From an ATH of over $10,000 to a current price of $350. The view is of a project falling because of a bad market. After the last several days of following the happenings inside this project it is out of time and I will NEVER be involved in another Daniele Sestagalli project. Fool me once, same on you; there will be no fool me twice. Ill try to give you my understanding of it as I have been able to gather below.

Statement from Sesta about 30 mins ago:
“Dear Frogs and Crypto Community, 
I would like to issue this statement, due to the occurings of the last 24 hours.

To summarize what has happened, word came out that Sifu who has been running the Wonderland Treasury, previously was a cofounder of QuadrigaCX, and has had other occurrences in the past.I found out about this 1 month ago, I am of the opinion of giving second chances, as I have mentioned on Twitter. 
I’ve seen the community very divided about my choice of maintaining him as the treasury manager after finding out who he was and his past.

Regardless, what has happened has happened. Now having taken some time to reflect, I have decided that he needs to step down till a vote for his confirmation is in place. Wonderland has the say to who manages its treasury not me or the rest of the wonderland team.It is not easy to take this kind of choices, who know me and had time to listen and follow my journey in DeFi can confirm that I have no bias for anyone, I have learned to give trust to people and to make my own opinions about them rather than just listen to the noise. 

This has led me to incredible friendships and also to dramatic ends, including love stories and friendships. This said I have to lead this community by example and make sure that everyone can voice their opinions and not take just mine as a given. All funds in wonderland are managed by a multi-sign, any fud related to that needs to be cut off now, as they are secured by me and the wonderland team. buyback will still happen and the team is working on deploying the products that we have mentioned it would need to be deployed.

I hope the community now comes together and decides what the future looks like and who they want managing their money. I am here as the executor of your will and will always be.”

Link below gives you information on the previous criminal financial acts “SIFU” was involved in:

So for over a month, Sesta has known about this and done nothing? Over a $1 BILLION treasury and a convicted financial criminal running your treasure. What does he do? NOTHING. 

I was a big believer and advocate for this project. It had been around for a while and produced huge results. It had the backing of what appeared to be a massive treasury and good developer group. 
There was supposed to be a sports book opened to use TIME tokens and give them a utility use creating fees to TIME holders and a deflationary mechanism leading to increase in value and offsetting rebases. That airdrop was supposed to happen weeks ago. We never received those either. 

We (MMA Crypto) currently holds many TIME but the treasury is frozen, unable to cash out. 
They have proposed to merge with Abracadabra money and was to be voted on by the TIME community. Since the release of the SIFU info that merger has been put on hold. 

There are many unknown questions that will come out as days go by. The answer to me is simple: IF Sesta really did not know about these things, which I highly question, use treasury and payout every TIME holder $1200 per TIME. There is enough in the treasury to do so. This will put an end to TIME but make a decision as fair as can be made for the longtime supporters and investors. 

Sesta is involved in many other projects: projects I have supported and written about on BBS. No more. My gut feeling is this does not end well for TIME holders. Before anyone says anything, I know this is crypto and anything can happen. I get it. I am not upset by the fall of TIME. I am upset by the lack of leadership to make it right when you have so many other projects in the works and finishing. He and Conje produced the new SOLID project on FTM that was to be airdropped to FTM top 20 projects. How do you trust anything he has done ever again?

Rumor also has it and I HAVE NOT seen official confirmation that during the liquidations when TIME fell the first time Sesta took over $3M by circumventing the system with WMemo. When I can confirm either way I will update this. He got liquidated out himself in the hard fall a couple days ago. So to make it up…. Circumvent the system and take $3M. 

The info will continue to come out in next days and weeks. It has been coming out at a record pace already so maybe sooner than expected. I will keep everyone updated as it happens. There are still so many questions to be answered. I can tell you as of now anything Sesta is involved in I will NOT TOUCH. I would love to see Ran do a show on this as he and majority of CB has supported Sesta greatly. 
My opinions is it looks like frog nation has been gigged. Beyond TIME; Sushi, Solid, Ice, and Spell. I have invested in ICE and Sushi and have cashed out. I will go somewhere that the developer is not known to hire convicted financial criminals and the keep hid for over a month. JMO and NOT FA. Maybe he recovers. I wont be around his projects to find out.