Investors are Raising Funds Against YFI Founder Cronje for EMN Incident

Investors are Raising Funds Against YFI Founder Cronje for EMN Incident

By Abhimanyu Krishnan | News | 12 Oct 2020


Several investors in Andre Cronje’s Eminence.finance (EMN) project are raising funds to file a lawsuit against him, according to a blog post by said group.

  • The group, which has posted on Medium under "Eminence Investigation", is raising funds to file a lawsuit against Andre Cronje, and prominent community member and developer Kirby and Banteg “on behalf of the victims”
  • The crowdfunding will end on November 9, with 100% of donations going to finance the lawsuit
  • Yearn.finance founder Cronje was experimenting with a new protocol called Eminence.finance, which was exploited by a hacker
  • The post gives a timeline of the EMN incident, which saw the hacker drain $15 million in funds, $8 million of which was sent to Cronje, who later asked the YFI treasury to help with refunding the amount
  • The group has accused the aforementioned individuals of hyping and selling a test token, while not adequately warning individuals of the experimental nature
  • Cronje after being silent almost 2 weeks, has finally responded to his audience that he's still building and quit social media

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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