About Maksim Dovnar

In April 2024, together with Maksim Dovnar, we founded the company Depotly Sp. z o.o. in the Republic of Poland with the aim of implementing the idea of cryptocurrency processing with low fees. From the very beginning, everything looked promising: we had a motivated team and a promising concept.

We clearly divided our roles: I was responsible for the technical part, while Maksim Dovnar handled operational activities, fundraising, business strategy development, and product growth. Initially, the project was funded from our personal resources.

By August 2024, our resources were nearly depleted: funds were running out, and the financing that came out of our own pockets no longer covered our needs. At the same time, Maksim Dovnar remained the only person who had access to the finances of Depotly Sp. z o.o.

Around that period, an experienced marketer joined the project, and soon potential investors appeared. It seemed like a positive step forward, but new tension arose within the team, related to suspicions that Maksim Dovnar might be using the company's funds inappropriately.

From the business correspondence, it appears to me that Maksim could have been using the funds for personal gain by hiring himself at Depotly Sp. z o.o. as an AML officer with a corresponding salary, while conducting deals that, in my view, did not generate enough income to cover his salary. However, I do not have complete information regarding the actual scope and final outcomes of these operations. Furthermore, I have serious doubts about his qualifications: he likely did not have the necessary education required for an AML specialist in Poland, and I never saw any supporting documents.

In my personal opinion, Maksim did not fulfill his direct responsibilities and in fact made only a minor contribution to the development of Depotly Sp. z o.o. Moreover, considering that he, in my view, concealed the true state of affairs, one might assume that potential investors and funds ready to provide a grant were misled. I acknowledge that this situation may exhibit signs of fraud; however, I cannot state this with certainty since I do not have all the necessary documentation.

I also have doubts about the legality of the accounting practices, because I never obtained access to the financial statements. Although Maksim assured me that accounting services were paid for, he did not present a single report prepared by them. At the end of October 2024, trying to ascertain the company's financial situation, I requested the relevant documents from Maksim but was refused. This was the decisive moment after which I decided to leave the Depotly project - a startup we had once founded together.

In November 2024, I proposed initiating bankruptcy proceedings; however, Maksim assured me that he would find a buyer for my share and that bankruptcy would be disadvantageous for both of us. Since then, the project continued without my involvement, and I have not been responsible for any financial operations or personnel decisions. In fact, I was never responsible for those from the time the company was initially registered. According to Maksim Dovnar, he continued working on the Depotly project without my involvement.

In order to resolve the dispute, Maksim was offered to reimburse from his personal funds everything I had invested in the startup prior to its official registration. This was due to the fact that he managed the money without any transparency, did not provide reports on exchange trading, and essentially concealed the company's real financial state. Throughout our entire collaboration, he only prepared a White Paper for marketing and product promotion and, in my view, contributed nothing else of significance.

According to Maksim Dovnar, it is now I who owe him money, because the company went bankrupt, and in his opinion, this happened specifically due to my departure from the project. He claims that without my participation, success could not be achieved. Maksim did not respond to my objections that I neither had access to nor managed the company's funds. He also did not comment on why he did not discuss his employment and salary with me. I received no payment for all my work on the technical side: all my financial contributions were the initial investments into our joint business and personal loans that Maksim took from me.

Additionally, I doubt that Maksim Dovnar is capable of managing the funds of any company without self-interest or of leading projects from inception to successful launch, given his repeated lack of transparency and unwillingness to provide documentation.

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Important: Everything stated above reflects my personal assessment and experience in dealing with the company and its participants. This information is provided to clarify the project’s history and does not claim to be absolutely objective or an exhaustive overview. If anyone has additional materials that confirm or refute the facts stated here, I am ready to review them.