Liquid Capital founder Yi Lihua said on X that some crypto projects lack what he described as basic contractual integrity, pointing to cases in which users were allegedly unable to withdraw BTC after depositing it, investors had tokens deducted at will, and parties were pressured to revise agreed terms. He said such conduct poses reputational risk across the board for venture capital firms, key opinion leaders, and secondary-market investors. Yi added that exchanges should treat project credibility as a core review factor when assessing listings or other cooperation. He also drew a comparison with traditional equity markets, saying companies involved in fraud typically face penalties or delisting rules. The remarks were reported by Odaily in a short news update.
According to Odaily, Liquid Capital founder Yi Lihua said in a post on X that many projects lack contractual integrity.
He cited cases in which users deposited BTC but were not allowed to withdraw it, investors had tokens deducted at will, and parties were forced to revise terms. He wrote that this behavior is "no different from robbery" and creates reputational risk for VC firms, KOLs, and secondary-market investors alike.
Yi said he strongly recommends that exchanges include project credibility among their key review metrics. He also said that in traditional stock markets, companies involved in fraud usually face penalties or delisting rules.
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