Theft and Fraud at Iota Foundation Continued
Posted4 months ago
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The Iota Foundation is dealing with continued allegations of theft and fraud.
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Sep 4, 2025 at 6:52 PM EDT
4 months ago
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It turns out that IOAT manually verifying legacy claims for legitimacy and making the payment accordingly was yet another lie by IOTA. Please see the following https://x.com/iota/status/1945821199893668087 and https://news.ycombinator.com/item?id=44543184
Following my request, they now claim that they "are currently in the process of deploying a new automated claiming tool that will enable claims to be transferred to a new IOTA-based address. Once the solution has been thoroughly tested and verified, we will reach out again". They refuse to provide a date for this.
Thus the pattern of fraud at IOTA Foundation continues and user funds remain frozen, leading to further financial damages. As highlighted before, based on Tokenomist data (https://tokenomist.ai/iota), this potentially impacts 3.8% of all IOTA tokens in existence which amounts to about 30 million dollars in damages at the current market capitalization.