Ran Neu Ner Writes An Open Letter To The Block About Fraud In The Crypto World

Ran Neu Ner, CEO of Onchain Capital, wrote an open letter to the crypto-based news site The Block and analysts Larry Cermak and Mike Dudas. He started by saying that the team behind The Block could have uncovered a story that might have very important effects on the crypto community as a whole.

Larry Cermak wrote a thread on Twitter in which they tell how Ran Neu Ner was involved in a fraudulent scheme with investors.

Cermak explained that scams on investors and employees that were working in the crypto space have been scammed by a recognized figure, which was Ran Neu Ner, as per Mr. Cermak.

Larry Cermak uploaded these tweet a few days ago but deleted them later in order to avoid further problems related to damages and defamation. However, there are many screenshots that are going around the internet and several articles published on the matter.

In the article written in a blog post by Ran Neu Ner, he says that there were several inaccuracies in the tweets written by the crypto analyst. He mentioned that there are several allegations made by Cermak that were totally false. Some of them are the following:

He invested $1.3 million in the project

These are just a few examples of the allegations that Ran Neu Ner claims that are not real. Indeed, he says that they are totally false.

Ran Neu Ner complains in this blog post that the analysts did not contact him until 6 hours before publishing the report, something in which they have been working for several months. Additionally, he explains that he has a different time zone and that this complicated the things to receive an answer at the correct moment.

In this article, Ran Neu Ner says that the actions taken by Cermak, Dudas and The Block will cost them a lawsuit once all the damages have been taken into account. After explaining this, Neu Ner decided to clarify some positions made by the analysts.

Cermak and the team at The Block explained that BCT is a fraudulent company that raised and spent around $31 million and issued a utility token that was not possible to be traded.

Ran Neu Ner says that there were several advisors on the project but the team decided just to select him as if he were the only individual involved.

“You elected to place emphasis solely on one specific person who was an investor/advisor like many others and who has lost a lot of money in this,” Ran Neu Ner wrote.

Ran Neu Ner continues explaining that he was introduced to this project back in January 2018 by its head Bob Bonomo. Additionally, he said that he featured it alongside several other projects on his Miami segment.

Furthermore, he committed to a $350 SAFT in the project, not $950 of investors funds as The Block reported. Moreover, he advised the company as an independent contractor. He has also accepted to distribute their terminal screens to crypto traders. It is also important to mark that his position was fully disclosed on his voluntary disclosure site.

Cermak and Dudas have deleted all the tweets related to that story. This could mean that the accusations made by these analysts could not be correct. This situation only discredits their research.

Ran Neun Ner also says to them that having a cryptocurrency news site implies to produce good quality content to attract readers rather than just creating defamatory articles.

Nevertheless, Mr. Neu Ner insists in the fact that were other investors and advisors involved in the company even more than what he was. In addition to it, Ran Neu Ner says that he has been contacted by other journalists in other news sites and were able to receive an answer as soon as possible. He asks why Cermak, Dudas and The Block did not insist or search other ways to contact him.

Ran Neu Ner has also published a screenshot in which Mike Dudas accepts that he is new to this world and is still learning about what is an acceptable behavior.

Mike Dudas answered:

“I am admittedly new to the world of financial news – so learning what is viewed as acceptable behavior. Appreciate you taking the time to spell it out. I’ve deleted all my old tweets related to the matter.”

He has also mentioned that Cermak has defamed him and that some other individuals were threatening him. This is why Ran Neu Ner is currently dealing with an extortion case that was reported to the FBI.

Furthermore, he explains that although he has no obligation to do it, he is one of the only high profile individuals in crypto that voluntarily disclosed all his positions.

He finishes the blog post saying that good businesses are built on strong ethical foundations rather than smear campaigns on Twitter to receive new readers. For Ran Neu Ner, The Block is trying to build its viewership and increase the number of readers in a bear market that has affected the whole industry.

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