Our Statement on the Nezer Situation

To the Niubiswap Community,

As you have seen in previous updates, we have been working to get a straight answer from Nezer about how liquidity was drained and why no one on the team will respond or own up to what has happened.

https://www.bscscan.com/tx/0xe10473f8ac9565528f0878a444aa926bbb04c6edeb031a804baa83abe7a6ab2a

With that being said, after days and hours of patience in waiting for an explanation and solution to the problem at hand, it is now safe to assume that whomever providing the KYC information for review to a trusted third party took off and ran with the liquidity provided for the launch of the token, along with other monies that were raised for the INO. Total raised on Nezer portion was 35 BNB minus fees. The token lost is not the big issue, more so the damaging effect it had on Niubiswap community.

The user who was working together with the team on behalf of Nezer uses the following Telegram tag:

@nezer_alex

We would recommend avoiding all contact and protect yourself if approached by this person. The user in question was in a Telegram chat called Niubiswap / Nezer where the team for NIU and Alex from Nezer discussed the partnership together in full detail. Later on after non communication Alex had notified in Nezer group , not in our partnership groups about their main dev getting sick with covid and needed to hire freelancer and the freelancer drained the liquidity.

The user under the handle @nezer_alex also provided the following information to a third party KYC platform called BlockPass.org that has a positive reputation. We have also emailed their support in trying to find the culprit. Please do not look for, contact, or harass the individual in the information provided if you decide to look into the identity of this individual. While his information was provided by @nezer_alex on Telegram, we can’t be 100% positive they are the same person, and the individual in the photo could also be a victim of a crime. The sole purpose of sharing the following images is for transparency purposes:

Please keep in mind that @nezer_alex has not blocked our communication channels, but he isn’t responding to our inquiries either. It’s for this reason that we ask for patience as we try to work with authorities to discover what happened and try to bring the person who stole from so many to justice.

We are not naive to the fact that this INO debacle has had a negative impact on NIU as a whole, but we have already implemented a new and safer system and process in choosing, selecting, and securing liquidity pool INO funds and tokens.

As always, we are thankful for the communities patience and dedication to the Niubiswap ecosystem. We do apologize to those who were negatively affected by this event. If there are opportunities to recover the funds and return them to holders, this will be a top priority.

We thank you for your time.

Best regards,

The Niubiswap Team

Niubiswap is a decentralized exchange (DEX) which runs on Binance Smart Chain