Audit log

Every state-changing event for Venice Token: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-05-14 06:02:16Z
   Score: ? → ? (no score change)
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   ●mainnet-betaslot 419,628,822

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   7FUBtRENvsd8…iuA1PrxRcopyexplorer ↗

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   Bz6FdSJbW9Fw…5stTaYjxcopysha256 → base58

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   canonical bytes (6150 B) ▸

   {"actor":"system:backfill","investigation_id":"dc66f033-59d6-4ef7-a0f8-12de7de13ec7","kind":"publish","page_slug":"venice-token","published_at":"2026-05-14T06:02:16.316Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Venice Token","sections":[{"content":"Venice AI was founded by Erik Voorhees, previously known as the founder and CEO of ShapeShift, a cryptocurrency exchange. Voorhees is a prominent libertarian Bitcoin advocate. Venice positions itself as a privacy-focused, uncensored AI platform competing with OpenAI and Anthropic. The VVV token launched in late January 2025 on Coinbase's Base L2 network.","heading":"Founder and Background","severity":"low","sources":[{"credibility":1,"name":"The Block: Erik Voorhees' Venice Launches VVV Token","type":"news_article","url":"https://www.theblock.co/post/337196/erik-voorhees-ai-platform-venice-token-ethereum-layer-2-base"}]},{"content":"Insiders at Venice dumped $10.2 million worth of VVV tokens immediately after launch. Crypto analyst Amir Ormu identified 16 wallets funded by a Venice team multi-signature wallet that held 23% of total token supply. Tokens were transferred to wallets that sold through CowSwap, a DEX that could obscure transactions. VVV crashed 63% from a peak of $19.38 to $2.44 within days of launch. Voorhees defended the sales, stating the announcement blog disclosed that approximately 2.5% of supply could be sold, claiming only a fraction was actually sold.","heading":"Insider Token Dumping","severity":"critical","sources":[{"credibility":2,"name":"Bitcoin.com: Venice Token Faces Pump and Dump Allegations","type":"news_article","url":"https://news.bitcoin.com/erik-voorheess-venice-token-faces-pump-and-dump-allegations/"},{"credibility":2,"name":"ICOHolder: Venice Token Dumped by Insiders","type":"news_article","url":"https://icoholder.com/en/news/venice-token-dumped-by-insiders-sparks-controversy"},{"credibility":1,"name":"CoinDesk: Venice AI VVV Drops 50% on Insider Trading Concerns","type":"news_article","url":"https://www.coindesk.com/markets/2025/01/29/venice-ai-s-vvv-drops-50-as-insider-trading-concerns-swirl"}]},{"content":"In January 2025, two contributors of Aerodrome Finance (a launch partner DEX on Base) purchased VVV tokens before public announcements, constituting insider trading. Aerodrome Finance suspended both contributors. VVV crashed 50% following these allegations. The incident raised broader concerns about the speed at which exchanges like Coinbase were listing tokens.","heading":"Aerodrome Insider Trading Incident","severity":"high","sources":[{"credibility":2,"name":"Coinspeaker: Aerodrome Suspends Contributors Over Insider Trading","type":"news_article","url":"https://www.coinspeaker.com/aerodrome-finance-suspends-contributors-over-insider-trading-during-venices-vvv-token-launch/"}]},{"content":"Governance remains fully centralized with no token-holder voting on protocol decisions. The dual-token model (VVV for governance/staking + DIEM for compute credits) has drawn criticism for potentially weakening long-term value capture for VVV holders. The privacy model is not fully trustless — Venice runs its own GPUs, meaning the hardware can technically see user prompts even though the company claims it does not store them.","heading":"Governance and Privacy Concerns","severity":"medium","sources":[{"credibility":2,"name":"AMBCrypto: Venice AI Tokenomics Backlash Grows","type":"news_article","url":"https://ambcrypto.com/ai-token-vvv-rallies-as-venice-expands-but-tokenomics-backlash-grows/"}]}],"sources_used":[{"credibility":1,"name":"CoinDesk: VVV Drops 50%","type":"news_article","url":"https://www.coindesk.com/markets/2025/01/29/venice-ai-s-vvv-drops-50-as-insider-trading-concerns-swirl"},{"credibility":1,"name":"The Block: Venice Token Launch","type":"news_article","url":"https://www.theblock.co/post/337196/erik-voorhees-ai-platform-venice-token-ethereum-layer-2-base"},{"credibility":2,"name":"Bitcoin.com: Pump and Dump Allegations","type":"news_article","url":"https://news.bitcoin.com/erik-voorheess-venice-token-faces-pump-and-dump-allegations/"},{"credibility":2,"name":"Coinspeaker: Aerodrome Insider Trading","type":"news_article","url":"https://www.coinspeaker.com/aerodrome-finance-suspends-contributors-over-insider-trading-during-venices-vvv-token-launch/"},{"credibility":2,"name":"AMBCrypto: Tokenomics Backlash","type":"news_article","url":"https://ambcrypto.com/ai-token-vvv-rallies-as-venice-expands-but-tokenomics-backlash-grows/"}],"summary":"Venice Token (VVV) is the governance token for Venice AI, a privacy-focused AI platform founded by Erik Voorhees (ShapeShift founder). Launched January 2025 on Base (Ethereum L2). Insiders dumped $10.2M worth of VVV immediately post-launch from 16 wallets funded by a team multi-sig holding 23% of supply, crashing the price 63% from $19.38 to $2.44 within days. Aerodrome Finance suspended two contributors for insider trading during the launch. Tokenomics backlash grew over the dual-token model (VVV + DIEM). Governance is fully centralized with no token-holder voting. Privacy model is not trustless — Venice runs its own GPUs.","timeline":[{"date":"2025-01-25","event":"VVV token launches on Base L2 with airdrop targeting AI agents","source":"theblock.co","source_url":"https://www.theblock.co/post/337196/erik-voorhees-ai-platform-venice-token-ethereum-layer-2-base"},{"date":"2025-01-27","event":"VVV peaks at $19.38; insider wallets begin dumping $10.2M worth of tokens","source":"coindesk.com","source_url":"https://www.coindesk.com/markets/2025/01/29/venice-ai-s-vvv-drops-50-as-insider-trading-concerns-swirl"},{"date":"2025-01-29","event":"Aerodrome Finance suspends two contributors for insider trading during VVV launch","source":"coinspeaker.com","source_url":"https://www.coinspeaker.com/aerodrome-finance-suspends-contributors-over-insider-trading-during-venices-vvv-token-launch/"},{"date":"2025-02-02","event":"VVV crashes to $2.44, down 63% from peak","source":"bitcoin.com","source_url":"https://news.bitcoin.com/erik-voorheess-venice-token-faces-pump-and-dump-allegations/"}]},"v":1}

