Ex-Ethereum advisor arrested for extortion
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Answer Ex-Ethereum advisor arrested for extortion
Yesterday, in the United States of America, Mr. Stephen Neroff, an Ethereum advisor, was arrested on charges of extortion.
Stephen Neroff is a technology entrepreneur who has been involved in the Ethereum project as a consultant as well as CasperLabs, tZero, and dozens of other Initial Coin Offerings (ICOs).
He was arrested along with “Michael Hiladi” on the charge of extortion, after the accusation was proven and investigated by the New York Attorney General and the FBI.
Where accuse The two men destroyed a Seattle-based startup that was operating as a cryptocurrency company offering loyalty rewards in order to help companies attract more users and sell their products.
In November 2017, the company planned to seek funding through an ICO and agreed to a discontinued arrangement giving 22.5% of all funds raised to Mr. Nirav.
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Days before the start of the sale, Nyrauf demanded from the company an additional 17,000 Ethereum, valued at $8.5 million.
This means raising the value of what has been agreed upon and thereby blocking the planned ICO and destroying the company to satisfy his interests.
Later, Nerauf’s demands increased to appoint Mr. Michael Hiladi, the operations manager for the project, after which the two men threatened the company and requested a loan in the amount of 10,000 Ethereum, worth $4.45 million.
Mr. William F. said: Sweeney Jr., Assistant Director of the FBI, says:
“When you redo the agreement like in this case, a blackmail scheme is usually revealed.
Placing strong demands on a company for personal gain is a risky business, whether an individual’s preference is to be paid with cryptocurrency or hard cash.”
The two men could face up to 20 years in prison if found guilty.
Read:Former Indian Finance Minister urges Indian government to regulate cryptocurrencies rather than ban them
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