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Cryptocurrency Entrepreneur Charged with $8.75 Million Extortion

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A cryptocurrency entrepreneur has been charged with extorting an unnamed, Seattle-based digital asset startup. Steven Nerayoff stands accused of threatening to “wreck the company” should the firm not meet his demands of more than $8 million.

Nerayoff was reportedly brought on by the company as an advisor to help form partnerships and attract investors. He was due to be rewarded handsomely for his work, but reportedly ended up demanding a far larger payment accompanied by threats.

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