The co-founders of the Status project that raised $100 million in an ICO cannot be located, and the investors are very angry and are calling for the court to step in and help.

Foot Two consultants from Selendy & Gay PLLC and Roche Cyrulnik Freedman LLP sent a letter to a New York court on Monday that they had made a sweeping effort to find Jared Hope and Karl Bennetts, the founders of Project Status, a software development company that builds Web 3.0 applications including a decentralized chat application and a web browser.

The letter says that investors are worried that the founders of the project will disappear and not reappear.

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Investors filed the first complaint against the project’s founders in April, claiming that the project’s ICO, which raised $100 million in 2017, was an unregistered and therefore illegal security sale.

The lawsuit argues that Project Status misled investors by saying that SNT is subject to US securities laws, and the lawsuit also says that the investors want their money back, in addition to redressing the damages they have suffered.

Jarrad Hope is the co-founder and CEO of Status, and is responsible for the ICO process.

While “Karl Bennetts” is one of the founders of the project and serves as the head of communications and was responsible for promoting the ICO sale.

So far, they have not been found, and the investors’ lawyer has asked the judge to ask the founders of the project to pay attention to the case and return the investors’ money.

Both founders have Twitter accounts that have been active recently, which keeps a ray of hope for investors.

Stay alone. use case. pic.twitter.com/xBYPLESFSt

– status (ethstatus) July 31, 2020

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The investors earlier, after finding that their money was at stake, hired a private investigator to track down the impact of the founders of the project, but to no avail, at least for the time being.

As a reminder, 42 investors from 12 countries have already filed class-action lawsuits against several big names in the crypto market, including Binance, Block.one, and Bitmex accusing them of misleading investors and selling unregistered securities, and in general, the lawsuits seek compensation in excess of billions of dollars. .

Lawsuits against several prominent names in the cryptocurrency market

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