Defi’s Raw Deal: Sushiswap Creator Transfers Multi-Sig Control to FTX CEO

After a number of individuals from the crypto community accused the anonymous developer Chef Nomi of exit scamming, the developer transferred the project over to Sam Bankman-Fried, the CEO of the trading platform FTX.

On Saturday, September 5, the decentralized finance (defi) community got upset with the creator of Sushiswap, a forked project copied from the Uniswap Protocol. The reason many in the crypto community are angry toward the anonymous developer called Chef Nomi, is because he withdrew $13 million from the Sushiswap pool and cashed it out for Ethereum.

The Sushiswap general manager called ‘0xMaki’ explained that he needed to discuss the situation with Chef Nomi, but the creator went to bed. 0xMaki also tweeted that he could doxx the anonymous leader and stated:

Before accusing anyone publicly since he has been doxxed before I could reveal it. [Chef Nomi] I ask you to do the right thing put the treasury in a multi-sig with trustworthy signers. I will lead the project from here and make it a success.

However, on Sunday afternoon, 0xMaki said he didn’t know who Nomi really was or the third developer involved with Sushiswap. When Chef Nomi returned from his slumber, the anon creator said he was “transferring control to [Sam Bankman-Fried] now” from the crypto exchange FTX.

“Sent Timelock admin control to [Sam Bankman-Fried], replace me by [Sam Bankman-Fried] for a dev multi-sig contract (currently control more than $1 million worth of SUSHI.)”

The developer further added:

I hope Sushiswap does well without me. Again I did not intend to do any harm. I’m sorry if my decision did not follow what you expected. But I want to stress again and I did not intend to scam anyone. No LPs are lost whatsoever. I kept all my promises.

Defi's Raw Deal: Sushiswap Creator Transfers Multi-Sig Control to FTX CEO
SUSHI price on Sunday, September 6, 2020, after Chef Nom transferred control over to FTX CEO Sam Bankman-Fried.

A number of people…

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