Founder Accuses Employees of “Hostile Takeover” in CipherBlade Lawsuit
The founder of CipherBlade, a blockchain forensics firm based in Pennsylvania, has filed a lawsuit in Alaska alleging that a group of employees executed a “hostile takeover” while he was volunteering in Ukraine. According to the complaint, the defendants took advantage of the founder’s absence to seize control of company assets and sensitive data, including the CipherBlade domain and social media accounts.
The lawsuit claims that the firm’s internal operations have been compromised, with clients and staff being moved to new entities in Alaska and Singapore. CipherBlade was founded in 2019 to assist federal agencies, private firms, and individuals in financial crime investigations.
Home Break-In and Stolen Documents Alleged in Lawsuit
In addition to the “hostile takeover,” the lawsuit also alleges that the founder’s home was broken into and important business-related documents were stolen. The founder discovered that his security cameras had gone offline while he was in Ukraine, and upon returning home, he found that LLCs and business filings were missing.
The complaint also mentions a fraudulent U.S. Postal Service receipt for a package sent from the founder’s home without his permission, with the package being sent to an address in Cyprus. The founder claims that his previous work with CipherBlade was leveraged by the defendants to attract clients and enhance the platform’s credibility.
CipherBlade Disputes Founder’s Allegations
In response to the lawsuit, CipherBlade’s current management posted on LinkedIn to dispute the founder’s allegations. They assert that the founder was never an owner of the company and gradually reduced his involvement before moving to Ukraine. The management describes his claims as “baseless” and motivated by personal animosity.
CipherBlade’s management states that they have made multiple attempts to facilitate a peaceful separation, which the founder has rejected. They plan to address the allegations through legal channels while continuing to provide excellent service to their clients.
Hot Take: Founder of CipherBlade Files Lawsuit Alleging “Hostile Takeover” by Employees
The founder of blockchain forensics firm CipherBlade has filed a lawsuit accusing a group of employees of executing a “hostile takeover” while he was volunteering in Ukraine. The lawsuit alleges that the defendants took advantage of his absence to seize control of company assets and sensitive data, including the CipherBlade domain and social media accounts. Additionally, the founder claims that his home was broken into and important business documents were stolen. CipherBlade’s current management disputes these allegations, asserting that the founder was never an owner and gradually reduced his involvement before moving to Ukraine. They describe his claims as baseless and motivated by personal animosity.
By
By
By
By