Any suggestions on the best crypto law firms to engage on keeping the IOTA Foundation accountable and liable for any and all damages, losses, or expenses incurred as a direct or proximate result of their actions or omissions in this regard?
Based on Tokenomist data (https://tokenomist.ai/iota), this potentially impacts 3.8% of all IOTA tokens in existence which amounts to about 30 million dollars in damages at the current market capitalization.
UPDATE: After reporting the IOTA Foundation to the German Federal Financial Supervisory Authority, IOTA made the following statement: "Since the legacy migration tool has been deprecated now, we ask all affected parties to get in touch with us via token-reclaims@iota.org. We will manually verify your legacy claim for legitimacy and make the payment accordingly." ( https://x.com/iota/status/1945821199893668087 )
However, actual token claim requests go unanswered. This is now a well established pattern of fraud by IOTA Foundation.
Imagine that Bitcoin Core Devs requested of Satoshi to move his coins to a new address or lose them, and then took away the mechanism to do so and went dark. Well, this is exactly what happened with IOTA.
On Sep 15, 2023, IOTA.org stated that "once the smart contracts-based migration solution is established, the network will continue to service migrations for another two years before the ability to migrate tokens from the legacy network will end." (https://blog.iota.org/stardust-upgrade-iota-tokenomics/).
However, on May 13, 2025, The IOTA Legacy Migration Tool repo maintainer announced that "Since the network upgrade on 5/5/2025 the legacy migrations are stopped and we'll share more information on how to proceed soon, the legacy migration tool is deprecated and doesn't work anymore, we will communicate next steps over official channels" (https://github.com/iotaledger/legacy-migration-tool/issues/1...).
This never happened. No response on when migrations will be reenabled has been provided. The repo itself has been locked. Email and Twitter messages are ignored. Reddit messages are not published.
The following are sample user reports:
timhoehner: https://github.com/iotaledger/legacy-migration-tool/issues/1...
emotion_chip: https://www.reddit.com/r/Iota/comments/1kp8gap/iota_legacy_m...
Just-Job-6960: https://www.reddit.com/r/Iota/comments/1luyweh/have_a_paper_...
iotamigrator: https://www.reddit.com/r/Iota/comments/1kx02eb/iota_legacy_m...
etc.
Clearly, IOTA Foundation needs to be held liable for any and all damages, losses, or expenses incurred as a direct or proximate result of their actions or omissions in this regard.