Connect with us

Hi, what are you looking for?

Solana
Solana

Cryptocurrency

Solana Co-Founder Faces Lawsuit for Alleged Misuse of Staking Rewards

The ex-wife of Solana’s co-founder has accused him of benefiting from staking rewards on her cryptocurrency assets. The lawsuit asserts that he removed millions of dollars in earnings without her consent.

Stephen Akridge, a co-founder of the Solana blockchain, is facing legal action from his ex-wife, Elisa Rossi. She claims he used her Solana tokens to create significant staking rewards without her knowledge.

The San Francisco Superior Court filed the action, alleging that Akridge earned millions of dollars in staking rewards from Rossi’s Solana tokens. According to the case, their divorce agreement included a partition of their Solana holdings, but Rossi claims that Akridge used her lack of cryptocurrency competence to keep ownership of the tokens.

Rossi claims that Akridge gave her limited access to particular Solana accounts while secretly staking her tokens, garnering substantial gains for himself. She alleges she discovered the deceit in May 2024, several months after the alleged mistreatment began.

Staking, a popular feature in blockchain networks such as Solana, involves locking coins to confirm network transactions in exchange for rewards. Rossi claims that Akridge continued to stake her tokens, profiting from the process even after their divorce settlement.

Rossi’s court filings highlight the large sums involved, but the lawsuit does not mention the actual amount of tokens or the total value of the incentives. In her complaint, she accuses Akridge of breach of contract, unjust enrichment, and fraud.

The lawsuit also states that Rossi attempted to fix the issue directly by sending repeated communications to Akridge concerning the staking incentives. According to her, Akridge rejected her worries and mocked her efforts to reclaim the money.

This legal issue highlights the difficulties and potential risks of cryptocurrency ownership, especially in cases involving personal connections and financial obligations.

author avatar
Alex
Formally freelance blogger Alex is passionate writer with interest in Finance and Business, fascinated about crypto following news and covering stories.
Advertisement

You May Also Like

Cryptocurrency

This week’s Crypto Chronicle explores Ripple's potential SEC settlement, Canada’s leap ahead with Solana ETFs, growing controversy around MANTRA token, and Meta’s aggressive push...

Exclusive

A look into the meme coin that is ruling social media and Solana. In crypto, memes don’t just stay memes anymore. There is money...

Cryptocurrency

Ripple's newly acquired asset, Hidden Road, has secured a broker-dealer license, allowing it to venture into traditional financial services. The move allows it to...

Cryptocurrency

Cryptocurrency exchange Bitget faced an unexpected disruption on April 20 as trading on the futures contract VOXEL/USDT exploded. According to their statement, within 30...

polkadot
Polkadot (DOT) $ 4.24 3.56%
bitcoin
Bitcoin (BTC) $ 93,421.00 0.41%
ethereum
Ethereum (ETH) $ 1,765.44 1.78%
cardano
Cardano (ADA) $ 0.723745 3.27%
xrp
XRP (XRP) $ 2.21 0.91%
stellar
Stellar (XLM) $ 0.279294 3.96%
litecoin
Litecoin (LTC) $ 83.43 0.26%