The new administration is being sued by Richard Sanders, the founder of blockchain investigation startup CipherBlade, for allegedly stealing company assets, faking signatures, and stealing business registration paperwork from his home. Sanders alleges that the new management stole trade secrets in the form of confidential investigation information, client leads, and client information while he voluntarily participated in a cryptocurrency-related investigation in Ukraine in 2022. Sanders also claims that the new management diverted clients to an Alaskan and a Singaporean company while making materially false statements to gain access to his account.
On Monday afternoon, CipherBlade responded to Sanders’ claims in a LinkedIn post. Sanders ‘ceased active involvement in CipherBlade’s activities during 2022 and effectively discontinued this role entirely when he moved to Ukraine in early 2023 to carry out a personal humanitarian mission,’ according to the firm, which claimed that Sanders was never an owner. With an emphasis on cybercrime, CipherBlade seeks to aid federal government agencies, private businesses, and individuals in the investigation of financial crimes.