It is rumored that the team of Yua Mikami has been arrested, but a Chinese KOL in Japan clarified: after multiple confirmations, it is false news.

Recently, the Twitter account @cryptobraveHQ revealed on Twitter: "The Chinese issuing team of the San Shang You Ya token has been arrested in Japan. Two core members of the issuing team are Chinese. Although the San Shang token does not allow Japanese users to participate, the token issuance has not been filed in Japan. Due to the team not having a hard cap fundraising of about 3 million dollars and the price crashing immediately after launch, the community has been protecting its rights, severely damaging San Shang's reputation. The San Shang team has reported the Chinese issuing team proactively, using the lack of filing for token issuance in Japan as evidence."

He added: Currently, the fundraising address of the San Shang Token team still has about 1.6 million dollars worth of Sol.

Chinese residents in Japan clarify: Yua Mikami's coin issuance team has not been arrested.

However, Chinese KOL AB Kuai.Dong immediately stated: "Let me say this, the team that helped San Shang You Ya issue coins has not been arrested, it has been confirmed from multiple sources." He listed five major reasons why the San Shang You Ya coin issuance incident does not have a significant impact on Japanese regulation:

It is not fundraising in Japanese yen.

Solana is not a public blockchain based in Japan.

The issuer is not a Japanese national and has not issued in Japan.

Sanjang actively issued a statement afterwards to clarify the relationship.

No Japanese-related promotions were issued, only Chinese for our compatriots.

He also added: In the past three years, Japan has hardly prosecuted project parties.

Original informant: The information comes from a friend in Japan, but there is no official evidence.

Subsequently, @cryptobraveHG responded: Regarding the matter of the San Shang coin issuing team being arrested, my source comes from a friend in Japan, who has verbally confirmed multiple times that they were arrested, but did not provide any evidence or news from the Japanese side about the arrest.

And added this morning: Today, the San Shang Token team fundraising address transferred 3000 SOL (, which is about 500,000 USD ). Currently, the address still has about 1 million USD of Sol.

This article claims that the team behind Yua Sanjo's coin issuance has been arrested. A Chinese KOL in Japan clarified: after multiple confirmations, it is false news that first appeared on Chain News ABMedia.