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Aqua 1 denies any association with Web3port, stating that the team operates independently
BlockBeats News, July 15th, the Aqua 1 Foundation released a statement in response to recent rumors about its team and operations. The statement pointed out that Dave Lee joined Aqua1 in April 2025 as a co-founder and CEO, and the team is highly aligned with its long-term vision. Aqua1 emphasized that the company operates independently and has no equity, financial, or operational relationship with any unrelated entity. Currently, the team is collaborating with institutions in the Middle East to advance the project, but some details have not been disclosed due to compliance requirements.
Earlier, according to Beincrypto reports, Aqua 1 had announced a strategic purchase of $1 billion WLFI tokens, claiming to be from the UAE. However, a recent investigation found that "Aqua 1" is actually a shell company associated with the controversial company Web3port. Web3port is a market maker that was banned by multiple decentralized exchanges in 2023 for suspected market manipulation. The true identity of its founder, "Dave Lee," remains a mystery. "Aqua 1" is not registered in the UAE and has not disclosed any information about its responsible persons. Although the funds were promoted for "digital freedom infrastructure," they were actually transferred through opaque wallets and offshore accounts with a direct connection to Web3port.
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