Ragnarok
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September 12, 2022

Ragnarok CEO Issues Apology after Crypto Loss

0xfanfaron, the CEO of Ragnarok, a metaverse RPG game, or metaRPG, has issued an apology after losing 12% of the 15.5 million ETH gained from the game’s NFT sale. What happened? 

Although it may not seem like a large percentage, 12% of 15.5 million ETH is about 1.86 million ETH! The CEO’s statement is as below:

“We exchanged the ETH from the mint for 15.5 million in USD Coin. As it turns out, this was a good move in treasury management. But when ETH’s price went down, I made mistakes by buying ETH multiple times when I thought it was an advantageous investment for the project.”

Not all is lost because 0xfanfaron has personally pledged to right the wrongs and and cover the losses the treasury over at Ragnarok has suffered. We applaud his transparency, now we look to the results. 

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