Odaily News Andre Cronje published an open letter on his personal blog revealing the inside story of his resignation from the crypto project in 2022. Andre Cronje stated that since 2020, he has launched crypto projects such as Yearn and Keep3r, which did not raise any funds, sell any tokens, or do anything that could be considered a violation of any country's securities laws.
In 2021, Andre Cronje received the first letter from the SEC, which asked for more information about YFI. Subsequently, "more letters continued to come, each turning to a new angle of attack, and they began to investigate from the perspective of salary increases and violations of the SEC." Andre Cronje had to spend months and real money to respond to these attacks. This eventually led to Andre Cronje's choice to resign from the crypto project in 2022.