AI DAO (decentralized autonomous organization) AI16Z (later rebranded as ElizaOS) developers are facing a class-action lawsuit for false advertising and market manipulation, according to crypto-specialized law firm Burwick Law via its official X account. The plaintiffs claim that the developers stole the brand of famous venture capital firm Andreessen Horowitz (a16z) to create a fictitious image of an AI technology startup, and promoted the project as operating AI agents with its own investment funds, when in reality it was manually operated. A complaint has reportedly been filed with the Southern District of New York (SDNY).
