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<p>The post <a href="https://coinpedia.org/news/crypto-controversy-ex-ethereum-adviser-sues-us-government-for-9-6-billion/">Crypto Controversy: Ex-Ethereum Adviser Sues US Government for $9.6 Billion</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Former <a href="https://markets.coinpedia.org/ethereum/">Ethereum</a> adviser Steven Nerayoff has filed a lawsuit against the U.S. government, seeking $9.6 billion in damages for false charges and alleged mistreatment by federal agents. After four years of legal battle, Nerayoff seeks compensation for damages stemming from extortion charges that were eventually dismissed in 2023.&nbsp;</p> 
<p>Nerayoff’s lawsuit sheds light on the challenges faced by individuals in the cryptocurrency industry when dealing with law enforcement.</p> 
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   <p lang="en" dir="ltr">BREAKING: Today I have filed my Federal Tort Claims Act (FTCA) lawsuit suing the U.S. government for personal damages related to false prosecution. It is time we took a stand against this unrestrained corruption, for all the people wrongly accused &amp; to ensure justice against… <a href="https://t.co/PQZjz6Ewcp">https://t.co/PQZjz6Ewcp</a></p>— Steven Nerayoff (@StevenNerayoff) <a href="https://twitter.com/StevenNerayoff/status/1777691121595863248?ref_src=twsrc%5Etfw">April 9, 2024</a>
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<h2 class="wp-block-heading" id="h-nerayoff-s-sued-us-gov-t">Nerayoff’s Sued US Gov’t</h2> 
<p>Steven Nerayoff, a prominent figure in the early Ethereum community, sued the U.S. government under the Federal Tort Claims Act (FTCA). His lawsuit <a href="https://www.dropbox.com/scl/fi/qpiwtd0fv1rfjfcwlus7j/FTCA_Redacted.pdf?rlkey=i6pfvldndm5qjtr46gijdxojb&amp;dl=0">seeks $9.6 billion in damages</a> for extortion charges ultimately dismissed in May 2023.&nbsp;</p> 
<p>Despite the dismissal, Nerayoff alleges significant harm to his reputation and businesses due to baseless allegations and a prolonged legal battle.</p> 
<p>Nerayoff’s legal battle <a href="https://www.justice.gov/usao-edny/pr/two-arrested-extortion-startup-cryptocurrency-company">began in 2019</a> when he was charged with extortion alongside his associate Michael Hlady by the Federal Bureau of Investigation (FBI). The charges stemmed from accusations that they threatened to harm a cryptocurrency startup unless they were paid millions of dollars in Ether.&nbsp;</p> 
<p>Amidst the prolonged legal ordeal, the U.S. government eventually dismissed the case in May 2023.</p> 
<p>Also Read : <a href="https://coinpedia.org/news/bitcoin-price-forecast-amidst-cpi-release-and-fomc-meeting-minutes/">CPI Release, Fed Meeting Coming Up! How Will the Bitcoin Price React?</a></p> 
<h2 class="wp-block-heading" id="h-baseless-case-nbsp">Baseless Case&nbsp;</h2> 
<p>According to reports, Nerayoff’s lawsuit alleges that federal agents were aware of the baseless nature of the charges against him. He claims that some agents engaged in harassment and intimidation tactics, including the fabrication of evidence, to prosecute him for extortion.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">NEW: Former adviser to the <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> network, <a href="https://twitter.com/StevenNerayoff?ref_src=twsrc%5Etfw">@StevenNerayoff</a> and his legal team have filed a Federal Tort Claims Act (FTCA) lawsuit suing the U.S. government for $9.6 billion in personal damages as a result of false charges brought against Nerayoff and his mistreatment by…</p>— Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1777683338121089103?ref_src=twsrc%5Etfw">April 9, 2024</a>
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<p>Nerayoff’s legal team argues that the damages caused to his reputation and businesses justify the $9.6 billion claim against the U.S. government.</p> 
<p>Notably, Nerayoff has enlisted the services of prominent lawyer Alan Dershowitz as a consultant on the case. Dershowitz believes the lawsuit is “unusual” and highlights the challenges faced by individuals in the cryptocurrency industry when dealing with law enforcement.</p> 
<h2 class="wp-block-heading" id="h-controversial-allegations">Controversial Allegations</h2> 
<p>Nerayoff was arrested in September 2019, alongside his associate Michael Hlady, marking the beginning of a <a href="https://www.justice.gov/usao-edny/press-release/file/1203466/dl">protracted legal battle</a>. Throughout the legal trail, he made serious allegations against Ethereum co-founders Vitalik Buterin, Joe Lubin, and the Ethereum Foundation.&nbsp;</p> 
<p>These allegations, including claims of fraudulent initial coin offerings and conspiracy with corrupt officials, have sparked debates within the cryptocurrency community. </p> 
<p>As the case unfolds, Nerayoff’s lawsuit also sheds light on broader issues of fairness and accountability in law enforcement’s approach to cryptocurrency matters.&nbsp;</p>

Crypto Controversy: Ex-Ethereum Adviser Sues US Government for $9.6 Billion

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