Serpin token launched only on Coinbase after TGE, on-chain detective Specter questions 85% refund arrangement

Odaily reports: On-chain detective Specter posted on X platform stating that Serpin issued a token and conducted an ICO for a project that originally did not need a token, and had previously said it would not issue a token; the project remained inactive at TGE, with the token only listed on Coinbase with low liquidity, and not listed on exchanges such as MEXC or KuCoin. Specter stated that participants need to go through a lengthy verification process to recover 85% of their funds, and questioned why the project team does not fully refund participants for its own decisions and mistakes; the project was originally planned to conduct its TGE in September, but was later delayed.