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CipherBlade founder Richard Sanders has filed a lawsuit against the firm's current executives, accusing them of stealing assets and forging documents.
Sanders created the Pennsylvania-based company in 2019, which helps federal government agencies, private companies, and individuals investigate blockchain-related financial crimes.
According to the statement, when Sanders went on a volunteer trip to Ukraine in 2022, the project began to have problems. Defendants Manuel Critz and Michael Krause convinced the firm's founder to grant them access to the email address while he was on a business trip.
"Knowing that Sanders would be in Ukraine before and immediately after his departure, the defendants provided him with distorted data to gain access to his accounts. They violated trade secrets by stealing confidential investigation information, customer details, etc., and also stole access to CipherBlade PA's business itself," the document says.
The defendants allegedly diverted customers to a rival company in Alaska and Singapore. When Sanders began to suspect something was wrong, he asked to fire Critz, but this never happened.
"Critz continued to cooperate with CipherBlade PA and colluded with other defendants to participate in the [criminal] scheme," the statement said.
While still abroad, Sanders received alerts from the home security system, which notified him when the security cameras were turned off. Returning home, the head of CipherBlade discovered the loss of business documents.
"For all these reasons, I have no choice but to publicly sever ties and warn everyone that I no longer control CipherBlade and am not associated with it," Sanders wrote on LinkedIn.
Representatives of the company responded in a social network that Sanders was never the owner and "refused to actively participate in CipherBlade operations" in recent years.
Recall that in August, the co-founders of the gaming blockchain platform Gala Games, Wright Thurston and Eric Schirmeyer, filed lawsuits against each other on charges of embezzlement and embezzlement of the company's assets for $130 million.
Sanders created the Pennsylvania-based company in 2019, which helps federal government agencies, private companies, and individuals investigate blockchain-related financial crimes.
According to the statement, when Sanders went on a volunteer trip to Ukraine in 2022, the project began to have problems. Defendants Manuel Critz and Michael Krause convinced the firm's founder to grant them access to the email address while he was on a business trip.
"Knowing that Sanders would be in Ukraine before and immediately after his departure, the defendants provided him with distorted data to gain access to his accounts. They violated trade secrets by stealing confidential investigation information, customer details, etc., and also stole access to CipherBlade PA's business itself," the document says.
The defendants allegedly diverted customers to a rival company in Alaska and Singapore. When Sanders began to suspect something was wrong, he asked to fire Critz, but this never happened.
"Critz continued to cooperate with CipherBlade PA and colluded with other defendants to participate in the [criminal] scheme," the statement said.
While still abroad, Sanders received alerts from the home security system, which notified him when the security cameras were turned off. Returning home, the head of CipherBlade discovered the loss of business documents.
"For all these reasons, I have no choice but to publicly sever ties and warn everyone that I no longer control CipherBlade and am not associated with it," Sanders wrote on LinkedIn.
Representatives of the company responded in a social network that Sanders was never the owner and "refused to actively participate in CipherBlade operations" in recent years.
Recall that in August, the co-founders of the gaming blockchain platform Gala Games, Wright Thurston and Eric Schirmeyer, filed lawsuits against each other on charges of embezzlement and embezzlement of the company's assets for $130 million.
