MonkeDAO launches probe amid allegations over treasury discrepancies

MonkeDAO, the community behind Solana’s Monkey Business Gen2 NFT collection, has launched an internal investigation following allegations of treasury fund discrepancies.

MonkeDAO, the community that oversees Solana’s NFT collection Monkey Business Gen2, has launched an internal investigation following allegations of discrepancies in treasury funds. The investigation was announced by the DAO’s acting general counsel, Ariel Givner, in an August 7 statement addressing the allegations.

As an expression @MonkeDAOActing general counsel of:

MonkeDAO has been made aware of recent allegations regarding discrepancies in MonkeDAO Validator earnings and funds allocated to the treasury. We take these allegations very seriously and are currently… https://t.co/ivkSw2JpXF

— Ariel Givner, Esq. (@GivnerAriel) August 6, 2024

The investigation was initiated by user X @hankobaggins, who raised concerns about why approximately 586 SOL, approximately half of MonkeDAO validator earnings since December 2023, were not allocated to the treasury, leading to concerns within the community about the management of the funds.

“Our primary goal is to ensure transparency and accountability in our operations. We are committed to providing a detailed explanation and resolving any issues that may arise.”

Ariel Gave

Givner stressed that MonkeDAO takes these allegations “very seriously,” adding that The DAO is committed to transparency and accountability. He added that the organization aims to promptly resolve the issue and provide a detailed explanation of any financial irregularities.

Launched in 2021, MonkeDAO is a community of crypto investors supporting the development of Solana Monkey Business, one of Solana’s pioneering NFT collectibles. Despite the recent incident, Solana Monkey Business NFT holders remain unaffected, with the base price for an NFT increasing by 4% to 21.61 SOL, according to CoinGecko data.