The co-founder of non-fungible token (NFT) challenge Rebase is going through a lawsuit from his obvious enterprise companion, who accuses him of going “rogue” by stealing $2 million from a shared crypto pockets and stealing an obvious co-founder from the corporate has supplanted.
Krzysztof Gagacki, who claims to be the co-founder of Rebase, filed eight separate complaints towards the agency’s different co-founder, Edmond Truong, on April 17 in a US district court docket in California.
Gagacki is looking for a jury trial for breach of contract, breach of fiduciary responsibility, defamation and trademark infringement.
Though it is unclear when the skilled relationship between the 2 deteriorated, Gagacki alleged that on October 27, 2022, Truong broke a partnership settlement by usurping $2 million right into a separate pockets owned and operated by Truong with out his consent Truong is managed.
Gagacki claims to personal a 50% share of the funds and says Truong refuses to offer him the non-public keys to the digital pockets.
Krzysztof Gagacki, co-founder of https://t.co/oBDvtTLDqk and Bella Hadid’s NFT challenge Cy-B3lla, at present sued his co-founder for allegedly stealing $2,000,000 and “gone rogue”. pic.twitter.com/I3DTFR6ZhM
— Rob Freund (@RobertFreundLaw) April 18, 2023
Within the submitting, he claims that Troung “put him out of enterprise” by presenting himself to 3rd events because the “sole proprietor” and “choice maker” for Rebase.
Gagacki additional claims that Troung acknowledged Gagacki was now not “employed” by the corporate after issues “obtained a bit out of hand”. A LinkedIn account owned by Gagacki doesn’t listing any employment historical past at Rebase.
Truong additionally allegedly “willfully interfered in a number of potential offers” that Gagacki had labored on for the corporate and made a number of defamatory statements about Gagacki to the corporate’s enterprise contacts.
Gagacki claims the feedback had “disastrous results” on his status.
One of many offers concerned American movie star Bella Hadid, who was concerned within the firm’s Cy-B3lla NFT challenge however then declined to work additional after realizing the 2 enterprise companions had fallen out, the submitting says.
Truong can also be mentioned to have seized a Twitter account associated to Hadid’s NFT assortment, which Gagacki claims to have the trademark rights to together with his different firm, IOVO AG:
“[Truong] additionally seized the @REBASEgg and @cybellaxyz Twitter accounts. Particular, [Truong] has modified the password for these accounts and is actively denying entry to Mr. Gagacki.”
One other allegation talked about by Gagacki was Truong’s unauthorized try and concern a rebase token on the Ethereum Layer 2 scaling resolution Arbirtrum.
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When a token is issued, it might have severe implications for Rebase, the submitting defined:
“If a Rebase App token is listed on a significant cryptocurrency trade, the market value of the tokens minted on the Arbitrum Community and provided to the general public could possibly be multiples of the final spherical of the Rebase App’s valuation of $150,000,000. attain {dollars}.”
In response to the corporate’s Twitter account, Rebase is ready to be built-in into Arbitrum on April 21:
Save the date ⏲️
April 21, 2023. Rebase is coming to Arbitrum! #RebaseonARB
The primary AR Journey and M2E app on $ARB pic.twitter.com/9QsMBsAlfe
— Rebase (@REBASEgg) April 11, 2023
The corporate’s $150 million valuation relies on enterprise capital funding from Animoca Capital, Anti Fund Funding Fund, LLC, DeFiance Capital and now-bankrupt Three Arrows Capital.
Cointelegraph contacted Gagacki, Truong, and Rebase, however obtained no fast response.
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