StormX was the company allegedly extorted by Alchemist CEO Steven Nerayoff

Alchemist CEO Steven Nerayoff allegedly extorted an unrevealed Seattle company for over $10 million in Ethereum.

Only one company fits the bill-StormX.Old-fashioned extortion.

Steven Nerayoff, CEO of Alchemist, LLC blockchain consultancy, was charged with extortion.

In July 2017, Nerayoff entered into an agreement with a Seattle-based company to help support their initial coin offering.

For revising the company's whitepaper, facilitating strategic partnerships, curating pre-seed funding partners, and other services, the agreement would entitle Nerayoff to 22.5 percent of all funds raised and 22.5 of all cryptocurrency tokens issued through the ICO. Then, Nerayoff undertook various threats to extract additional compensation from the company while providing no additional services, going as far as to hire a hitman, Michael Hlady, with an imposing background in national intelligence that included "Taking down a head of state."

The company raised a total of 75,700 ETH during the pre-sale and crowdsale periods.

He threatened to sabotage the crowdsale, generate negative press for the company, and contact influential people to "Destroy" the company if he was not paid an additional 13,000 ETH, worth approximately $3.8 million at the time.

Hlady, on behalf of Nerayoff, then physically intimidated executives from the company for an additional 'loan' of 10,000 Ether, according to the documents.

The company paid the 10,000 loan to Nerayoff's company and was never repaid.

Of the companies in Seattle's relatively small blockchain ecosystem, only one company fits the description made in the legal complaint-StormX. The Department of Justice described the firm as "a startup mobile-based business that specializes in generating user traffic to clients' products by issuing its own cryptocurrency tokens as loyalty rewards." With less than 15 notable blockchain companies in Seattle this already narrows down the list.