Dohrnii Labs accuses Blynex of illegally liquidating tokens without authorization

From Cointelegraph
March 24, 2025 5:17 AM:

Dohrnii Labs accuses Blynex of liquidating $500,000 worth of tokens without authorization and not delivering promised loan. Attempts to withdraw remaining tokens unsuccessful. Blynex claims automated risk management system detected high risk in collateral. Dohrnii threatens legal action and files police report in UAE for accountability and regulatory oversight.

Blynex co-founder attributes incident to automated risk management. Tokens sold generated less than original amount due to liquidity constraints. Dohrnii disputes explanation, claims collateral worth double loan was liquidated. Dohrnii seeks legal action and regulatory involvement for accountability.

Dohrnii Labs rejects Blynex’s settlement offer of 80,000 USDT and 4,000 DHN tokens in exchange for dropping legal action. Dohrnii insists on withdrawing user deposits without condition. Legal action threatened if Blynex does not comply. Magazine feature on Asia’s cryptocurrency landscape included.

Read more at Cointelegraph: Dohrnii Labs accuses Blynex of illegally liquidating token assets