Steven Nerayoff’s impending disclosure about alleged fraudulent activities by ethereum founders Vitalik Buterin and Joe Lubin is getting closer, with a reveal scheduled in just 48 hours.
Nerayoff, a figure with deep knowledge of the early days of ethereum, has spoken out in recent weeks about alleged misconduct by the platform’s founders. This early reveal, scheduled for November 16, follows a series of allegations that Nerayoff says dwarf even the notorious FTX scandal.
ethereum Insider begins 48-hour countdown
Speaking via X (formerly Twitter), Nerayoff revealed that the publication of his evidence of the fraud accusations against the founders of ethereum “should happen within 48 hours, hopefully less. Logistics, setting up smart NFTs, etc.
His recent communications have increasingly targeted Buterin, suggesting deeper involvement in alleged fraudulent activities. He stated: “Remember this video when I leave the recording and what I tell Vitalik about 2.0 and how to fix misaligned incentive structures. Is Vitalik the savior they attribute to making ethereum scale or is he the reason why it never scaled? Decide for yourselves.”
Nerayoff went on to question the originality of Buterin’s contributions: “Did Vitalik invent something? No, he didn’t. ethereum never scaled because of it.” Furthermore, he accuses Buterin and Lubin of deliberately focusing on the proliferation of what he claims were fraudulent ICOs, thus hampering the entire crypto sector.
He states: “(The) only great application was the issuance of utility tokens in ICOs, which I invented. Vitalik & Lubin sabotaged cryptocurrencies. Their goal was simply to issue hundreds or thousands of fraudulent ICOs to fleece people.” Nerayoff further touts that Joe Lubin’s ConsenSys’ “only revenue-generating business” in the early days was “issuing ICOs primarily through Token Foundry.”
The ethereum expert also questioned the effectiveness of Buterin’s whitepaper, and credited Gavin Wood for ethereum‘s initial success: “His (Buterin’s) whitepaper was unworkable. Gavin fixed it on his yellow paper and he’s the reason 1.0 walked out the door. “Vitalik is the reason 2.0 never made it out the door.”
In a stark statement, Nerayoff positions himself as a whistleblower, determined to expose a decade of corruption: “Look, I’m going to be strategic and only focus on what I can prove, not just allege. I’m only doing it to reveal the truth but then others will have to unravel the rest of the 10 years of corruption. I know: the free pass is going to cost someone something.”
Why don’t Buterin and Lubin defend themselves?
He also questioned the lack of legal action against him, suggesting that the absence of denials or lawsuits gives credibility to his accusations: “Why is no one suing me for these ‘scandalous’ accusations? They have armies of lawyers and billions of dollars. No one will even deny that they did unethical things, they ignore it. “If I was clean, I would just say no.”
Notably, Nerayoff also revealed today that he has been contacted by many involved parties since he spoke publicly about the ethereum fraud, underscoring the seriousness of his allegations:
“I made sure this story was made public and it wasn’t up to me to provide information to major press before coming forward. Let us not observe a single denial or even answers to basic questions about impropriety from anyone. You wonder how deep and wide this goes.”
At press time, ethereum price stood at $2,030 after being rejected at the yearly high.
Featured image from Bloomberg.com, chart from TradingView.com
