Chef Nomi (Courtesy: Twitter)
Latest News

Chef Nomi Returns ETH Worth $14 Million

Chef Nomi (Courtesy: Twitter)
Chef Nomi (Courtesy: Twitter)

The former lead developer of Sushiswap, Chef Nomi, has returned $14 million worth of ETH to the protocol’s treasury.

In a somewhat completely unexpected turn of events, the former lead developer behind the Sushiswap protocol has returned $14 million worth of ETH to SUSHI’s treasury.

This comes six days after the anonymous Chef Nomi depleted the development fund and sold it for ETH, basing his merits on the fact that he deserved that money for his hard work.

To reiterate something we’ve touched upon countless of times – there’s never a boring day in the cryptocurrency field.

Just six days ago, the anonymous then-lead developer of the Uniswap fork, SushiSwap, drained out the development fund and sold SUSHI tokens worth millions of ETH.

The community condemned his actions as an ‘exit scam.’ He was quick to react and transferred the admin control to FTX CEO, who then migrated it to a community-owned multi-signature wallet.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.