AzukiDAO Aims to Reclaim 20,000 ETH from Azuki Founder ‘Zagabond’

A bunch of die-hard Azuki fans have come together to form a decentralized autonomous organization (DAO) called AzukiDAO. And guess what? They’ve got a bold proposition up their sleeves—to retrieve a whopping 20,000 Ether (ETH) from the one and only Zagabond, the mastermind behind the prestigious nonfungible token (NFT) brand, Azuki.

This audacious proposal, which was set into motion on July 2, revolves around hiring a lawyer to take legal action against Zagabond, whose real name is Alex Xu. Why, you ask? Well, it turns out Zagabond has been accused of pulling off some shady moves across various projects. The AzukiDAO aims to reclaim a mind-boggling $39 million worth of ETH that Zagabond earned from the controversial launch of Azuki’s “Elementals” NFT collection. The recovered funds would then be channeled back into the DAO to foster the growth of the entire Azuki community. Now that’s what I call a power move!

As of now, a staggering 88.11% of AzukiDAO (BEAN) tokens have thrown their weight behind this gutsy action, while a mere 11.9% have cast their votes against it. The deadline for the proposal looms, set to end precisely at 6:38 am UTC on July 3. Tension is mounting, my friend!

Hold your horses! What exactly is AzukiDAO, you may wonder? Ah, well, here’s the twist. Despite claiming to be composed of original Azuki holders—the OGs—doubts have started to surface about the origins of this DAO and its connection to the Azuki project members.

In a captivating Twitter thread on July 3, a pseudonymous commentator going by the name of Tytan.ETH, with a following of 19,000, dropped a bombshell. He informed his legion of followers that most Azuki holders were completely in the dark about the existence of AzukiDAO. They suspected it might be a case of smoke and mirrors, either a fake entity or worse—a group with malicious intent. Ooh, the plot thickens!

To add fuel to the fire, data from Etherscan—the ultimate detective of the blockchain world—reveals some eyebrow-raising facts. The BEAN token’s contract, used for voting on this proposal, was minted just a couple of days ago. And that’s not all! The associated Twitter page only sprouted into existence in June 2023, and the Discord channel boasts a mere 116 members. It’s hard not to be suspicious, folks!

Naturally, the Cointelegraph reached out to Zagabond for a statement. The Azuki mastermind brushed off AzukiDAO as an enigma—a group shrouded in mystery that doesn’t appear to be the real deal. Talk about an unexpected turn of events!

As for the inquisitive minds digging into this matter, a representative from AzukiDAO responded to Cointelegraph’s barrage of questions with a hint of secrecy. They cryptically stated their preference to keep personal account details under wraps. Hmm, curiouser and curiouser!

Cointelegraph, never one to sit idle, contacted Azuki for their side of the story. However, an immediate response proved elusive. The suspense continues!

Now, let’s dive into the juicy details surrounding

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