IOTA Founder Sonstebo Says Platform Can’t Be Held Hostage

The IOTA Founder Sonstebo David was clear that the foundation cannot be simply held in hostage. His statement comes after one of the ex-IOTA board members Sergey Ivancheglo, complained that the founder refused to release his miotas so let’s find out more about this drama in today’s IOTA news.

Ivancheglo complained that he couldn’t get his miotas released and said that he will be contacting his lawyers and will take other necessary legal action about the IOTA Founder Sonstebo David of whom he accused of embezzlement. Sergey twitted:

 “I notify the IOTA community that I no longer work with David Sonstebo and am contacting my lawyers to get my 25 Ti from him. He refuses to transfer the iotas to make me act for his own benefit and against mine.”

In the meantime, the 25 million miotas are now worth over $7.7 million. David now says that it’s not fair for Sergey who was a partner of the platform for more than five years to now develop cold feet and to back up on the project when he was obviously in a collective agreement with the founder of the platform. The publicized division between them seems to have started from the question about Jinn which is a distributed hardware project which surpassed the IOTA project despite the fact that both of them founded the project. David argued that despite Ivancheglo leaving the platform almost a year ago, he refused all of the progress that the foundation made.

The IOTA foundation is working on implementing a new solution that wants to see IOTA function without a central coordinator which is the Coordicide. There is another development stage named Chrysalis which precedes the elimination of the coordinator. David argued that Sergay was taking other solutions for the projects but failed to offer better-performing solutions but he chose to quit:

 “Everyone Calm down. After almost a year after CFB departed from IOTA Foundation and sold all his IOTAs to build Paracosm, we finally decide last week to part ways amicably and professionally. Why? Because he refuses all progress made by the IOTA Foundation (Chrysalis and Coordicide). I single handedly elected him to the board of the IOTA foundation to lead the development of the COO-less IOTA architecture.”