The victims of the Eminence (EMN) theft have launched a crowdfunding campaign to sue the inventor of Yearn Finance, Andre Cronje
A group of investors is crowdfunding a lawsuit against Yearn.finance (YFI) founder Andre Cronje, Kirby and Banteg over the EMN scandal on behalf of the victims.
The crowdfunding campaign will last 30 days, ending on November 9 2020 at 11:59 PM UTC. The group said 100% of the donations would be used to finance the lawsuit. The group added.
“As a way to thank you for your donation, we will take a snapshot at the end of the crowdfunding campaign, and airdrop 50% of the supply of a fork of YFI to donators. The other 50% of the supply will be airdropped to the victims of the EMN scandal. We will create a new DeFi ecosystem, but without the bad actors.”
Back in last month, a vulnerability on Ethereum DeFi project called Eminence allowed a hacker to steal $15 million. While the project’s developer Andre Cronje claimed that Eminence was still in a test phase, investors rushed into the new project despite the warnings. A group of victims, however, does not want to settle for that and have organized itself to hold Cronje and other suspected partners accountable.
In addition, “Yearn Finance’s head of communications”, BlueKirby, allegedly promoted the contracts and gave instructions on their use while a Yearn Finance developer named Banteg “sold tokens from the contract” to the Uniswap exchange. After the robbery, the attacker returned $8 million to Andre Cronje without offering any reason, as the EMN Investigation concludes:
“If EMN was a test, it had zero value as a token. Yet Andre watched as $15 million poured in without a word. But kept hyping the project by retweeting. Why didn’t he at least warn the Yearn Finance team that they were buying and selling a worthless test token? If developers from any other team started hyping and selling a test token, they would be accused of fraud and the entire team would lose legitimacy. At best, this was a viral launch gone bad, at worst, it was a rug pull.”
Andre Cronje tweeted on October 10 that he has not stopped developing technology but has stepped back from Twitter. Blue Kirby has since deleted his Twitter.
Still here. Still building. Nothing has changed. Anyone that says otherwise fuck off. I’m just done tweeting and being on social media.
— Andre Cronje (@AndreCronjeTech) October 9, 2020
Read more:
- Eminence, An Unreleased Project Being Built By Yearn’s Andre Cronje Has Been Drained Of $15 Million
- The Ongoing Move Lower In Yearn.Finance Price Comes In Spite Of Strength In The Rest Of The DeFi Market