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Former ConsenSys-incubated Firm Founder Pressed Charges Against Joseph Lubin for $13M

By Jenny Aurora | July 23, 2019
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Former ConsenSys-incubated Firm Founder Pressed Charges Against Joseph Lubin for $13M

Harrison Hines – founder of the ConsenSys-incubated, ICO-focused platform – is reportedly pressing charges against Ethereum creator Joseph Lubin for contract violation.

Stated in the documents sent to the Supreme Court of the State of New York County of New York, Hines decided to bring Lubin to court, with allegations regarding “breach of contract, conversion, quantum meruit, unjust enrichment, fraud, declaratory judgment and unpaid profits arising from the defendants’ acts in connection with the business known as Token Foundry.”

Hines looks to obtain more than $13 million from Lubin, which will act as a compensation for the “monetary damages in the amount of $12,827,000 on the contract, quasi-contract and fraud claims plus $404,783 in unpaid profits.”

ConsenSys – a New York-based blockchain firm established by Joseph Lubin – would potentially fire a majority (60%) of its current human resource, since the blockchain industry is increasingly competitive and “crowded”.

In January 2019, Vanessa Grellet – Executive Director of Enterprise and Social Impact at ConsenSys – revealed that no more than 13% of the employees will actually be let go, and all the teams at the company will undergo thorough reevaluation, for both technical and non-technical human resources.

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