An innovative cryptocurrency firm that gained prominence for its ability to crack locked digital wallets has been thrown into turmoil following revelations that one of its secret co-founders was a notorious hacker accused of multiple sexual assaults.
Unciphered, a San Francisco-based company, had attracted support from former officials of U.S. intelligence agencies such as the CIA, NSA, and FBI. Many of these individuals, who had introduced the firm to government agencies, were unaware of its links to Morgan Marquis-Boire—a once-celebrated cybersecurity expert who vanished from public life in 2017 after facing multiple allegations of sexual misconduct.
The New Zealand-born Marquis-Boire was previously renowned for his work with non-profits such as Citizen Lab and the Electronic Frontier Foundation, where he uncovered high-level spyware operations. However, his reputation collapsed following accusations of abuse, which led organizations to sever ties with him.
“There is much work to be done to counter a toxic culture of sexual discrimination, harassment, and violence in many areas of the tech community, and we are fully committed to that fight,” Citizen Lab stated at the time of his departure.
His association with Unciphered has raised serious concerns among former intelligence officers. Cindy Cohn, executive director of the Electronic Frontier Foundation, expressed her unease, stating: “I take seriously the many charges of physical and emotional abuse by women who worked with him, and I’ve seen no serious attempts to repair the damage he did to so many.”
Unciphered was co-founded by Eric Michaud, a well-known hacker and blockchain security expert, who served as its public face. The firm used cutting-edge technology and expertise from NSA and FBI veterans to unlock cryptocurrency wallets, profiting from recovered funds. The company gained widespread recognition, with features in major publications and a Netflix documentary in production.
However, internal documents and employee accounts reveal that many within the company were unaware of Marquis-Boire’s involvement. Operating under the alias “Frank Davidson,” he worked alongside other top security experts, including Jon Ellch, a former elite FBI hacker. Over time, employees uncovered his true identity and raised concerns about his past.
“I am personally very worried about the damage it could do to my career if it looked as if I was intentionally working for Morgan,” Ellch stated.
As tensions escalated, Michaud resigned as CEO, and Marquis-Boire stopped working with the company. It was only in January—after media inquiries—that Unciphered confirmed his exit as a shareholder. The firm has since removed its staff listings from its website, citing security concerns.
“Our current management team has prioritized building out our governance, compliance, and controls protocols. We are profitable and well-positioned for sustained growth,” the company stated.
Despite these assurances, the scandal has cast a long shadow over Unciphered, highlighting the risks of unchecked influence within the rapidly evolving cryptocurrency sector.
