Neo Founder Fallout: Da Hongfei Accused of Failing to Fulfill Financial Disclosure Promise, Erik Accused of Misappropriating Foundation Funds

BlockBeats News, December 31st, Neo Co-Founder and Core Developer Erik Zhang accused NEO Founder Da Hongfei of failing to fulfill the commitment to financial disclosure. Erik Zhang stated that based on a clear agreement reached in a recent phone call, starting from January 1, 2026, Da Hongfei will focus on the operation and development of NeoX and SpoonOS, no longer involved in any matters related to the Neo mainnet, and called on Da Hongfei to immediately make a complete and verifiable financial report public to the community, including a detailed list of all assets managed by the Neo Foundation (NF) and a breakdown of all expenditures to address the community's long-standing concerns about transparency and governance.

NEO Founder Da Hongfei responded in a post, stating that Erik Zhang controls the vast majority of Neo funds, manipulates consensus node voting, and is willing to hijack agreements at the expense of the community and token holders' interests. He had urged Erik to transfer NEO/GAS tokens from his personal custody to the foundation's multisig address — he still retains the key holder status. However, Erik Zhang always finds excuses to delay this process.

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