David Sønstebø Ousted from the IOTA Foundation

The IOTA Foundation’s board of directors and Supervisory Board have unanimously decided to remove the founder of the IOTA blockchain project, David Sønstebø, from the organisation.

The IOTA Foundation would like to announce that it has parted ways with David Sønstebø. This was a unanimous decision, made by the Supervisory Board in the best interest of IOTA and its ecosystem. Please read our full announcement here: https://t.co/A23i9ZKZva

— IOTA (@iotatoken) December 10, 2020

“David played an important role in creating the project and helped shape the team, vision and ecosystem. But it became clear that David’s interests and those of the IOTA Foundation diverged substantially,” the statement said.

The organisation cited several instances where Sønstebø’s actions did not align with IOTA’s development policy.

Previously, a dispute between Sønstebø and former board member Sergey Ivancheglo occurred. Community representatives monitored the founders’ Twitter exchanges.

In February 2020, unknown attackers targeted the blockchain project’s desktop wallet. Losses amounted to about $2.4 million.

Sønstebø pledged to compensate the damage caused to users from his own funds.

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