- Steven Nerayoff, a pioneer advisor to Ethereum, is preparing a lawsuit against the Ethereum Foundation and its co-founders.
- TruthLabs has reportedly found evidence implicating the Ethereum Foundation in the Gatecoin hack of 2016.
- Another lawsuit is unfolding involving the Ethereum Foundation and MetaMask, a widely used cryptocurrency wallet.
Steven Nerayoff, a pioneer advisor to Ethereum, has recently shared an update on his impending lawsuit against the Ethereum Foundation and its co-founders, Vitalik Buterin and Joseph Lubin. The lawsuit, which is rooted in allegations of corruption and fraudulent activities, is gaining significant attention due to its potential impact on the Ethereum ecosystem.
We are working on it. The scope keeps getting bigger. It’s a monster & complicated. It’s my focus everyday and it’s become far more compelling. Nobody is more impatient than me it’s driving me mad & costing me a fortune but it has to be done right.
— Steven Nerayoff (@StevenNerayoff) January 29, 2024
Nerayoff’s involvement with Ethereum dates back to its early days, lending weight to his claims. When a community member asked about the status of the lawsuit, Nerayoff provided the next update:
“We are working on it. The scope keeps getting bigger. It’s a monster & complicated. It’s my focus every day and it’s become far more compelling. Nobody is more impatient than me it’s driving me mad & costing me a fortune but it has to be done right”.
In a bid to strengthen his case, Nerayoff has teamed up with TruthLabs (@BoringSleuth), a recognized on-chain sleuth, to unearth on-chain evidence that allegedly implicates Buterin, Lubin, and the Ethereum Foundation in fraudulent activities. Nerayoff recently commented:
“We are filing a wrongful prosecution lawsuit. But in it, I’ll be filing other aspects. We will also be making incriminating evidence from me @BoringSleuth, and others public”.
Another Lawsuit Involving MetaMask and ETH Foundation
According to multiple news outlets, TruthLabs discovered indications of the ETH Foundation’s involvement in the 2016 Gatecoin hack, which led to a loss of 185,000 ETH and 250 BTC. Nerayoff is reportedly in touch with other insiders from Ethereum who can provide significant evidence of the supposed fraudulent actions.
Nerayoff, in an extensive statement on X (formerly known as Twitter), criticized the ETH co-founders for choosing not to respond to these allegations. He interprets their silence as a tacit admission of guilt. He stated:
“So why are they silent now that specific allegations with receipts or on-chain data have been made by me & @BoringSleuth? Legal advice for criminals guilty of massive crimes is to remain silent. Vitalik, Lubin & others will be casualties. Those above will sacrifice them”.
At the same time, another lawsuit concerning the Ethereum Foundation is taking place. Joel Dietz, a key figure in the early stages of ETH, has lodged a lawsuit alleging a breach of partnership and deception over the development and subsequent management of MetaMask, a popular cryptocurrency wallet. The market didn’t react negatively to the news, as ETH had a 3.10% increase in the last 24 hours, trading at $2,372.
Dietz claims that his partner, Aaron Davis, covertly continued to develop the project and gain profits from it without informing the other partners. Nerayoff, expressing solidarity with Dietz, commented, “I’m very close friends with Joel Dietz & we were both at Ethereum in 2014”.