July 23, 2024 – After reviewing the issues surrounding the $MOGUL token launch last week, it was brought to our attention by a partner exchange that two of the launchpads used for IDOs intentionally sold tokens before the refund period. We are saddened and it’s unfortunate that these launchpads did this not only to Mogul but to their loyal investors.
Both Matic Launchpad and Game Launcher launchpads dumped millions of $MOGUL tokens in bad faith to remove liquidity from the market for their own benefit. Despite our attempts to mediate and resolve the issues with these launchpads, they ignored us for days with little to no response.
Below are the transactions confirming this unacceptable and egregious behavior committed by Matic Launchpad and Game Launcher:
Furthermore, Matic Launchpad and Game Launcher were both paid fees for hosting the Mogul IDOs but have not paid out the funds raised via the IDO. For this reason, we had to request that the exchanges suspend withdrawals and deposits of $MOGUL tokens because the launchpads we trusted were dumping tokens when they were not supposed to.
Mogul Productions is deeply disappointed by the actions of these two launchpads and will pursue any possible recourse to hold them accountable. We are saying this to be transparent with not only our community but those who showed genuine interest in our project.
“We are committed to protecting our community and maintaining transparency,” said Matt Gigault, CEO at Mogul Productions. “We took immediate action to try and have them remedy the situation, but they chose not to do that. As a result, we quickly took measures to ensure $MOGUL token holders could not be harmed further.”
We welcome any current or new investors who were affected by this to contact Mogul Productions so we can rectify the injustice you’ve endured at the hands of Matic Launchpad and Game Launcher.
In the meantime, Mogul suggests anyone inclined to do business with either Matic Launchpad or Game Launcher reconsider that decision or do so at their own risk.
These types of actions are the very kind that undermine the crypto industry as a whole, making mass adoption much harder as they diminish trust and cast a dark cloud over the industry. Matic Launchpad and Game Launcher prioritized short-term personal benefits at the expense of others and should be treated accordingly by the broader community and industry.
We will be setting up staking and reward pools very soon for those who are excited about Mogul Productions, along with many exciting options to participate and profit from the entertainment industry.
