- In a lawsuit, Steven Nerayoff is requesting almost $10 billion in damages, claiming that federal agents “maliciously” pursued him throughout the course of a four-year court struggle.
- 2019 saw Nerayoff’s arrest on charges of extorting 10,000 ether from a cryptocurrency firm.
An early Ethereum network advisor is claiming that federal authorities “maliciously” investigated and prosecuted him, and he is suing the government of the United States for $9.6 billion.
Steven Nerayoff’s attorneys have filed a lawsuit on April 9th, claiming that government agents falsely brought federal charges against their client in 2019.
The lawsuit claims that federal officials knew the charges against Nearyoff were “factually and legally baseless,” but yet subpoenaed, surveilled, and even detained him as part of their “collective and concerted fishing expedition.”
Lawyers for Mr. Nerayoff claimed in the complaint that “federal agents and officers… launched an unhinged and unlawful, four-year campaign against him.”
2019 saw Nerayoff’s arrest on charges of extorting 10,000 ether from a cryptocurrency firm. The ensuing legal dispute came to an end in May 2023 when the US government dismissed the complaint, having lasted for around four years.
Nerayoff’s attorneys claim that their client has suffered “significant damages and injuries” as a result of the activities of federal officials.
“Mr. Nerayoff’s well-being, personal life, and career were irreparably harmed as a direct and proximate result of the wrongful conduct of federal agents and/or officers,” attorneys stated in the case.
The ten billion dollars in damages are Nerayoff’s losses as a result of the damage the lawsuit inflicted to his reputation. The lawsuit claims that Nerayoff lost out on making several billions of dollars during a crypto market boom since all of his business partners deserted him during the legal process, including “hundreds of millions of dollars from consulting contracts.”
Nerayoff is the creator of the blockchain consultancy company Alchemist.
According to a Cointelegraph article, Nerayoff has already attacked Ethereum on several occasions, leveling grave accusations against the company’s founders, Vitalik Buterin, Joe Lubin, and the Ethereum Foundation.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
