Alameda-Backed ‘Samcoins’ CEO Alex Grebnev Sued by CoinTelegraph Owner Gregory Fishman

Alex Grebnev, CEO of the Maps.me (MAPs) and Oxygen (OXY) cryptocurrency projects intimately linked to Sam Bankman-Fried’s failed FTX empire, is being sued by Gregory Fishman, reportedly an proprietor of crypto quality tract CoinTelegraph connected allegations of money misappropriation.

The case, Fishman v. Grebnev, was archetypal filed with the commercialized part of London’s High Court backmost successful November of 2022 and past updated connected May 22. The lawsuit concerns allegations of misappropriated funds and the theft of ideas relating to Grebnev’s unfinished crypto projects, according to a idiosyncratic acquainted with the matter. The MAPs and OXY token projects, heavy backed by Alameda Research and Sam Bankman-Fried, person go portion of a radical known colloquially arsenic “Samcoins.”

“Fishman alleges Grebnev misappropriated funds backing definite crypto projects. In addition, Fishman claims Grebnev entered into a concern narration with him and past terminated it upon Sam Bankman-Fried offering Grebnev funds. Fishman contends that Grebnev stole his ideas,” the idiosyncratic told CoinDesk.

In January 2021, Bankman-Fried’s Alameda Research led a $50 cardinal investment into crypto-based Google Maps alternate Maps.me, and a period aboriginal it led a $40 cardinal investment circular successful decentralized concern (DeFi) broker Oxygen with the anticipation of integrating Oxygen into Maps.me. CMS, Multicoin and Genesis, a subsidiary of CoinDesk genitor institution Digital Currency Group, besides participated successful the money raise.

Fishman and Grebnev did not respond to requests for comment.

Russian-born Grebnev, a Cambridge University educated mathematics whiz, worked astatine Goldman Sachs earlier getting progressive with crypto start-ups successful 2018.

Fishman is reported to person joined capitalist Gerard Lopez astatine the helm of London-based crypto concern steadfast Lydian Group, whose portfolio of companies includes CoinTelegraph, CrossTower and Bequant.