JAKARTA - High-risk legal disputes are underway in San Francisco court involving three leading crypto venture capital firms, namely ParaFi, Framework Ventures, and 1kx, as well as the founder of the popular decentralized exchange Curve Finance, Michael Egorov. These venture Capitals are suing Egorov on charges of financially detrimental fraud practices.
The Venture Capital claim that Egorov was involved in a 'trade secret abuse' that caused significant financial losses. However, Egorov's defense team denied the allegations, stating that it was just a tactic to face an ongoing trial in Switzerland since 2020.
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Egorov's lawyers stated that the allegations were baseless and used to justify the Venture Capital's decision. They accused the Venture Capitalists of making up a new story describing Egorov as an evil criminal who tricked them into handing over a 'tradual secret' and an investment fund of US$1 million (around Rp14.8 billion).
Venture Capital also claimed that Egorov made a false statement regarding the use of their assets in Swiss Stake GmbH, a company that has a Curve license. They stated that their funds were never returned, promised equity was not granted, and they did not receive CRV tokens that should belong to them.
This dispute is still ongoing in court. Michael Egorov has not commented, but he will consult his lawyer before giving an official statement. Similarly, lawyers representing the Venture Capital have not yet provided an official response. This situation continues to be monitored by crypto industry players who are interested in the development of this trial.
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