Ocean Protocol has been hit with allegations of dumping around $120 million worth of Fetch.ai (FET) tokens after quietly exiting the Artificial Superintelligence (ASI) Alliance in October 2025.

Bubblemaps shared onchain data that suggests Ocean Protocol converted 661 million OCEAN tokens to about 286 million FET tokens valued at $191 million. 

This story is an excerpt from the Unchained Daily newsletter.

After splitting the funds across different addresses, by Oct. 14 nearly 270 million FET tokens, worth $120 million, were sent to Binance or an OTC provider, said Bubblemaps. 

Fetch.ai CEO Humayun Sheikh publicly accused Ocean Protocol of unauthorized and opaque transfers, offering a $250,000 bounty to uncover OceanDAO’s multisig wallet signatories.