According to Odaily, Joe Ayoub, co-founder of the AI-based blockchain security platform Rug.AI, announced on X that he will no longer be involved in the project's daily operations. Ayoub shared that he had resigned from a leading global institution a year ago to co-found Rug.AI with a trusted friend. As of today, Ayoub holds no shares in the company, with all shares legally owned by his co-founder. He indicated that he would need to pursue legal action to obtain company equity, as he believes there was no prior agreement to share ownership.

Ayoub further stated that he has no actual control over the direction of Rug.AI, which prevents him from acting in the best interests of users, investors, and employees. Due to this lack of control, he has decided to step away from the company's daily affairs. In March of last year, Rug.AI announced the completion of a $1.1 million Pre-Seed funding round led by No Limit Holdings, with participation from Mask Network, Builder Capital, Formless Capital, Prismatic Capital, Roshun Patel, Pentoshi, Avi Felman, MacnBTC, and Andrej Radonjic.

Rug.AI is an AI security platform dedicated to providing end-to-end on-chain security solutions.