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2. #2rescoreby systemsystem

   2026-10-27 06:09:44Z
   Score: 30 → 43 (+13)
   Rescored under Scoring v2, the published formula (avoid.net/scoring): 30 → 43. Problems weighed by who is responsible: the subject's own conduct −25, concerns that are not fraud −3.2, problems around the subject, caused by others −1.8.
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   ●mainnet-betaslot 461,966,854

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   3Frnaa1Az655…s2R7udPvcopyexplorer ↗

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   C3CNYRkGDuPf…zotWvHmCcopysha256 → base58

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   canonical bytes (602 B) ▸

   {"actor":"system","decided_at":"2026-10-27T06:09:44.742Z","decision":"rescore","investigation_id":"dc66f033-59d6-4ef7-a0f8-12de7de13ec7","new_score":43,"page_slug":"venice-token","prev_score":30,"reason":"Rescored under Scoring v2, the published formula (avoid.net/scoring): 30 → 43. Problems weighed by who is responsible: the subject's own conduct −25, concerns that are not fraud −3.2, problems around the subject, caused by others −1.8.","score_delta":13,"score_model":"v2","sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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3. #3reviewby reviewerreviewer

   2026-11-02 04:57:25Z
   Score: 43 → 43 (no score change)
   The core story is real: the launch, the Aerodrome contributor suspensions, the 63% decline and the Voorhees response all check out. Two timeline dates are wrong (launch is Jan 27, not Jan 25; the Aerodrome suspension was on launch day, not Jan 29). The insider-dump claims are presented as fact though the sources frame them as allegations by one analyst that Voorhees disputes. The CowSwap detail and the governance and GPU privacy claims are not found in the cited sources. The page is silent on the project's 2026 status.
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   ●mainnet-betaslot 464,369,014

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   canonical bytes (1374 B) ▸

