Solana Co-Founder Sued for Allegedly Stealing ‘Millions of Dollars’ Worth of Crypto Staking Rewards: Report

A co-founder of Ethereum (ETH) rival Solana (SOL) is reportedly facing a lawsuit for allegedly misappropriating the income earned from his former wife’s crypto holdings.

Bloomberg reports that Elisa Rossi has filed a complaint with the San Francisco Superior Court accusing her ex-husband Stephen Akridge of stealing millions of dollars worth of staking rewards gained from her Solana tokens.

Staking rewards are similar to interest earned from a bank deposit. Crypto holders who participate in the staking process lock their assets for a certain period to validate blockchain transactions and earn more tokens as a reward. 

The complaint says the dispute started after Akridge and Rossi filed for divorce in February 2023. Rossi alleges that from early March to mid-May, Akridge operated and controlled the accounts in issue and received all of the SOL token commissions. 

Rossi says that Akridge, who served as principal engineer at Solana and is now the CEO of California-based cybersecurity company Cyber Grant, “took advantage of the significant disparity in expertise in cryptocurrencies and blockchain that he possessed.”

The value of the tokens in dispute is blacked out in the suit but Rossi says a significant sum is involved. She is seeking damages for claims and contends that Akridge engaged in breach of contract, unjust enrichment and fraud. 

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