TechFlow reports that Joe Ayoub, co-founder of AI security platform Rug.ai, announced on July 30 that he is stepping away from the company's day-to-day operations. Ayoub revealed that although he co-founded Rug.ai a year ago with a trusted friend, he currently holds no equity in the company—all shares are now legally owned by his co-founder. He stated that he may need to pursue legal action to reclaim what he believes was originally agreed upon as equal ownership.
Ayoub explained that he can no longer participate in the company’s daily operations because he lacks actual control over Rug.ai’s direction and is unable to act in the best interests of users, investors, and employees. He acknowledged the irony of the situation—essentially being "rugged" by his own startup.
With seven years of experience in the cryptocurrency industry, Ayoub said he is now considering a full exit from the space. He expressed disappointment in Rug.ai’s future, believing the company’s original vision can no longer be fully realized. Nevertheless, Ayoub stated he plans to take some time to rest before embarking on a new journey.
Previous report: AI security platform Rug.ai raised $1.1 million in a pre-seed round led by No Limit Holdings.