   {"actor":"reviewer","artifact_identity":"997eb61027706174b8dd6ddcd7b890a1","decided_at":"2026-11-02T04:57:25.544Z","decision":"review","disputed_pct":0.3571,"findings_hash":"7Hn9x3doQvdcjvSpwAVSq73hX4nuHRcu8v3hfMcjbHj","investigation_id":"dc66f033-59d6-4ef7-a0f8-12de7de13ec7","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":43,"omissions":{"material":1,"total":2},"page_content_hash":"c4b1767b58be060aa23b7f950f21b071cc376997e485c5f31e1e57281d2a3ba8","page_slug":"venice-token","prev_score":43,"reason":"The core story is real: the launch, the Aerodrome contributor suspensions, the 63% decline and the Voorhees response all check out. Two timeline dates are wrong (launch is Jan 27, not Jan 25; the Aerodrome suspension was on launch day, not Jan 29). The insider-dump claims are presented as fact though the sources frame them as allegations by one analyst that Voorhees disputes. The CowSwap detail and the governance and GPU privacy claims are not found in the cited sources. The page is silent on the project's 2026 status.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"sequence_num":3,"subject_status":"operating","subject_status_contradicts_page":true,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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4. #4review reviseby judgejudge

   2026-11-02 04:57:25Z
   Score: 43 → 43 (no score change)
   About 36% of checkable claims (5 of 14: two disputed, three not found in the cited sources) were not supported, which falls in the significant-issues band. Two timeline dates are wrong (claim_findings[0] launch date and claim_findings[9] Aerodrome suspension date, both should be 2025-01-27). The insider-dump figures are stated as fact although the source presents them as one analyst's allegations that Voorhees disputes (claim_findings[3]), and the CowSwap, governance and GPU/privacy statements are not in the cited sources (claim_findings[4], [11], [12]). The page also omits the project's later status (omission_findings[0]). The core story of the launch, the Aerodrome suspensions and the price decline is confirmed, and reviewer confidence is moderate, so the penalty is held mid-band and the page is not delisted.
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   ●mainnet-betaslot 464,369,019

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   canonical bytes (1895 B) ▸

   {"actor":"judge","artifact_identity":"997eb61027706174b8dd6ddcd7b890a1","band_override":null,"decided_at":"2026-11-02T04:57:25.544Z","decision":"review_revise","delist_requested":false,"disputed_pct":0.3571,"investigation_id":"dc66f033-59d6-4ef7-a0f8-12de7de13ec7","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":43,"page_slug":"venice-token","prev_score":43,"reason":"About 36% of checkable claims (5 of 14: two disputed, three not found in the cited sources) were not supported, which falls in the significant-issues band. Two timeline dates are wrong (claim_findings[0] launch date and claim_findings[9] Aerodrome suspension date, both should be 2025-01-27). The insider-dump figures are stated as fact although the source presents them as one analyst's allegations that Voorhees disputes (claim_findings[3]), and the CowSwap, governance and GPU/privacy statements are not in the cited sources (claim_findings[4], [11], [12]). The page also omits the project's later status (omission_findings[0]). The core story of the launch, the Aerodrome suspensions and the price decline is confirmed, and reviewer confidence is moderate, so the penalty is held mid-band and the page is not delisted.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"sequence_num":4,"severity_override":{"applied":true,"band":"significant","from_band":"significant","reason":"The review reports a material omission (the page stops in February 2025 and says nothing of later burns, reduced emissions or funding) and finds the page contradicts the project's current operating status. The percentage band already sits at significant, so the escalation holds the verdict there rather than allowing a lower band."},"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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5. #5rescoreby systemsystem

   2026-11-02 04:57:26Z
   Score: 43 → 46 (+3)
   Recalculated after the fact-check of 2026-11-02. Rescored under Scoring v2, the published formula (avoid.net/scoring): 43 → 46. Problems weighed by who is responsible: the subject's own conduct −25, problems around the subject, caused by others −1.8; 1 section(s) set aside until a failed fact-check is resolved.
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   ●mainnet-betaslot 464,369,024

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   2shyCuRJ3VYS…t4MLhkN5copyexplorer ↗

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   2xbZdAnbTS1C…MvVjkx8ccopysha256 → base58

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   canonical bytes (678 B) ▸

   {"actor":"system","decided_at":"2026-11-02T04:57:25.544Z","decision":"rescore","investigation_id":"dc66f033-59d6-4ef7-a0f8-12de7de13ec7","new_score":46,"page_slug":"venice-token","prev_score":43,"reason":"Recalculated after the fact-check of 2026-11-02. Rescored under Scoring v2, the published formula (avoid.net/scoring): 43 → 46. Problems weighed by who is responsible: the subject's own conduct −25, problems around the subject, caused by others −1.8; 1 section(s) set aside until a failed fact-check is resolved.","score_delta":3,"score_model":"v2","sequence_num":5,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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