‘I F**ked Up’: SushiSwap Creator Chef Nomi Returns $14M Dev Fund

Sep 11, 2020 at 16:30 UTCUpdated Sep 11, 2020 at 18:46 UTC

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‘I F**ked Up’: SushiSwap Creator Chef Nomi Returns $14M Dev Fund

SushiSwap creator “Chef Nomi” has returned all $14 million in ether (ETH) that he cashed out from the automated market maker last week, apologizing to the community for suddenly liquidating his SUSHI holdings.

The pseudonymous individual transferred the 38,000 ETH back to the original developer fund wallet soon before 16:00 UTC today, according to Etherscan.
Nomi announced the decision in a tweet, saying whatever reward he deserves for creating the project would be decided by the community:

The SushiSwap creator suddenly sold the tokens last weekend, prompting a 73% crash in the price of the SUSHI token and creating a massive backlash from the project’s supporters and accusations of an exit scam.
This ultimately led to Nomi transferring ownership of the project to FTX CEO Sam Bankman-Fried.
SushiSwap co-founder 0xMaki said he was disappointed in the liquidation, according to an interview with CoinDesk China.
Following the news that the $14 million in ether had been returned, the price of SUSHI soared from $2.26 to $2.70, a rise of 16%.
SushiSwap is a massively popular fork of DeFi project Uniswap that is still less than three weeks old.
In another tweet Friday, Nomi said: