EOS Network Foundation reveals plans to file $4.1 billion legal action against Block.One

EOS Network Foundation founder Yves La Rose said they are planning to "file a lawsuit for $4.1 billion" against EOS developer Block.one.

In a new chapter in the EOS community vs. developer battle, the founder of the EOS Network Foundation (ENF), "Community Elected CEO" Yves La Rose, revealed that they are preparing for a legal "war on EOS developer Block.one" ".

According to La Rose, they are looking into legal action to "seek $4.1 billion in damages." The EOS leader mentioned that a Canadian law firm is currently working with them on what legal action they can take against the original developers of EOS.

In a blog post, the foundation announced that many members of the EOS community were very unhappy with Block.one.

“Block.one did not live up to its past commitments, and both the community and EOS users were hurt by it.”

Last year, the foundation announced that they had negotiated with Block.one, hoping to reach a consensus. The two sides held discussions to try to resolve these issues in a fair manner. However, the ENF noted that Block.one backed away from the negotiated scheme. Therefore, EOS block producers believe that it is necessary to freeze the future EOS token revenue of Block.one.

Back in 2018, Block.one conducted an ICO for the EOS token (EOS), selling 900 million tokens for over $4 billion, the largest ICO at the time. Since then, however, many have been disappointed by the direction the company has taken.

A few months ago, La Rose described EOS as a failure. He cited the decline in market cap and value, saying it was a poor financial and time investment. He also said that the community lost key developers to blockchain development and to asset management