ethereum‘s Founders Accused of Fraudulent Activities Exceeding FTX Case
ethereum‘s Credibility Under Spotlight
Steven Nerayoff, an attorney and former advisor for ethereum (ETH), recently made shocking claims about the blockchain network in a post on X (formerly Twitter). Having personal knowledge of ETH from his previous work, Nerayoff accused ethereum founders Vitalik Buterin and Joseph Lubin of orchestrating fraudulent activities on the ETH blockchain that surpass the scale of the actions committed by Sam Bankman-Fried, the former CEO and founder of FTX.
Nerayoff stated, “ethereum is the fraudulent elephant in the room in plain sight 1000x bigger than SBF.”
The FTX case, which has been in the headlines for about a year, involved one of the leading crypto fraud cases that resulted in significant financial losses for investors. Approximately $8 billion in customer funds were misappropriated in FTX accounts, with millions being transferred to Alameda Research, a subsidiary company owned by Bankman-Fried.
Recently, Bankman-Fried was found guilty on all seven charges of fraud and conspiracy, potentially facing over 100 years in prison.
While Nerayoff has not provided concrete evidence for his allegations against ETH founders, it is not the lawyer’s first time accusing them of corruption. In September, he accused Vitalik Buterin and his father, Dmitry Buterin, of trying to ruin his reputation by falsely accusing him of extortion related to an ETH ICO.
Insider Claims ETH Connected to Corrupt US Officials
In addition to alleging fraudulent activities surpassing the FTX case, Steven Nerayoff also claimed that ethereum founders Joseph Lubin and Vitalik Buterin have colluded with corrupt US government officials from high-ranking federal agencies.
Nerayoff mentioned prominent government figures, including current US Securities and Exchange Commission (SEC) Chairman Gary Gensler and former SEC Chairperson Jay Clayton, suggesting that ethereum may have engaged in secret dealings with them.
“Joe Lubin and Vitalik Buterin have been in cahoots with corrupt officials at the highest levels of federal agencies such as Clayton, Gensler & many others,” Nerayoff said.
These allegations suggest deep-rooted corruption within ethereum, providing the platform with an unfair advantage in the crypto space. While the claims have yet to be verified, they have raised concerns among members of the crypto community.
ethereum price chart from Tradingview.com” width=”2650″ height=”1758″/>
Featured image from CoinGape, chart from Tradingview.com
### News source: bitcoinist.com