Architect of The DAO Stefan Tual Leaves Ethereum Community

Stefan Tual, the man who stood at the origins of the ill-fated The DAO project, has left the Ethereum community, of which he had been a participant for nine years. The report comes from The Block.

“I cannot, with a clear conscience, continue to behave as if in Web3 everything is fine,” he wrote in a letter addressed to the organizers of the Ethereum London meetup.

He elaborated on his decision in a Reddit post.

“As of August 15, 2022, ‘the blockchain’ (or should I use the hedge funds’ coined term ‘distributed ledger’?) has turned into a circus of centralized NFTs, endless Ponzi schemes, illegal securities, and sycophants and turncoats swearing loyalty to the first regulator they meet. I do not recognise my belonging to this space, not a drop,” he wrote.

He added that he now intends to focus on other technologies — such as mesh networks and mesh-сетей и программно-определяемой радиосистемы.

Tual joined the Ethereum team in January 2014 as the director of communications. In September 2015, he left the post to launch the startup Slock.it.

The latter developed a framework for creating DAO. In the same year, with Slock.it’s involvement, the The DAO project appeared. In 2019, the startup was acquired by Blockchains, a Nevada-based investment firm.

After the collapse of The DAO, Tual faded from view, but remained active in the Ethereum community. He left Slock.it in 2017 to establish a cryptocurrency-focused business incubator. He also continued to host events in London related to the second-largest cryptocurrency by market capitalization.

Earlier, journalist Laura Shin stated that Toby Hoenisch, a former TenX co-founder, was involved in The DAO hack.

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