikely to subside.
