Jun 2025 - Rowan Energy Blockchain Closes Amid Fraud Allegations

UNKNOWN

JUNE 2025

GLOBAL

ROWAN ENERGY

DESCRIPTION OF EVENTS

Rowan Energy is developing a vast decentralized energy network powered by blockchain technology. By connecting renewable energy sources like solar installations to its custom-built Rowan Blockchain via a device called the SmartMiner, Rowan creates a system where energy generation data is recorded on-chain in real time. This approach allows for transparent, tamper-proof verification of energy output, forming the foundation for their rewards system and supporting a range of energy-related products and services.

At the core of this ecosystem is the Rowan SmartMiner, a blockchain validator and energy meter installed alongside solar systems. It ensures high-quality, anti-tamper energy data collection, which feeds into Rowan’s Proof of Useful Generation (PoUG) consensus. In this model, renewable energy generation is not just environmentally beneficial—it also powers the validation of blockchain transactions and the minting of carbon offset NFTs. The Rowan Blockchain is engineered for low energy consumption, contributing to its low carbon footprint and positioning it as a sustainable alternative to traditional consensus models.

Supporting the Rowan ecosystem is a growing community of over 1,100 SmartMiner users and 90+ installation partners. The Rowan Wallet enables secure and simple management of Rowan's native RWN tokens, allowing users to earn and transact with ease. With reward programs offering £0.10 per kWh generated, certified installation processes to ensure data integrity, and a user-friendly mobile wallet, Rowan Energy is not only decentralizing energy production but also creating economic incentives for clean energy adoption.

The lack of liquidity locks, central control of token supply, and opaque tokenomics were all cited as red flags that foreshadowed the collapse.

Despite the green-energy branding and hardware tie-ins, the project failed to deliver transparent on-chain tracking or sustainable governance. An April exposé detailing hidden minting functions and inflated token supply stood as an early warning.

The Rowan Energy (RWN) token investigation reveals serious technical and ethical concerns about the legitimacy of the project. The token is deployed on a private blockchain that mimics Ethereum, but operates with minimal transparency. The smart contract behind RWN appears to be a basic ERC-20 token with additional custom functions. Notably, it includes a hidden minting function—mintToken(address,uint256)—which allows any amount of tokens to be created and sent to any address. This function is not documented in public materials and is absent from earlier prototype contracts, indicating it was added intentionally post-development.

Although Rowan Energy publicly claimed a maximum supply of 545 million tokens, blockchain queries reveal the actual total supply is 945 million, with the ability to mint even more. At one point, the investigator successfully used the mintToken function to create 1 billion additional tokens, temporarily doubling the total supply to 1.945 billion RWN. This transaction did not appear in the official block explorer, implying deliberate suppression of data that could expose token inflation.

The contract also includes an unused proof-of-work (PoW) mining system, aligning loosely with ERC-918, but there is no evidence of energy-based validation or of customer-owned “smart miners” interacting with the chain. Additionally, over 589 million tokens were found in a small subset of wallets—exceeding the advertised cap—suggesting that large volumes of unaccounted tokens exist and may have been dumped on the market without investor knowledge.

Loss amounts have not been fully tallied.

An investigation involved sniffing traffic from Rowan’s AnkerPay wallet app and analyzing its interaction with a publicly exposed Ethereum-based RPC node. The author demonstrates how to call standard ERC-20 functions to validate token balances and total supply, showing that massive quantities of tokens exist beyond what’s been publicly acknowledged. The blockchain explorer used by Rowan allegedly conceals these minting transactions, raising further doubts about the platform’s transparency and adherence to blockchain principles like immutability and verifiability.

Concluding the exposé, the author questions the legitimacy of Rowan’s much-touted “Proof-of-Useful-Generation” mechanism, noting a lack of technical evidence supporting its implementation on-chain. Instead, the RWN token appears to use a vanilla ERC-20 contract with an unused proof-of-work minting mechanism, suggesting the company’s claims about energy-based validation may be unfounded. The post calls for an independent blockchain audit and urges the community to prioritize verifiable code over blind trust in leadership, highlighting how investor trust may have been exploited under the guise of sustainable innovation.

Rowan Energy effectively performed a “rug pull” in late June 2025. On June 25, they quietly shut down their public blockchain and token ecosystem—without any official announcement—freezing the value of $RWN and halting all trading activity, with token value collapsing over 99.9%.

Investors were left with worthless assets and no refund or exit plan—Telegram and social channels were deleted, trading was halted, and Rowan’s founders, including CEO David Duckworth, disappeared from public view.

The project offered liquidity for smaller investors.

Despite shutting down its public-facing token ecosystem, the Rowan blockchain still shows active RWN transaction flows, with numerous transfers logged recently.

Observers continue to debate whether this qualifies as fraud or a “coordinated exit.” Although there are no confirmed legal actions yet, the scale and nature of the collapse could prompt regulatory or investor-driven investigations.

Community sentiment continues to push for a full forensic audit. The April exposé revealed unauthorized minting abilities and contradicted public statements on token supply, which many argue is a clear red flag.

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Rowan Energy, a blockchain-based green energy project, collapsed in June 2025 after an exposé revealed hidden token minting functions and a misleading token supply, contradicting public claims. Despite promoting transparency and sustainability through its SmartMiner and Proof-of-Useful-Generation model, the project operated a private blockchain lacking real on-chain energy validation. It abruptly shut down without warning, deleting channels, halting trading, and leaving investors with worthless RWN tokens—prompting calls for a full audit and raising serious concerns about fraud and governance.

QUADRIGA INITIATIVE

CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM

A COMMUNITY-BASED, NOT-FOR-PROFIT

UNKNOWN

JUNE 2025

GLOBAL

ROWAN ENERGY

DESCRIPTION OF EVENTS

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