Ex-IOTA Dev Threatens Foundation Director With Legal Action Over $8 Million

Cointelegraph

Published Feb 06, 2020 07:40AM ET

Updated Feb 06, 2020 09:42AM ET

Ex-IOTA Dev Threatens Foundation Director With Legal Action Over $8 Million

A co-founder and former lead developer of the decentralized network IOTA, Sergey Ivancheglo, has IOTA Foundation director David Sønstebø with a lawsuit over 25 million MIOTA (over $8.5 million).

Ivancheglo announced that he is contacting his lawyers to obtain the assets from Sønstebø in a tweet sent on Feb. 2. The coins that he claims belong to him are half of the holdings of the IOTA Foundation:

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