Co-founder Files Legal Action Against Token Project Over Market Manipulation Co-founder Files Legal Action Against Token Project Over Market Manipulation

PRESS RELEASE. Co-founder Mate Tokay is filing legal action against the founders of for failing to distribute a significant portion of BRG. Tokay was hired as an advisor for the project and was promised 37.5 million BRG for compensation. However, Tokay was never paid for his services, even though used his name for recognition, and managed to raise $6 million in six hours.

  • BRG Investors have been misled as investors have not been paid contractual obligations and the circulating BRG supply is incorrect.
  • Mate Tokay is filing legal action against the token project and principal founder Mr. Sina Estavi.
  • Tokay has informed other crypto industry market leaders, price aggregations sites, and relevant exchanges of the massive discrepancy the founders fail to disclose.

Over three months ago, the team raised millions of dollars in a public token sale, but have failed to compensate one of the key advisors.’s cofounder Mate Tokay entered into a contract with the or Bridge Oracle team members and was supposed to be paid 37.5 million BRG. Moreover, BRG’s circulating supply is much smaller than what’s being reported on crypto market valuation web portals.

When the payment was due, and it’s principal founder Sina Estavi refused to compensate the founder for his advisory services. Instead, Estavi tried to settle with Tokay offering a far lower sum than what was owed. Despite the contract, Estavi said he would not settle with Tokay for the sum of 37.5 million BRG and allegedly advisors have been treated similarly.

With contractual obligations to Tokay and likely other advisors, the circulating supply recorded on the web portal is incorrect. The discrepancy means that and its principal founder Sina Estavi are manipulating the market by including tokens intended to be paid out to Tokay and numerous advisors.

“It’s unfair to BRG investors,” said’s cofounder Mate Tokay. “Coin market cap aggregators show a much larger BRG supply than there actually is. This is clearly market manipulation by disallowing BRG investors from spending their tokens,” Tokay added.’s co-founder further stressed:

Tokay believes that there is no other choice but to take this matter to the proper authorities and file legal action against the token project and its founder Sina Estavi. He believes that should rectify the situation as quickly as possible before BRG investors become victim to a classic pump and dump. In addition to legal action, Tokay has contacted relevant crypto industry services like exchanges to notify them of the BRG market manipulation.

Source: news.bitcoin

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