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Verge recently announced a fundraising project, asking supporters to “donate to support development,” hinting toward a partnership that “represents an enormous potential market with a global reach.”

While Verge hasn’t provided any specific information on how this capital is to be used, the disappearance of over 18 million XVG from the fundraising wallet on the 13th of April has become a serious source of concern in the cryptocurrency community.

The Verge dev team took to the Verge telegram group shortly after the transfer to inform supporters that the XVG was moved to pay Ledger — presumably for Ledger wallet integration. While this may sound reasonable, there are many elements of this explanation that don’t add up.

The latest development in the ongoing Verge circus is the most concerning to date.