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The Daily Hodl 2024-12-29 17:55:54

Solana Co-Founder Sued for Allegedly Stealing ‘Millions of Dollars’ Worth of Crypto Staking Rewards: Report

A co-founder of Ethereum ( ETH ) rival Solana ( SOL ) is reportedly facing a lawsuit for allegedly misappropriating the income earned from his former wife’s crypto holdings. Bloomberg reports that Elisa Rossi has filed a complaint with the San Francisco Superior Court accusing her ex-husband Stephen Akridge of stealing millions of dollars worth of staking rewards gained from her Solana tokens. Staking rewards are similar to interest earned from a bank deposit. Crypto holders who participate in the staking process lock their assets for a certain period to validate blockchain transactions and earn more tokens as a reward. The complaint says the dispute started after Akridge and Rossi filed for divorce in February 2023. Rossi alleges that from early March to mid-May, Akridge operated and controlled the accounts in issue and received all of the SOL token commissions. Rossi says that Akridge, who served as principal engineer at Solana and is now the CEO of California-based cybersecurity company Cyber Grant, “took advantage of the significant disparity in expertise in cryptocurrencies and blockchain that he possessed.” The value of the tokens in dispute is blacked out in the suit but Rossi says a significant sum is involved. She is seeking damages for claims and contends that Akridge engaged in breach of contract, unjust enrichment and fraud. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Solana Co-Founder Sued for Allegedly Stealing ‘Millions of Dollars’ Worth of Crypto Staking Rewards: Report appeared first on The Daily Hodl .