Du Jun's Heco Project Accused of Breach of Contract, Investors Claim Founder Missing
Industry figure @benlinbaofu stated that Du Jun founded Heco as a Huobi partner in 2018 and launched the MdeX project. After receiving significant user investments, he refused to fulfill contractual obligations, including updates on business and financial progress, and subsequently went missing.
Venture capital can accept failures, but cannot tolerate fraudulent behavior where founders abscond with funds.
Source: Public Information
ABAB AI Insight
As a core figure in Huobi's early days, Du Jun promoted ecological projects like Heco. Such accusations reflect the industry's chronic issue of governance failures among project parties after fundraising during the 2018 bull market.
In terms of capital flow, projects attract investments through the partner halo but fail to deliver on information disclosure, with resources potentially diverted to personal control, exacerbating investor losses due to motives and subsequent disappearance.
This is similar to multiple early ICO/project absconding cases and historical controversies within the Huobi ecosystem, currently representing the aftermath of the crypto industry's transition from reckless growth to contractual governance.
Essentially, this is a matter of regulatory changes and capital concentration: breach of contract undermines trust, stemming from a lack of mandatory disclosure and accountability in the early stages, prompting funds to concentrate on leading platforms with contractual spirit and accelerating the industry's focus on personal responsibility of founders.
ABAB News · Cognitive Law
Attracting investment is easy with a halo, but fulfilling contracts is difficult; trust collapses faster than project failures.
Absconding with funds is fraud; the bottom line for venture capital cannot be breached.
Old issues resurfacing; industry maturity relies on accountability rather than forgetfulness.