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    CipherBlade Faces Hostile Takeover Amid Founder’s Absence

    In Alaska, a lawsuit has been filed alleging that a faction of workers orchestrated a hostile takeover of CipherBlade, the blockchain forensics company based in Pennsylvania. The founder of this firm brings forth this accusation.

    During Richard Sanders’ selfless volunteer work in war-torn Ukraine, providing aid to local law enforcement with their cryptocurrency investigations, a blockchain intelligence company claims that a clique of its staff members executed a forceful seizure of power.

    As per the complaint registered, the internal processes of the company have been breached. The lawsuit asserts that the accused individuals capitalized on Sanders’ absence to unlawfully acquire command over corporate resources and confidential information.

    The founder exposed a revelation on LinkedIn claiming that certain personnel within the organization, who were granted authority over the company’s assets and duties, were involved in deceptive and illicit pursuits. These included acts such as misappropriation of the CipherBlade domain, theft of social media accounts, and other instances of seizing company resources.

    According to a lawsuit, while he was away, the company’s clientele and a portion of the workforce were redirected to fresh CipherBlade establishments situated in Alaska and Singapore. As a result, his business was rendered devoid of any activity.

    In 2019, CipherBlade came into existence under the leadership of Sanders, pledging its mission to support financial crime investigations, mainly focused on cybercrime, for federal agencies, private organizations, and individuals.

    During his time in Ukraine, the founder pointed out that the defendants strategically orchestrated their actions, fully aware that he would find himself occupied and unable to respond. This left him faced with an arduous decision between safeguarding lives or thwarting further theft.

    Richard Sanders, no longer associated with the company, has seen it embark on a fresh endeavor to legally challenge the current leadership of cipherblade.com.

    The recent civil complaint filed with the U.S. District Court of Alaska aimed to seek compensation for a range of offenses, such as the unauthorized usage of classified information, unjust business practices, and engaging in criminal activities.

    CipherBlade Lawsuit: Founder Claims Intrusion and Pilfering of Confidential Papers 

    Sander alleges in his legal complaint that his residence was unlawfully entered, resulting in the theft of vital paperwork.

    During his time in Ukraine, Sanders was notified by his home security system about the abrupt disconnection of all his surveillance cameras. Upon his arrival back home, he made a shocking realization that crucial business documents, including LLCs and business filings, had vanished without a trace.

    In the filed complaint, it was highlighted that concrete proof of a deceitful U.S. Postal Service receipt emerged. This receipt indicated that a package, falsely dispatched from the individual’s residence, employed his name and credit card details without consent. Shockingly, the package was destined for an address in Cyprus.

    Sander highlights the utilization of his prior experience and the strong reputation he has fostered while leading the company. These factors played a significant role in luring clients and strengthening the credibility of the platform.

    Despite his continuous endeavors to have them taken down, references to him, his work, and his credentials persist on cipherblade.com’s website, as he mentioned.

    The defendant has been incriminated by the individual for conspiring to unlawfully acquire his company’s assets. This elaborate scheme encompasses a range of illicit practices such as forgery, mail fraud, impersonation, numerous acts of digital theft to misappropriate company property, physical theft, and the dubious distribution of discretionary bonuses intended to benefit all parties involved.

    Sanders cut all connections with CipherBlade and turned to the professional networking site LinkedIn to issue a cautionary statement to the general public. In his statement, he emphasized that he has no association with the company, while also providing access to the lawsuit documents that outline the various accusations against the individuals in charge of CipherBlade, including misconduct, theft, and fraudulent activities.

    Blockchain Firm CipherBlade Rebuts Richard Sanders’ Allegations of Ownership Dispute

    On Monday afternoon, CipherBlade took to LinkedIn to challenge the claims made by Sanders.

    According to the Blockchain intelligence company, it is stated that Sanders never held ownership and it is contended that his level of active engagement in CipherBlade’s activities gradually diminished in 2022.

    In early 2023, he relocated to Ukraine to wholeheartedly dedicate himself to a selfless cause, marking the end of his active involvement.

    CipherBlade’s management adamantly refutes the allegations, calling them devoid of any substance, vexing, and driven solely by personal animosity. They assert their commitment to handling these claims within the appropriate legal framework in due time.

    Despite making various efforts to ensure a peaceful and structured separation, all of their attempts were turned down, as informed by the mentioned parties. They have decided to tackle his accusations through the appropriate legal channels while staying fully devoted to delivering unparalleled service to their clientele.

    Frequently asked questions:

    The article centers around which problem?

    A report unveils an incident that occurred at CipherBlade, a blockchain forensics company situated in Pennsylvania. During the founder’s absence in Ukraine, he claims to have witnessed a group of employees instigating a hostile takeover.

    Unveil the mastermind behind CipherBlade and shed light on his actions during the alleged acquisition.

    Richard Sanders, the founder of CipherBlade, dedicated his time to lending a helping hand in Ukraine by collaborating with local law enforcement agencies on cryptocurrency-related inquiries during the purported acquisition.

    What accusations have been put forth in the legal case initiated by CipherBlade against its staff members?

    According to the lawsuit, there are claims suggesting that while Richard Sanders was absent, the employees exploited the opportunity to unlawfully acquire control over the company’s valuable assets and confidential information. These illicit activities included gaining possession of the CipherBlade domain as well as taking control of the company’s social media accounts. Furthermore, it is stated in the complaint that important business-related documents were pilfered, resulting in the entire company being essentially shifted to different entities located in Alaska and Singapore.

    In light of these allegations, what specific legal procedures is CipherBlade implementing?

    CipherBlade has taken legal action by submitting a civil complaint to the U.S. District Court of Alaska, aiming to obtain reparations for a range of misconducts. These infractions include the unauthorized use of confidential information, unjust business practices, and engaging in organized criminal activity.

    What was Richard Sanders’ methodology for uncovering the purported misappropriation of business documents and any other infractions that took place?

    Sanders experienced a burglary at his residence, resulting in the theft of significant paperwork. Concurrently, his home security system sent him notifications regarding offline surveillance cameras. Furthermore, he discovered a falsified receipt from the U.S. Postal Service, indicating the shipment of a package from his dwelling without his authorization.

    What is the response of CipherBlade’s present management to the accusations raised by Richard Sanders?

    Sanders’ allegations have been vehemently denied by CipherBlade’s management. They adamantly state that Sanders was never an owner and assert that his level of involvement in the company significantly decreased throughout 2022. They dismiss his claims as groundless, malicious, and fueled by personal hostility. CipherBlade plans to tackle these allegations through proper legal means.

    Credit: https://cipherblade.com/wp-content/uploads/2020/11/cipberblade-social.jpg

    See also: LBRY Blockchain Company Shuts Down Due to Overwhelming Debt

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