I am also an investor in the Portal project, and like many others, I had great optimism for its potential. However, it quickly became apparent that the promises made by the project were nothing more than falsehoods. Regrettably, the original white paper, which served as the cornerstone for our investment decisions, conveniently vanished, erasing any trace of its contents. This white paper had boldly claimed to incorporate homomorphic encryption for swaps, but the reality is that implementing such encryption is prohibitively expensive and renders it unfeasible.
Furthermore, the organization insisted that everything would be open source, but upon examining the GitHub profiles of the developers associated with this project, one would discover a startling absence of activity. Not a single line of code was being written, not even within private repositories as they had repeatedly assured. The repeated claims of transparency and open source development were shattered. It is disconcerting to contemplate investing in a closed source wallet, particularly in light of the unfortunate incident involving Atomic wallet users losing their funds due to misplaced trust in closed source code.
In addition, the Portal Team purportedly forked the Raiden Network light client, shielded behind closed source code, and astonishingly claimed to have developed it within a mere three weeks. This assertion disregards the fact that the original network, developed in collaboration with Ethereum core developers, required over 16,000 commits spanning six years. The desolate state of the Portal Team’s GitHub repositories serves as a testament to their lack of substantial contributions.
Furthermore, the departure of former CEO Eric Martindale, who appeared to possess integrity, has left us perplexed. The reasons behind his departure have not been adequately addressed, leaving us with Chandra Duggirala, whose dubious claims about inventing the atomic swap have earned him a reputation as a scam artist. As someone who has followed your endeavors for years, it deeply saddens me to witness your willingness to compromise your integrity by aligning yourself with these unscrupulous individuals.
In response to these circumstances, a group of investors and I have taken the initiative to consult with legal professionals to explore the possibility of pursuing a class action lawsuit and even criminal charges. Scams of this nature tarnish the reputation of the entire community and hinder the progress we strive to achieve.
