- SushiSwap’s new CEO has been alleged of scamming innocent crypto investors.
- Twitter users allege the CEO siphoned 70% of a token’s supply in a 2019 project.
- The leader, however, responded that his business partner stole the funds.
Jared Grey, the recently hired head chef at SushiSwap, is on the defense following fraud allegations from the crypto community.
Crypto enthusiast @YannickCrypto claimed that ten years ago, Grey “scammed some people and made several copyright infringements through his company MultiPlex PC.” The Twitter user also accused the CEO of siphoning 70% of the total token supply of a 2019 project called ALGO. He allegedly removed all traces of him by rebranding the coin and migrating it to the Ethereum blockchain.
However, SushiSwap’s new boss posted a defense early today, saying, “The claims against me are 100% incorrect.” He clarified that his business partner stole the money in 2019 when he was attempting to raise funds to start the Bitfineon exchange.
According to a medium post from the period, Kevin Collmer, the actual con artist, was terminated from the project, and the impacted users received refunds. In Grey’s words:
I have always operated with integrity in this space; you can reach out to anyone I’ve worked with directly over the years. I’ve had business failures, which CT likes to scrutinize, and I’m OK with that because it comes with the territory.
SUSHI, the native token for SushiSwap, has experienced a significant price retrace of over 10% following the fraud charge of its boss. SUSHI’s current price of $1.24 represents a loss of 8% in the last 24 hours alone. Data from market tracking websites indicated that the DeFi coin had suffered a brutal 95% loss from its all-time high of $23.38 in March 2021.