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Ethereum Co-founders are 1000x Bigger Fraudsters Than SBF, Ethereum Insider Alleges

By Nsikanabasi Edet Nov8,2023
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Last updated on November 13th, 2023 at 11:04 pm

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An Ethereum insider, Steven Neraoff, has alleged that the fraud and corruption practised by ETH co-founders supersedes that of the infamous FTX founder.

Insider Drops a Bombshell

Steven Nerayoff, an Attorney and an early advisor for Ethereum recently made a bold allegation against his former teammates Vitalik Buterin and Joseph Lubin. 

In his post published on X, he alleged that they both (ethereum-founders) have committed much more fraud than the recently convicted FTX founder Sam Bankman Fried.

“Ethereum is the fraudulent elephant in the room in plain sight 1000x bigger than SBF,” Nerayoff stated. 

Remember,  the FTX case, in the headlines for about a year, was one of the largest crypto fraud cases, resulting in over $8 billion in financial losses. 

Read Also: Top 10 Crypto Companies That Have Survived for Over a Decade.

Customer funds were found misappropriated and transferred into a subsidiary company, Alameda Research owned by FTX founder Bankman-Fried. 

The founder of FTX was recently found guilty on all seven charges of fraud and conspiracy on Thursday. 

Bankman-Fried also stands to serve potentially over 100 years in prison per the charges he was found guilty of.

Ethereum Linked With Corrupt US Officials

As a follow-up to his allegations, Neraoff disclosed that founders Joseph Lubin and Vitalik Buterin have allegedly been colluding with corrupt US government officials from some of the highest federal agencies. 

The former advisor mentioned prominent government figures that Ethereum may have had secret dealings with including present United States Securities and Exchange Commission (SEC) Chairman, Gary Gensler and former US SEC Chairperson Jay Clayton. 

“Joe Lubin and Vitalik Buterin have been at the front with corrupt officials at the highest levels of federal agencies such as Clayton, Gensler & many others,” Nerayoff said. “Cover this now” he added.

The claims, although unverified and without any substantial evidence from the former Ethereum team player, have raised questions and concerns among many crypto community members. 

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