OlympusDAO Co-Founder Alleged to Cheat Early Investor out of Nearly Four Million $OHM

Australian investor Jason Liang has filed a lawsuit in the U.S. District Court for Connecticut, alleging that OlympusDAO co-founders cheated him out of nearly four million $OHM, which are worth at least $20 million now. Jason Liang said that previously he agreed to pay $50,000 in $DAI in exchange for four million $pOHM in a private funding agreement with Olympus. According to an early Olympus post, investors like Liang were later able to mint 1 $OHM in exchange for $1 DAI and $1 pOHM. But Olympus team rendered smart contracts inoperable, enabling Liang to redeem $pOHM for $OHM. Olympus team was also alleged to use pseudonymity to protect its members from liability. The Token purchase agreement(TPA) between Liang and Olympus showed that the fund raised would go to a company that didn't actually exist. Liang said Olympus team were intended to make it difficult for investors to take legal actions.