SatoshiVM accuses Ape Terminal of favoring Ape Terminal

‘Initial DEX Offering’ (IDO) launchpad Ape Terminal has been accused by an advisor to the SatoshiVM (SAVM) project of scamming “all of the IDO launches on their platform.”

The claim was made on X (formerly Twitter) by ‘MacnBTC,’ who also alleged that Ape Terminal directed rewards to wallets associated with the team and is making “millions selling the winner wallets.”

Other X users also attempted to analyze the distribution of rewards associated with the SAVM project and highlighted that proceeds were distributed to only 10 wallets instead of the 100 that were originally advertised.

This analysis tied several of these wallets to activities linked to the Ape Terminal team and to DAO Maker, the last product of Hatu Sheikh.

Other projects that have launched on Ape Terminal have claimed that Hatu Sheikh is also the founder of Ape Terminal. Supporting this thesis is the fact that Hatu is one of only two X accounts associated with individuals that Ape Terminal follows on the platform.

Hatu Sheikh is one of two accounts associated with individuals that Ape Terminal follows on X. 

Ape Terminal has responded to some of these accusations, claiming that ‘MacnBTC’ is more of a founder than an advisor, that SAVM was selling significant quantities of the token, that the sale was modified while in progress at the request of MacnBTC, and further claimed it had returned the fee. 

Read more: ‘Satoshi’ X account tweets for first time in months, community notes shuts it down

However, the communications from Ape Terminal seem to have other serious problems, including claims that it could explain the strangeness in winner wallets as a bug that tricked the point system; however, the listed page in the document provides no ‘proof’ of this bug.

ZachXBT, an independent cryptocurrency analyst who works on highlighting grifts, scams, and frauds, took to X to state, “both Ape Terminal and Mac are guilty of acting dishonestly toward their users/followers.” 

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