On July 31st, Joe Ayoub, co-founder of the artificial intelligence blockchain security platform Rug.AI, announced in a post that he will no longer be involved in the project's daily operations.

Ayoub revealed that he had previously resigned from a leading global organization and founded Rug.AI a year ago with a trusted friend. As of today, he has no stake in the company, as all shares are legally owned by the other co-founder. However, he has made it clear that he will need to take legal action to obtain company equity, as he does not believe they agreed to share ownership.

He added that he has no practical control over Rug.AI's direction and therefore cannot act in the interests of users, investors, and employees. For this reason, he cannot continue to participate in the company's daily affairs.