[Cere Network Co-Founder and Board Face $100 Million Lawsuit Over Token Sale] According to Cointelegraph, co-founders and board members of the cryptocurrency infrastructure platform Cere Network are facing a $100 million lawsuit. The plaintiffs accuse them of orchestrating a 'pump-and-dump' scheme, stealing tens of millions of dollars from investors. The lawsuit alleges that co-founder Fred Jin and others violated lock-up commitments following the platform's token public sale in 2021, secretly selling $41 million worth of tokens and transferring the funds to personal wallets. The complaint also claims they collaborated with market makers and used bots to fabricate trading volume to cover up their actions. This marks the second lawsuit Cere Network has faced this month. Previously, another co-founder filed a lawsuit on January 13, accusing Jin of embezzling over $58 million in company assets. Currently, the price of the CERE token has dropped approximately 99.9% from its all-time high in November 2021.