The Founder of CipherBlade Accuses New Management of Stealing Assets and Committing Fraud
The founder of blockchain investigations firm CipherBlade, Richard Sanders, has filed a complaint alleging that new management stole company assets, forged signatures, and took items from his home. CipherBlade, based in Pennsylvania, specializes in assisting government agencies, private companies, and individuals in investigating financial crimes, particularly cybercrime.
Deception and Misrepresentation
The lawsuit claims that the defendants made false representations to Sanders before and after his trip to Ukraine. They gained access to his accounts, stole trade secrets such as confidential investigation information and customer lists, and redirected clients to other entities in Alaska and Singapore.
Fake Firing
One of the defendants, Manuel Kriz, joined CipherBlade in 2021 with limited authority and administrative access. Kriz, along with another defendant named Michael Krause, convinced Sanders to grant them access to an email address. However, Sanders later became suspicious when they requested access to a separate email account. Despite directing Kriz’s termination, he discovered that it was a charade as Kriz continued working for CipherBlade and conspired with other defendants.
Physical Theft
While Sanders was in Ukraine, he received notifications from his home security system about his security cameras going offline. Upon returning home, he found that important business documents were missing. He also discovered a U.S. Postal Service receipt for a package fraudulently sent to Cyprus using his name and credit card information without permission.
Severing Ties
Sanders announced on LinkedIn that he had no choice but to publicly sever ties with CipherBlade due to the alleged misconduct, theft, and fraud committed by those now in control of the company. He emphasized that he has had no involvement with CipherBlade for months.
Hot Take: Allegations of Misconduct and Fraud Plague CipherBlade
The founder of CipherBlade, Richard Sanders, has accused new management of engaging in theft, fraud, and misconduct. The lawsuit alleges that the defendants deceived Sanders and stole valuable assets from the company. Additionally, they redirected clients to other entities and forged signatures. Sanders also claims that his home was targeted, with important documents and business filings disappearing. With these serious allegations, it remains to be seen how CipherBlade will address the situation and regain trust in its operations.
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