2 years ago
The co-founder of the nonfungible token (NFT) task Rebase is facing a suit from his evident concern spouse accusing him of going “rogue” by stealing $2 cardinal from a associated crypto wallet and ousting an evident co-founder retired of the firm.
An April 17 filing successful a United States District Court successful California from Krzysztof Gagacki, who says they’re the co-founder of Rebase, made 8 abstracted complaints against the firm's different co-founder Edmond Truong.
Gagacki is demanding a assemblage proceedings for breach of contract, breach of fiduciary duty, defamation and trademark infringement.
While it is unclear precisely erstwhile the nonrecreational narration betwixt the 2 deteriorated, Gagacki alleged Truong breached a concern declaration connected Oct. 27. 2022 by misappropriating $2 cardinal into a abstracted wallet owned and controlled by Truong without his consent.
Gagacki claims to ain a 50% stock of the funds and says Truong refuses to supply him with the backstage keys to the integer wallet.
Krzysztof Gagacki, co-creator of https://t.co/oBDvtTLDqk and the "Cy-B3lla" Bella Hadid NFT project, sued his co-founder contiguous for allegedly stealing $2,000,000 and "going rogue." pic.twitter.com/I3DTFR6ZhM
— Rob Freund (@RobertFreundLaw) April 18, 2023In the filing, helium claims Troung “ousted” him from the concern by presenting himself to 3rd parties arsenic the “sole owner” and “decision maker” for Rebase.
Gagacki further alleges that Troung is stating Gagacki is nary longer “employed” astatine the steadfast aft things had “gotten a spot retired of hand.” A LinkedIn relationship owned by Gagacki does not database an employment past astatine Rebase.
Truong besides allegedly “intentionally interfered” with respective prospective deals that Gagacki had been moving connected for the steadfast successful summation to making respective defamatory statements to the firm’s concern contacts astir Gagacki.
Gagacki claims these statements person had a “disastrous effect” connected his reputation.
One of the deals progressive American personage Bella Hadid, who featured successful the firm’s Cy-B3lla NFT task but past refused further collaboration aft it was made evident to her that the 2 concern partners clashed heads, the filing claimed.
Truong besides allegedly seized a Twitter relationship relating to Hadid’s NFT postulation which Gagacki claims to person the trademark rights for with his different company, IOVO AG:
“[Truong] has besides commandeered the @REBASEgg and @cybellaxyz Twitter accounts. Specifically, [Truong] has changed the password for these accounts and is actively denying Mr. Gagacki access.”Another assertion mentioned by Gagacki was Truong’s unauthorized pursuit to contented a Rebase token connected the Ethereum furniture 2 scaling solution Arbirtrum.
Related: ‘Wave of litigation’ to deed NFT abstraction arsenic copyright issues abound
If a token is issued, determination whitethorn person superior ramifications for Rebase, the filing explained:
“If a Rebase app token is listed connected immoderate large cryptocurrency exchange, the marketplace worth of the tokens, which volition beryllium minted connected the Arbitrum web and offered to the public, could scope galore times implicit the Rebase app’s past circular valuation of $150,000,000.”According to the firm’s Twitter account, Rebase is acceptable to integrate connected Arbitrum connected April 21:
— Rebase (@REBASEgg) April 11, 2023The firm’s $150 cardinal valuation has travel connected the backmost of task superior backing from Animoca Capital, Anti Fund Investment Fund, LLC, DeFiance Capital and the now-bankrupt Three Arrows Capital.
Cointelegraph contacted Gagacki, Truong and Rebase but did not person an contiguous response.
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