The IOTA co-founder threatened to sue the project management for a 25 million IOTA
Sergey Ivancheglo, one of IOTA’s founders, said IOTA is getting more involved with other co-founders. In contrast to other settlements, Ivancheglo alleges that billions of IOTA tokens have not been handed over to them and will sue for fairness.
Ivancheglo asked to reclaim 25 million IOTA
Ivancheglo personally said that the IOTA network is having more conflicts with its members. This time, he accused co-founder David Sonstebo of not sending himself 25 million IOTA as promised. To prove that things are severe, Ivancheglo has made the community crazy after having announced the sale of all his tokens because of previous conflicts of interest. However, the disputes between him and the founding team did not surprise the community very much.
I notify the #IOTA community that I no longer work with David Sønstebø and am contacting my lawyers to get my 25 Ti from him. He refuses to transfer the iotas to make me act for his own benefit and against mine.
— Come-from-Beyond (@c___f___b) February 2, 2020
In 2018, Ivancheglo had disagreements with other co-founders on the choice of board members. At the time, he opposed President Dominik Schiener’s cancellation of the meeting and prevented Ivancheglo and co-founder Serguei Popov from joining the council. In the end, the two names were still on the board, but it seemed that they had fallen into a state of “fair face but not satisfied.” Currently, Dominik Schiener is still holding the position of director at the IOTA Foundation, despite many requests for him to resign.
IOTA price has not decreased despite internal stress
Unreasonable disagreements among co-founders made the community concerned about a plunge of IOTA price. However, it seems that the IOTA hodlers have eliminated the possibility that Ivancheglo could impact the price as well as the future of this protocol. Even when he decided to leave the organization. Because David Sonstebo has announced that the project will continue to grow despite recent moves from Ivancheglo and welcome a positive response from the community.
— IOTA_FUTURE (@_velaroja) February 2, 2020
The network has previously reported on a potential partnership with IBM, despite several problems and limitations. At press time, IOTA prices had dropped 6% after rising 12% on the day to reach $ 0.34. IOTA has increased by 34% in the past week, after falling to the bottom of December at $ 0.15.
Letter to the IOTA community from Dominik Schiener
The content of the message is about the founding journey and working hard to set up the IOTA network. Despite many efforts, all these efforts to avoid trouble are in the hands of greedy people. Looking back, at least they had enough time to prove the IOTA Foundation is providing software, research, and application at an increasingly fast pace while Ivancheglo himself did nothing.
Therefore, the inevitable happened; according to Schiener, Ivancheglo no longer listened to partners related to the business of the network. And like any co-founder of IOTA, after unable to resolve the conflict, they are forced to leave because they no longer have the same goal.
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