Ethereum insider Archives

Amid the ongoing Ethereum scandal, former Ethereum advisor and attorney Steven Nerayoff has recently revealed how he plans on sharing proof of Ethereum founders’ fraud activities in the early days of the cryptocurrency asset.

Ethereum Founders’ Fraudulent Acts To Be In Lawsuit

Following an X (formerly Twitter) post by a user Heidi from Crytotips, the crypto enthusiast was seen trying to underscore the lack of authenticity from Nerayoff’s claims. According to her, his accusations were a no-brainer due to the disclosure lacking proof of his accusations.

However, Nerayoff in response to the video, asserted that he never claimed his accusations were going to be in the disclosure highlighting the crypto enthusiast’s lack of proper research. He further added that he is going to reveal the fraudulent acts of the founders in his lawsuit.

Nerayoff had always noted that his recording was not actually linked to his accusations but rather his involvement with Vitalik Buterin. “The recording isn’t directly related to the fraud but will illuminate a lot of what was happening & show my involvement. The fraud will be in the lawsuit,” Nerayoff stated.

Furthermore, the crypto expert also pointed out Nerayoff’s accusations towards federal agencies. According to her, the former advisor was a little paranoid with his accusations.

During an X space, Nerayoff accused some high federal agencies of fabricating evidence against him in order to take him out. These include the SEC, FBI, and the DOJ.

Nonetheless, in response to that, Nerayoff has asserted that this was actually proven and publicly filed. “The paranoia about the agencies? Well, that’s actually proven & publicly filed,” Nerayoff stated.

Crypto Asset Is Not Decentralized From The Onset

It appears Nerayoff’s claims about ETH not being decentralized from the early days are authentic.

The post also saw the crypto enthusiast pointing out Nerayoff’s claims of ETH not being decentralized from the beginning. According to her, cryptocurrencies are not expected to be decentralized from the start and only the core team members know about a crypto asset from the start.

If the expert is right then this basically means Will Hinman’s speech in 2017, about the asset being decentralized from the start was inaccurate.

During the early days of the asset, Hinman asserted the decentralized nature of ETH, when it was considered as a security by the SEC. According to him, ETH was too decentralized to be considered a security.

So far, both founders still have not responded to Nerayoff’s accusations. Nerayoff believes that their silence is due to the evidence he has against them.

“Vitalik & Lubin are vicious if they have leverage. Lubin said to me in July 2018 about a network “It’s a centralized piece of sh*t” right after the Hinman speech! They stay silent because I’ll drop more receipts,” Nerayoff stated.

Featured image from Pixabay

Nerayoff Accuses Buterin Of Invention Replication

Former Ethereum Advisor, Steven Nerayoff has taken to X (formerly Twitter) to accuse Ethereum Founder, Vitalik Buterin of copying his inventions. Nerayoff criticized the intelligence of the current Ethereum leadership, making contentious remarks about Buterin and co-founder of Ethereum, Joseph Lubin.

“Vitalik slept on my couch & copied my inventions. He and SBF are images. They’re not smart because something seems off, something is off. The recording shows his and Joe’s stupidity and ignorance. Hear who understood Ethereum, me or them,” Nerayoff stated.

The former ETH Advisor continued on his tirade of allegations, casting doubts on Buterin’s contributions to the network. He stated that Buterin had never invented anything substantial and that the ETH founder was the sole reason behind the network never scaling.

The accusations also suggested that the only significant achievement in the Ethereum ecosystem was the issuance of utility tokens on ICOs, which Nerayoff claimed he had invented.

Nerayoff also made startling revelations, accusing Buterin and Lubin of deliberately damaging the cryptocurrency by focusing on issuing fraudulent ICOs to unsuspecting investors and potentially harming them.

“Did Vitalik invent anything? No, he did not. Ethereum never scaled bc of him. The only killer app was issuing Utility Tokens on ICOs, both of which I invented. Vitalik & Lubin sabotaged crypto. Their focus was merely to issue hundreds or thousands of fraudulent ICOs fleecing people,” Nerayoff stated.

Ethereum Founder’s Scalability Competence Questioned

In an X post on Tuesday, Stephen Nerayoff presented thought-provoking questions to the crypto community about Vitalik Buterin’s Ethereum scalability capabilities.

Nerayoff released a video on X by a community member, Mr. Huber which featured Vitalik Buterin describing plans for the ETH Network. He told the crypto community to remember the video when he eventually released evidential recordings of his conversation with Buterin about his ideas for ETH 2.0.

“Remember this video when I drop the recording and what I tell Vitalik about 2.0 and to fix misaligned incentive structures. Is Vitalik the savior they bill him as to make Ethereum scale or is he the reason it never scaled? Decide for yourselves,” Nerayoff stated.

The question raised by the former ETH Advisor has sparked debates and differing opinions about the Ethereum Founders. Although no proper evidence has been presented regarding the accusations laid against Buterin, the crypto community continues to watch and analyze the situation as it unfolds.