SushiSwap Executive chief Jared Grey Is Accused Of Multiple Frauds

The recently recruited head chief of the decentralized cryptocurrency exchange SushiSwap, Jared Grey was accused of various frauds and copyright violations. Twitter user “YannickCrypto” made the accusations against Grey, calling him a “scammer and con artist.”

According to YannickCrypto, Grey’s alleged illegal activities extend back to 2012, when he reportedly scammed people via his “MultiPlex PC” firm. The charges further said that Grey, the CEO of ALQO, misappropriated 70% of the entire supply using the online wallet solution for the protocol.

Monday’s post further accused Grey of receiving Bitcoin (BTC) in 2019 as a listing fee on the Bitfineon cryptocurrency market. According to a tweet from YannickCrypto, the exchange never went online, and Grey reportedly grabbed roughly 20 BTC.

Grey is also suspected of many additional frauds employing decentralized finance (DeFi) technologies and many cross-chain bridges.

SushiSwap’s native token SUSHI dropped 10% in response to the rumours. According to data from TradingView, SUSHI traded at about $1.22 at the time of publication.

Jared Grey rejected all allegations made against him in a post, claiming that they are “100% false.” The executive chef of SushiSwap replied directly to the Bitfineon scandal, stating that a business partner stole the monies and was then dismissed.

Grey claims that impacted consumers were also compensated. On October 3, 2022, Jared Grey was appointed executive chef at SushiSwap after a vote that barely approved his appointment. Although SushiSwap runs as a decentralized platform administered by a DAO, a decentralized autonomous organization, the function of a head chef is comparable to that of the CEO.

Also Read: Turkey Aims To Become A Crypto And Blockchain Centre

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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