defidungen

The Past and Present of Polyhedra: Actual Controller CEO Abner Jia, Formerly Involved in Ever Chain and Findora; A “Chinese Theranos” Deceiving Berkeley’s Star Team; Hacked Twice Before TGE, Losing Nearly $10M; Team Dumped Tokens at Launch to Fill Gaps; Planned Another Sell-Off After a Year In the recent ZKJ/KOGE crash, Polyhedra’s CTO @Tiancheng_Xie responded to the community on Twitter. However, the shadow operator behind Polyhedra is actually CEO Abner Jia. Abner Jia, a typical Tsinghua-affiliated crypto entrepreneur, was the founder of Ever Chain and a research scientist at Findora Research Institute. Findora, backed by investors like Polychain, raised over $20M from the Chinese community through public sales. After listing on OKX, the team began cashing out, and the project gradually faded to zero. For more on Findora, see this report: Investigation: Findora’s Massive Public Raise Begins, Stanford Star Suspected as “Chinese Theranos” wublock123.com/index.php?m=co… After Findora, Abner Jia and founder Lily Chao repeated their playbook, launching a Berkeley version of the Findora story: Polyhedra, another heavily funded “Chinese Theranos.” At the time, renowned Berkeley professor Dawn Song @dawnsongtweets , dubbed the “Godmother of Computer Security,” and her students published the seminal zk paper zkBridge: Trustless Cross-chain Bridges Made Practical. Polyhedra’s CTO @Tiancheng_Xie was the lead author, chief scientist Jiaheng Zhang was the second author, and both were Dawn Song’s Berkeley students. Dawn Song was also a co-author. Abner Jia, not a student of Dawn Song, only contributed to the paper. However, he leveraged @Tiancheng_Xie and other Berkeley students, presenting himself as Dawn Song’s protégé to convince VCs like Polychain to back Polyhedra. Professor Song was reportedly furious upon learning this and clarified to some VCs that Abner Jia was not her student, leading some to pass on investing. However, Polyhedra was already in motion, and Song could do little to stop it. This is the origin story of Polyhedra. What followed was its present: a $1B valuation with tens of millions in funding. After securing financing, Abner Jia, alongside advisor Lily Chao, became Polyhedra’s true decision-makers. Jia called the shots on operations, while others handled product, tech, and business development. Before its TGE, Polyhedra suffered two hacks, losing nearly $10M in team LP assets. During the TGE, the team didn’t cash out as planned, partly because it didn’t list on Binance Spot and partly because they dumped tokens at launch to cover the losses. Having not profited enough at TGE, Jia planned for a year and seized the Binance Alpha+Bybit opportunity. I’ll dive deeper in my next tweet.