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An Ethereum insider has made allegations in opposition to Ethereum’s founders, claiming that their fraudulent actions far surpass these seen within the infamous FTX fraud case. 

Ethereum’s Credibility Under Spotlight

Attorney and former Advisor for ETH, Steven Nerayoff just lately printed a surprising piece about Ethereum in an X (previously Twitter) publish on Thursday. 

The lawyer who has private information of ETH having labored for the blockchain community beforehand, has come ahead with explosive allegations concerning the actions of Ethereum founders, Vitalik Buterin, and Joseph Lubin. 

According to Nerayoff, these two Ethereum founders have allegedly orchestrated fraudulent activities concerning the ETH blockchain that exceed the dimensions of the actions dedicated by Former CEO and founding father of FTX, Sam Bankman-Fried. 

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

The FTX case which has been within the headlines for a couple of yr was one of many main crypto fraud instances which resulted within the monetary lack of many traders. About $8 billion in buyer funds were found misappropriated in FTX accounts and tens of millions had been transferred right into a subsidiary firm, Alameda Research owned by Bankman-Fried. 

The founding father of FTX was just lately found guilty on all seven charges of fraud and conspiracy on Thursday. Bankman-Fried additionally stands to serve probably over 100 years in jail which is the quantity the costs result in. 

Nerayoff has not supplied any concrete proof to assist his claims in opposition to ETH founders’ alleged fraudulent actions. But that is additionally not the lawyer’s first time focusing on ETH founders with corrupt accusations. 

Earlier in September, the previous Ethereum advisor accused Vitalik Buterin and his father, Dmitry Buterin of a mixed effort to destroy his repute by accusing him of the extortion of an ETH ICO. 

Insider Says ETH Linked With Corrupt US Officials

Following his assertion of Ethereum allegedly being concerned in fraudulent schemes larger than Sam Bankman-Fried’s FTX fraud case, Steven Nerayoff disclosed that founders Joseph Lubin and Vitalik Buterin have allegedly been colluding with corrupt US authorities officers from a few of the highest federal businesses. 

The former advisor talked about distinguished authorities figures that Ethereum might have had secret dealings with together with current 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 mentioned. 

Nerayoff’s allegations recommend that Ethereum’s corruption runs deep and excessive, permitting the platform to have an unfair benefit within the crypto area. The claims that are but to be verified, have raised questions and considerations amongst many crypto neighborhood members. 

ETH bulls keep management | Source: ETHUSD on Tradingview.com

Featured picture from CoinGape, chart from Tradingview.com