ChainCatcher news, Ethereum's early advisor Steven Nerayoff provided an update on his lawsuit against co-founders Vitalik Buterin, Joseph Lubin, and the Ethereum Foundation. To further deepen the case, Nerayoff teamed up with on-chain detective TruthLabs to uncover on-chain evidence, which allegedly involves fraudulent activities by Buterin, Lubin, and the Ethereum Foundation.TruthLabs discovered evidence of the Ethereum Foundation's involvement in the 2016 Gatecoin hack, which resulted in the loss of 185,000 ETH and 250 BTC. Nerayoff has also reached out to other Ethereum insiders who can provide concrete evidence of the alleged fraudulent activities.In a detailed statement on X, Nerayoff accused Ethereum co-founders of choosing silence regarding these allegations, believing that this strategy amounts to a confession.

ChainCatcher news reports that a report released by the law firm Hogan Lovells shows that the Hong Kong court has defined cryptocurrency as property that "can be held in trust" in the "Gatecoin-related case." Judge Linda Chan, who presided over the case, stated that Hong Kong, like other common law jurisdictions, has a broad definition of "property" with extensive implications.In 2019, the Hong Kong-based cryptocurrency exchange Gatecoin announced its closure and began liquidation. The report states that the exchange held over HKD 140 million in cryptocurrency as of October 2022. (source link)