Investors threaten to sue the head of the yEarn.Finance project

A group of investors, EMN Investigation opened a fundraising drive to finance a lawsuit against yEarn Finance founder André Cronje. The grievance stemmed from the hack of the unfinished DeFi project Eminence.

The lawsuit also threatens Cronje’s colleague known by the handle @bantg and an active supporter of the project Blue Kirby. The fundraising campaign will run until 9 November 2020.

EMN Investigation plans to fork yEarn Finance, distributing 50% of the coins to crowdfunding participants and to those harmed by the Eminence scandal.

«We will build a DeFi ecosystem, but without the wrongdoers», the investors said.

The Eminence project, still unfinished, attracted $15 million. On September 29, a hacker took advantage of a deployment set up for testing the ecosystem and drained all the funds. He later returned $8 million to the deployment account on yEarn Finance.

Cronje promised to distribute the funds among users and claimed that the contract had been launched for closed testing. EMN Investigation believes that in such a case @banteg and Blue Kirby should not have promoted Eminence so aggressively.

«If EMN had been operating in a test mode, its token would have had zero value. But André Cronje silently watched as $15 million flowed in, and continued promoting the project with retweets», the investors noted.

They added that in a similar situation with another project from the developers, they would have faced fraud accusations.

As Cronje said after the hack, he received threats. After that he stopped using Twitter and moved to Medium. The move was attributed to pressure on the founder of yEarn Finance, confirmed by developer @bantg.

Subscribe to ForkLog news on Twitter!