Former Ethereum developer Max Resnick has criticized the crypto industry's on-chain metrics, labeling them as misleading and akin to a "scam" aimed at deceiving venture capitalists. In a post dated May 27, Resnick specifically targeted restaking data, claiming that the same Ethereum is often counted multiple times, leading to inflated figures. He expressed concerns over the definitions used by on-chain data platforms, arguing that their metrics are frequently inaccurate or meaningless. Resnick also highlighted the deteriorating state of data in the crypto lending sector, warning that the industry's reluctance to address these issues could exacerbate existing problems. He emphasized the importance of acknowledging these challenges as a first step towards resolution. Resnick, who left Consensys in December 2024 to join Solana-focused Anza, continues to voice his concerns about the industry's data practices.