Yearn.Finance Investors Raise Funds to Sue Project's Creator
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12 October
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Yearn.Finance's (YFI) creator might face a collective lawsuit as the project's investors are raising funds to sue him over incident tied to the Eminence (EMN) project, iHodl Russia has learned.

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According to EMN Investigation, a DeFi community, the investors are crowdfunding capital to finance a lawsuit against André Cronje, Kirby and Banteg over the EMN scandal on behalf of the victims.

The investors also plan to airdrop 50% of the supply of a fork of YFI to donators. The other 50% of the supply will reportedly be airdropped to the victims of the EMN scandal:

"We will create a new DeFi ecosystem, but without the bad actors," the investors said.

iHodl reported previously that Cronje's new project Eminence had been hacked shortly after the launch. Out of the stolen $15 million, the hacker transferred $8 million to Cronje's cryptocurrency wallet.

Over $26M in Bitcoin Moved from Wallet tied to Bitfinex Hack in 2016

"If EMN was a test, it had zero value as a token. Yet Andre watched as $15 million poured in without a word. But kept hyping the project by retweeting," EMN Investigation said.

In September, Yearn.Finance introduced a new protocol called StableCredit. According to an official announcement, StableCredit is a protocol that consists of tokenized debt stablecoins, lending, AMMs, and single sided AMM exposure "to create a completely decentralized lending protocol."

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