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Former IOTA Lead Developer Threatens Foundation Director With $8.5M Lawsuit

Roland James

Summary: Sergey Ivancheglo, the co-founder and former lead developer of the decentralized network IOTA, has filed a lawsuit for over 25 million MIOTA (over $8.5 million) against IOTA Foundation director David Sønstebø. Ivancheglo announced in a tweet on Feb. 2, that he is contacting his lawyers to obtain the assets from Sønstebø. The former lead developer claims ...

Sergey Ivancheglo, the co-founder and former lead developer of the decentralized network IOTA, has filed a lawsuit for over 25 million MIOTA (over $8.5 million) against IOTA Foundation director David Sønstebø.

Ivancheglo announced in a tweet on Feb. 2, that he is contacting his lawyers to obtain the assets from Sønstebø. The former lead developer claims that he is owed half of the holdings of Jinn Labs, a ternary computing development firm they jointly launched.

By Roland James

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