Fantom

Sonic Labs

2026-09-16 01:04:39

Michael Kong disputes Sonic Labs statement, says exit was not voluntary

Michael Kong, the former CEO of Sonic, has publicly responded to Sonic Labs’ recent statement announcing the immediate termination of its relationship with him. Kong said the company was still asking him for help on the same day the statement was issued and also expressed concern for his well-being, while the public notice gave no explanation for the move. He said that omission created a false impression that he may have been removed over misconduct. According to Kong, his departure was not voluntary. After more than eight years working across Fantom and Sonic, he said he negotiated and signed a severance and release agreement with Sonic Labs and its affiliates. He added that Sonic Labs repeatedly promised over the past two and a half months to honor that agreement, but is now refusing to do so. Kong also said his existing contractor agreement has not been respected. He argued that the release agreement barred both sides from publicly disparaging each other, and said Sonic Labs chose to make public an issue that should have been handled internally, causing damage. Kong added that he reserves all rights to bring claims against Sonic Labs and its affiliates.

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Andre Cronje

2026-08-13 12:27:44

Andre Cronje says DeFi no longer exists, calling today’s market onchain or open finance

Andre Cronje, the creator of Fantom and founder of Flying Tulip, said on Cointelegraph’s Chain Reaction X Spaces that DeFi, outside of a very small niche, no longer exists. In his view, a protocol only qualifies as true DeFi if it is decentralized, immutable and free of intermediaries, a standard he said very few live systems now meet. Instead, he argued, the sector has shifted into what he calls onchain finance or open finance, where companies, decision-makers, vault curators and risk committees have taken over roles once associated with traditional banking. The report ties that argument to recent market structure and governance data. It notes that curator-led lending vaults now direct capital allocation and risk settings while depositors absorb tail risk, and points to the November 2025 collapse of Stream Finance, which hit three lending platforms and pushed utilization on multiple Morpho and Euler vaults to 100%. It also cites a March 26 working paper from the European Central Bank that found the top 100 governance token holders controlled more than 80% of supply in Aave, MakerDAO, Ampleforth and Uniswap. Separately, DefiLlama data showed DeFi total value locked fell from $167.1 billion on Oct. 8, 2025 to $75.1 billion at the time of writing, a 55% drop over 10 months.

500

Harry Yeh

2026-08-12 06:57:20

Harry Yeh dies in Paraguay fall as police investigate, friend says he was from Kaohsiung

Harry Yeh, founder of Quantum Fintech Group, was found dead after falling from a residential tower in Asunción, Paraguay, in the early hours of Aug. 7, according to local police information cited by ABMedia. Investigators said the case remains at an early stage. Authorities entered the 30th-floor apartment linked to Yeh and found the door open and the interior in disarray, while evidence from that unit and another apartment on the 27th floor was handed to prosecutors. Local reporting also said Yeh’s body was found without clothes, though police have not said whether that detail is directly tied to the cause of death. The case also drew attention because of conflicting descriptions of Yeh’s background. Some overseas reports had referred to him as Chinese or linked him to Hong Kong. In a memorial post, however, Outliers Fund founder Poseidon Ho said Yeh and his parents were from Kaohsiung, Taiwan, and that his family saved money to support his education in the United States. Ho said Yeh studied an electrical engineering-related field at UC Berkeley and later pursued an MBA at Stanford University. ABMedia’s report also reviewed Yeh’s long history in crypto. Quantum Fintech Group said he began researching bitcoin in 2013 when BTC was about $60, entered the market with roughly $500, and launched his first fund at around $250,000 the same year. He later backed projects including Fantom, Tomb Finance, LIF3 and L3USD-related efforts.

2360

Harry Chun Ta

2026-08-10 09:26:09

Harry Chun Tak Yeh’s death casts a harsh light on collapsed crypto projects and an industry in retreat

Police in Asuncion, Paraguay are investigating the death of Harry Chun Tak Yeh, a crypto investor and project founder, after he was found at the base of the Jade Park residential tower in the early hours of Aug. 7. Officers said they later entered an apartment on the 30th floor, where they found an open door and a disordered interior, then collected evidence from apartments on the 27th and 30th floors. No conclusion has been announced. The case has drawn renewed attention to Yeh’s role in a set of crypto ventures including Tomb, LIF3, L3 Reserve and L3USD. According to the source material, Tomb once held more than $1.6 billion at its peak but had fallen to less than $30,000 by Aug. 10, 2026, two days after news of Yeh’s fall became public. LIF3 and L3USD were also described as effectively worthless. The report places the incident inside a broader 2026 crypto downturn marked by more than 100 project closures, bankruptcies or permanent shutdowns, rising hack and scam losses, and an exodus of builders into artificial intelligence. It cites PeckShield data showing about $4.04 billion lost to hacks and scams in 2025, and roughly $972 million stolen from DeFi in the first half of 2026 alone.

