The world of nonfungible tokens (NFTs) has been rocked by a lawsuit that has been filed in opposition to one of many co-founders of the Rebase venture, Edmond Truong. The lawsuit has been introduced by Krzysztof Gagacki, who claims to be a co-founder of the venture and alleges that Truong has acted in unhealthy religion by misappropriating $2 million right into a separate pockets that’s owned and managed by him with out Gagacki’s consent.
Within the submitting, which was made on April 17, 2023, in a United States District Court docket in California, Gagacki accuses Truong of eight separate complaints, together with breach of contract, breach of fiduciary obligation, defamation, and trademark infringement. He’s demanding a jury trial, claiming that Truong has “gone rogue” by stealing cash from a joint crypto pockets and ousting Gagacki from the agency.
In accordance with Gagacki, the skilled relationship between the 2 had deteriorated by October 27, 2022, when Truong breached their partnership contract. Gagacki claims that he owns a 50% share of the funds within the joint crypto pockets however that Truong refuses to supply him with the non-public keys to the digital pockets.
Gagacki additional alleges that Truong has “ousted” him from the enterprise by presenting himself because the “sole proprietor” and “determination maker” for Rebase. He claims that Truong has made a number of defamatory statements to the agency’s enterprise contacts about him, inflicting injury to his popularity.
Moreover, Gagacki claims that Truong has deliberately interfered with a number of potential offers that he had been engaged on for the agency. One in every of these offers concerned American movie star Bella Hadid, who featured within the agency’s Cy-B3lla NFT venture. The submitting alleges that Hadid refused additional collaboration with the venture after it was made obvious to her that the 2 co-founders had clashed.
It’s unclear when the skilled relationship between Truong and Gagacki began to deteriorate, however Gagacki claims that Truong has been appearing in unhealthy religion by misappropriating funds and making defamatory statements about him. The lawsuit is predicted to be carefully watched by the NFT group, which has seen explosive development in recent times. As using NFTs continues to develop into completely different industries, authorized disputes like this one might change into extra frequent.