Bittensor Hackers, Accused of Stealing Over $28 Million, Face Federal Lawsuit

Thirty-two people who saw over $28 million in cryptocurrency stolen from them in last summer’s Bittensor attack have filed what appears to be the first complaint against disgruntled defendants, who allegedly conspired and executed the sophisticated series of cyberattacks, in a California federal court.

Bittensor, which has been described as a “magnate for prominent venture capital firms,” is a decentralized network designed to foster collaboration and competition among artificial intelligence researchers and developers through rewards in the network’s native digital token, TAO. These users provide valuable computations or high-quality machine learning models relative to a specific task to earn the token.