CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » Crypto News » Breaking: SUSHI Lead Developer Returns $14 Million Worth of ETH

Breaking: SUSHI Lead Developer Returns $14 Million Worth of ETH

Author: George Georgiev

Last Updated Sep 11, 2020 @ 15:58

The former lead developer of Sushiswap, Chef Nomi, has returned $14 million worth of ETH to the protocol’s treasury.

Getting your audio player ready...

In a somewhat completely unexpected turn of events, the former lead developer behind the Sushiswap protocol has returned $14 million worth of ETH to SUSHI’s treasury.

This comes six days after the anonymous Chef Nomi depleted the development fund and sold it for ETH, basing his merits on the fact that he deserved that money for his hard work.

Chef Nomi Returns $14M Worth of ETH

To reiterate something we’ve touched upon countless of times – there’s never a boring day in the cryptocurrency field.

Just six days ago, the anonymous then-lead developer of the Uniswap fork, SushiSwap, drained out the development fund and sold SUSHI tokens worth millions of ETH.

The community condemned his actions as an ‘exit scam.’ He was quick to react and transferred the admin control to FTX CEO, who then migrated it to a community-owned multi-signature wallet.

In any case, what’s done is done and many thought that Chef Nomi would be living the good life going forward.

Today, however, he came back, letting everyone know that he has returned $14 million worth of ETH to SUSHI’s treasury. Instead, he said that the community should decide how much he gets rewarded for being the original creator of Sushiswap.

“I would like to apologize to everyone who I have caused troubles to. I was emotional, I was greedy, I was afraid. I mad bad controversial decisions under pressure. And it hurt everyone. I failed your expectation and I am sorry.” – The former lead developer said.

SushiSwap Going Forward

Ever since Chef Nomi transferred the control over to Sam Bankman-Fried, the protocol carried out the planned liquidity migration away from Uniswap.

Commenting on the matter, Chef Nomi said:

SUSHI migration went successfully and the journey of SushiSwap began. I was fortunate to have a chance to help in the background and it was a very enjoyable moment in my life. Congrats for the successful migration.

CryptoPotato reported earlier in the week that SushiSwap actually had more liquidity locked in it than Uniswap.

In any case, it’s interesting to see how the project will develop from here and whether or not this act will be considered a further vote of confidence.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Tags: DeFi
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

George Georgiev
More posts by this author

Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

11 Best Meme Coins to Watch in June 2025

11 Best Meme Coins to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

11 Best Crypto Presales to Consider in June 2025

11 Best Crypto Presales to Consider in June 2025

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!