Breaking: SushiSwap Founder Returns $14m in ETH to Project Treasury

SushiSwap founder Chef Nomi has announced the return of $14 million in ETH to the SushiSwap treasury and issued a public apology. It will be recalled that on September 5, the anonymous founder sold $8 million worth of SUSHI, leading to a panicked mas selloff which sent the price tumbling more than 50 percent.

After selling 19,430 ETH in SUSHI from the SushiSwap dev pool, he effectively came out of the transaction $14 million richer while the SUSHI market went into a tailspin, sparking angry accusations of exit scamming from furious SUSHI holders. Writing on his Twitter account earlier today, Chef Nomi apologized at length for his actions and appealed to the SUSHI community to keep the project alive.

Controversy, Doxxing, and Subsequent Apology

Following the initial blaze of anger surrounding the suspected exit scam, Chef Nomi initially insisted that he had done nothing wrong and that he was still involved in the project.

Before long however, he was doxxed on social media, with his real identity revealed on Twitter and Reddit, including his full name, job history and location.

After days of uncertainty about what the next move would be, the SushiSwap founder decided to come clean today. In a lengthy apology, he blamed his actions on “greed” and decisions “made under pressure.”

He also publicly apologized to Binance and its founder Changpeng Zhao for “causing trouble” and posted evidence of the transaction returning to ETH to the treasury.

Closing off his apology, he appealed to SUSHI users to keep on engaging with the community-run project instead of allowing his actions put them off.

At press time, the reaction to Chef Nomi’s apology was broadly positive across the crypto world. BeinCrypto will bring more updates as the story develops.

Want to know more?

Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans!

Leave a Reply

Your email address will not be published. Required fields are marked *