2350

Harry Yeh

2026-08-10 05:41:00

Crypto fund founder Harry Yeh dies in Paraguay fall as prosecutors probe accident, suicide, and homicide

Harry Chun Tak Yeh, also known as Harry Yeh and identified in Chinese reports as Ye Junde, was found dead in the early hours of Aug. 7 in Asunción, Paraguay, after an apparent fall from the 30th floor of the Jade Park apartment tower in the Trinidad district. Yeh was the founder and managing partner of Quantum Fintech Group, a crypto investment firm he said oversaw more than $2.4 billion in assets. Police found his body naked and covered with a black plastic bag, while investigators later reported that the door to his 30th-floor apartment was open and the inside had been ransacked. Prosecutor María del Carmen Palazón said authorities are examining three possibilities at the same time: accident, suicide, and homicide. The case has drawn heavy attention in crypto circles because of the scene details and Yeh’s public profile. Community discussion quickly turned to the possibility of a so-called wrench attack, a violent robbery aimed at forcing crypto holders to surrender wallet access, private keys, or funds. Chainalysis said in a report published on Aug. 6 that 46 confirmed wrench attacks against crypto holders were recorded globally in the first half of 2026, with more than $30 million stolen. If attempted transfers and extortion demands are included, year-to-date exposure was close to $107 million. Even so, Paraguayan authorities have not publicly tied Yeh’s death to any suspect or to a specific motive, and the autopsy remains central to the investigation.

6750

Harry Yeh

2026-08-10 05:18:19

Paraguay probes death of crypto investor Harry Yeh, weighing accident, suicide and homicide

Paraguayan authorities are investigating the death of Harry Chun Tak Yeh, the founder and managing partner of Quantum Fintech Group, after he was found dead outside a luxury apartment building in Asuncion in the early hours of Aug. 7, 2026. Prosecutors are examining three possibilities at the same time — accident, suicide, and homicide — and have not released evidence linking any person to the fall. Yeh was initially identified at the scene after police responded to a 4:30 a.m. call involving the Jade Park building in the Trinidad district. Local investigators found details that have drawn attention inside the crypto industry: Yeh was reportedly naked, covered with a black plastic bag, believed to have fallen from the 30th floor, and his apartment door on that floor was open with the interior ransacked. Yeh had long been a visible figure in crypto markets. He publicly described himself as overseeing more than $2.4 billion in assets, said he first bought BTC with $500 in 2013 when bitcoin traded around $60, and later built Binary Financial into what became Quantum Fintech Group. He also became well known through Fantom and Tomb Finance, where total value locked rose from $2.5 million to a peak of $1.6 billion within four months after he took over the team in 2021. The circumstances of his death have triggered discussion around so-called wrench attacks, though prosecutors have not characterized the case that way. A Chainalysis report published on Aug. 6 said 46 confirmed wrench attacks against crypto holders were recorded globally in the first half of 2026, with losses topping $30 million.

2740

Harry Yeh

2026-08-10 04:21:52

Quantum Fintech founder Harry Yeh found dead in Paraguay as prosecutors examine multiple scenarios

Quantum Fintech Group founder and managing partner Harry Chun Tak Yeh, also known online as @harryyeh, was found dead outside the Jade Park apartment tower in the Trinidad district of Asuncion, according to a report published by Paraguayan outlet La Tribuna on Aug. 7, 2026. Police said the initial assessment points to a fall from the building’s 30th floor during the early hours of the previous Tuesday, though authorities have not reached a final conclusion on the cause of death. Investigators said Yeh’s body was found naked and covered with a black plastic bag. A 30th-floor apartment linked to him was later found with its door open and the interior in severe disorder, while forensic teams also examined another apartment on the 27th floor in the same building. His 29-year-old Brazilian girlfriend, who lived on a lower floor, told authorities she knew nothing about the incident. The homicide division and forensic technicians have handed physical evidence to prosecutors, who are reviewing possibilities including an accident, suspected suicide, and homicide. An autopsy is pending. Yeh was a known figure in crypto investment circles, with ties to Quantum Fintech Group, Tomb Finance, LIF3, and L3 Reserve. Public materials described him as an early supporter of the Fantom ecosystem and a seed investor in LIF3 and L3 Reserve. The report also notes that community views on Yeh had become increasingly divided over time, especially around project sustainability and team transparency.

4250

Harry Yeh

2026-08-10 03:40:48

Paraguay probes death of Quantum Fintech founder Harry Yeh after 30th-floor fall

Paraguayan authorities are investigating the death of Harry Chun Tak Yeh, also known as Harry Yeh, the founder and managing partner of Quantum Fintech Group, after he was found dead outside the Jade Park luxury apartment building in Asuncion’s Trinidad district. Local outlet La Tribuna reported the case on Aug. 7, identifying the victim as a Chinese man with ties to several crypto ventures. Police said the fall likely took place early Tuesday local time and that Yeh is believed to have fallen from the building’s 30th floor. Investigators found his body naked and covered with a black plastic bag. A 30th-floor apartment linked to him was later found with the door open and the interior in severe disarray, while forensic teams also collected evidence from another apartment tied to him on the 27th floor. His 29-year-old Brazilian girlfriend, who lived on a lower floor, told authorities she knew nothing about the incident. The homicide division and forensic technicians have handed evidence to prosecutors, who are examining several possibilities at once, including an accident, suspected suicide and homicide. No final official conclusion has been issued, and the body has been sent for autopsy. The report also revisits Yeh’s public profile in crypto, including his roles connected to Tomb Finance, Fantom and LIF3.

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