Venture firms accuse Curve founder of elaborate fraud
ParaFi Digital Opportunities, Framework Ventures, and 1kx allege that Curve founder Michael Egorov carried out an elaborate fraudulent scheme that spanned six months, deceiving them in multiple ways. Egorov purportedly misled the three venture capitalists starting in 2020 by making false promises of granting them a stake in Curve. He is said to have used their network and reputation to gain trust and legitimize Curve, according to their most recent complaint filed in San Francisco in April. The litigation, first reported by DL News, was originally filed in October. As things unfolded, Egorov supposedly stole the plaintiffs’ trade secrets, which included valuable information like industry contacts, investors and investment know-how for Curve. Curve Finance is a platform meant for exchanging tokens with low fees by using pools of similar assets. Liquidity providers to the platform are rewarded with the protocols native token CRV and trading fees. Egorov is accused of fraudulent...