In a mysterious reddit post, a user with the handle u/dashlabs has claimed that Dash Labs is closing down following months of inactivity and development on the Dash blockchain. This ends the two year relationship with Dash ecosystem for the technical team in Dash Labs.
Unconfirmed: “Dash Labs is Closed and All Employees Have Been Laid Off”
Per the post, Dash Labs, a core development on the Dash platform (together with Dash Core), has closed down its offices and laid off their staff. The organization has been slowly dying out in the past few months and it was finally time to shut its doors.
The post read,
“I was perfectly happy to just let this thing die off slowly but someone seems to have found my main account, and even asked me about the company on other forms of social media – since I don’t want this to follow me forever Dash Labs is closed and all employees have been laid off.”
The post further requested the community to offer the team members space from the Dash, Dash Labs, and Evan Duffield, the founder of Dash.
“I’d appreciate it if anyone who has found our actual identities keeps it to themselves, as we do not wish to be further involved with Dash, Dash Labs or Evan,” the post reads. “What Evan does with Dash Labs now is up to him as we have no further contact.”
The identity of the redditor who posted has not been revealed. Also, the news has not been publicly confirmed by Dash, the parent company of Dash Labs.
In August 2017, months before the mega bull run, Evan Duffield announced Dash Labs’ first employee, a software engineer, to run the organizational aspect of their businesses. Back then, he had also announced that Dash Labs and Dash Core are planning to set up an office in Hong Kong.
More on Dash Ecosystem
In October, Dash came under fire for its alleged non-compliance with FATF’s travel rule causing a number of exchanges including OKEx, CEX.io and Coincheck to consider delisting the privacy coin from their platforms.
Since hitting a yearly high of $185 USD in June, the privacy based coin, has slipped more than 60% to a current price of $70.12 USD, as at time of writing. The slip cannot be solely attributed to Dash Labs stopping its technical developments as the market in general slipped in lieu with Bitcoin’s price reversal below the $9,000 level.