Steaker founder Huang Weixuan countered media reports that misinterpreted and misled the content of the indictment

In response to the platform's "Chain News" recently published a title titled "Exclusive Decryption of Steaker Indictment: Involving Quantitative Technology Lending, Mixed Use of Assets, Why Prosecutors Determined to Absorb Money Laundering?" In April, Steaker founder Huang Weixuan issued a public statement refuting many of the allegations and misinterpretations involved in the report, emphasizing that the report not only quoted the prosecution's content one-sidedly, but also made a biased interpretation without verification, which had a significant impact on the Steaker team and users.

Wong Wai-hin bluntly said: "Such reports not only go against the journalistic profession, but may even mislead the public and damage the credibility of the judiciary and the media."

The report quoted prosecution's information one-sidedly and drew conclusions without a response from the team

Huang Weixuan pointed out that the "Chain News" report quoted the content of the indictment in many places without verifying its actual background, nor did it consult the Steaker team for opinions or responses, resulting in reports full of subjective speculations and statements that are inconsistent with the facts. He questioned whether such reports were really a neglect of verification or a deliberate attempt to steer the wind.

Corporate lending and asset allocation are normal operations and there is no misconduct

The report mentioned that Steaker was involved in corporate loans, and even questioned the intention behind it. In this regard, Huang Weixuan clarified that Steaker is essentially a digital asset management platform, with the same operating logic as traditional funds, adopting a diversified allocation strategy to diversify risks and improve returns, and signing virtual asset lending contracts with legal entities is a common practice in the industry.

He stressed that all asset allocation has gone through a prudent risk control process, and there is no illegal or abnormal situation.

There is no violation in the transfer of USDC funds to AAVE, and media reports are grossly misleading

In response to the report that Steaker transferred 360,000 USDC to the decentralized lending protocol AAVE, and questioned the opaque disclosure of its information, Huang Weixuan pointed out that the actual indictment only records the flow of funds, and does not allege illegal use or fail to inform investors. However, the media added unpublished content on its own, misleading the public to believe that this was the prosecution's determination of the facts.

Wong criticized: "This kind of fabricated reporting has seriously damaged the credibility of the judiciary and the media, and is extremely unfair to the Steaker team."

Huang Weixuan: Transparent capital flow, traceable data, and asset management in line with industry standards

In the face of doubts about Steaker's capital flow and multi-wallet management, Huang Weixuan stressed that all user deposits, withdrawals, positions and income records have detailed records, and are operated after KYC verification, without misappropriation of funds or arbitrary allocation.

Regarding corporate accounts and multi-wallet setup, he pointed out that this is the norm in the industry, aiming at risk isolation, asset security control and operational efficiency. Each dispatch of funds has been recorded, and it has been explained to the prosecution on several occasions that the "complexity" of the funds does not mean "inappropriate".

The content of the prosecution did not identify fraud, and the media reports were inconsistent with the facts

Chain News reported that Steaker was suspected of "fraudulently obtaining money," citing Article 339-4 of the Penal Code. However, Wong stressed that the actual indictment clearly stated that "it is impossible to determine that there was fraudulent intent in this case", and even affirmed that the redeemed investor received principal and interest repayment, so it did not constitute aggravated fraud.

He expressed deep regret over such misleading reports, noting that misinformation not only influences public opinion, but may also hinder Steaker's efforts to recover funds from FTX, ultimately harming investors.

The "underground capital plate" argument is groundless, questioning the unfair position of the media

At the end of the report, Steaker was compared to an "underground capital disk", accusing him of illegally absorbing money with investment, borrowing, and shareholder structure packaging. In this regard, Huang Weixuan strongly refuted, pointing out that the indictment never used similar words, and if it were not for the prosecution's position, the media directed itself and added materials without authorization, which makes people wonder whether their motives are malicious operations.

Huang Weixuan stressed that he would defend his reputation in accordance with the law and hoped that the media would return to their duties

At the end of the statement, Huang Weixuan said that since the establishment of Steaker, in the face of many doubts and misunderstandings from the outside world, the team has never shirked its responsibilities and fully cooperated in the face of judicial proceedings. He called on the media to play their role in verification and not become a tool to lead the wind, otherwise it is not excluded to file legal prosecutions and protect the reputation of the team.

This article by Steaker founder Huang Weixuan counters media reports: The misinterpretation and misdirection of the content of the indictment first appeared in Chain News ABMedia.