The Equibit story is far more than the collapse of a promising Canadian blockchain company during the crypto winter. It is the story of a long-term, sophisticated intelligence operation designed to identify, infiltrate, steer, exploit, and ultimately neutralize a perceived threat to established financial and surveillance systems.
At the center of that operation was one man: Marc Godard.
Through years of meticulous observation, controlled testing, technical forensics, and behavioral analysis, Chris Horlacher has assembled compelling evidence that Marc Godard was not a flawed advisor or opportunistic associate, but a long-term human intelligence asset embedded at the heart of Equibit from its earliest stages.
Marc Godard: The Profile of an Intelligence Asset
Marc Godard left Queen’s University only four credits short of completing a degree in Cognitive Science. This interdisciplinary field — which combines psychology, neuroscience, philosophy, and computer science — focuses on understanding perception, decision-making, influence, and behavioral manipulation. It is one of the most strategically valuable disciplines for intelligence agencies, particularly for constructing detailed psychological profiles (“psychograms”), identifying leverage points, and designing long-term influence operations.
A declassified CIA document on asset recruitment specifically highlights the value of individuals with strong analytical skills, psychological insight, social adaptability, and the ability to build trust while maintaining operational discipline. Godard’s academic background fits this profile closely.
Additional details from the Marc Godard Memo raise even deeper concerns. He maintained two different birthdates — a “real” and a “fake” one — a known tradecraft technique. He reportedly admitted to Chris that he might be a psychopath and confessed to secretly recording women during sexual encounters without their knowledge. Such behavior indicates a profound lack of empathy, impulse control issues, and a comfort with deception and predation that intelligence agencies have historically found useful in certain operational roles.
For years, Godard appeared to enjoy significant financial flexibility despite never holding conventional employment. He claimed this stemmed from rescuing and selling a Pita Pit franchise shortly after leaving university and investing the proceeds in physical gold bullion stored in a Brinks vault, liquidating portions through Kitco as needed. Brinks is well-documented as a vehicle used by Canadian law enforcement and intelligence agencies for off-books payments to undercover officers and informants.
In 2013, immediately prior to the founding of Equibit Group, Marc took a contract with Iris Software Inc., a Toronto startup from the same year that somehow secured a major encrypted document signing and storage contract with Telus — a telecommunications giant subject to strict national security oversight. Public records show the company’s key figure had a residential address in Tehran, Iran, a major red-flag that would almost certainly have disqualified them from obtaining the Telus contract. Iris Software was later administratively dissolved in 2025 for failing to meet statutory obligations.
As Dr. Steve R. Pieczenik, a former State Department consultant and psychiatrist with deep experience in intelligence matters, has noted, recruiters often target promising individuals by offering money, excitement, and a more glamorous life than they could otherwise achieve. Once recruited, “the bottom line is that you work for them forever.” Godard’s decision to walk away from his degree just short of completion — combined with his subsequent lifestyle, access to funds, and pattern of behavior — is consistent with someone who may have accepted such an offer.
2010: Initial Contact Triggered by Online Activism
Marc Godard first made direct contact with Chris Horlacher in September 2010, where he approached Chris at his booth at a mining industry expo hosted by Cambridge House in Montreal, where Marc lived. At that time, Chris was actively engaged in online activism concerning government overreach, privacy rights, civil liberties, and emerging technologies. This was years before Equibit was conceived.
The timing strongly indicates that Marc’s approach was triggered by Chris’s growing visibility as an independent thinker challenging centralized power structures. Intelligence agencies routinely monitor online spaces for technically capable, ideologically driven individuals who show potential to influence future developments in finance, technology, or activism. Godard’s early contact fits the classic pattern of spotting and cultivating a person of interest long before any specific project materializes.
From that point forward, the relationship developed in a way that eventually positioned Marc to play a central role as Equibit took shape. He did not simply join a company — he helped guide its trajectory from within. Marc even served as Chris’s best man in his 2015 marriage to the woman who was drugged and nearly raped or kidnapped in 2018 at World Crypto Con.
The Sudden Exit, ICO Pivot, and Return
Following Equibit’s successful 2017 token sale, Marc Godard made a shocking and abrupt departure from the company. He cited a desire to spend more time with his young son as the primary reason for leaving. This explanation was accepted at face value by the team.
Subsequent facts reveal a different picture.
Godard had actually incorporated Token List Inc. approximately one month before delivering his resignation. He then went on to collaborate with Nathan Wosnack on a new blockchain project involving an Initial Coin Offering (ICO). While this venture was not in direct competition with Equibit’s core decentralized securities platform, it represented a substantial new commitment of time and resources in the blockchain space — directly contradicting his stated reason for stepping away from Equibit.
The timing of both his departure, and subsequent return, is particularly striking. Godard was largely absent during the bulk of the Ontario Securities Commission’s investigative efforts and subsequent enforcement action against Equibit. He re-engaged and became more active again only after the OSC’s enforcement action had failed and Sergei Sachkov’s sudden disappearance in mid-2018 — an event that caused major code loss and operational disruption at a vulnerable time for the company.
This pattern — incorporation of a new blockchain entity prior to resignation, exit immediately after a major capital raise, absence during the height of regulatory pressure, and strategic re-engagement during company weakness — raises serious questions about his true motivations and whether his involvement was ever that of a conventional co-founder and investor
CEO Role During Crisis
By late 2018, Equibit was in existential crisis: they had just overcome an enforcement action by the Ontario Securities Commission (part of the entrapment scheme Marc had been carrying out against Chris), funding had dried up in the crypto winter, internal tensions were rising, and difficult downsizing was underway. It was at this precise moment of maximum vulnerability that Marc Godard stepped into the CEO position. He gained sweeping access to intellectual property, code repositories, investor communications, legal strategy, and operational decision-making.
This was the ideal strategy for Marc to play after the failure of his entrapment scheme involving the OSC. By building additional trust from Chris by returning to the company and helping manage the crisis, he hoped to create another blind spot from which Chris could be entrapped again.
Little did Marc know, he was already under investigation.
The Systematic Testing of Marc Godard
Chris Horlacher is a careful and methodical investigator, he was trained by Deloitte and employed as a Senior Auditor of the country’s largest and oldest corporations. He did not reach his conclusions through paranoia or haste. He ran a deliberate, multi-year testing protocol.
The Plaintiff Test
When Equibit filed its Statement of Claim against Christian Saucier, David McFadzean, and others, Chris deliberately allowed Marc Godard to join as a co-plaintiff. This was a high-integrity test. A genuine ally would support the effort to recover assets and hold betrayers accountable. An asset protecting other interests would eventually be forced to reveal himself.
The betrayal came. Marc’s support for the litigation vanished around mid-2025, which coincides with a number of illegal hacking events that Chris anticipated and documented extensively. Alongside the digital assault, Marc attempted a hostile takeover of the company to oust Chris and terminate the lawsuit against Christian.
Controlled Disclosures
Chris fed Marc specific sensitive information multiple times and observed reactions. The most telling was the DNS Man-in-the-Middle controlled disclosure. After discovering evidence that his DNS queries were being routed through third-party servers, Chris disclosed this knowledge to only a single person he knew to be in contact with Godard. Within 24 hours the man-in-the-middle was removed and his DNS queries were resolving normally again.
Post-Equibit Entrapment Schemes
After Equibit’s collapse, Marc’s behavior allegedly shifted toward classic handler tactics. The most notable was the YourTimeFS project. Marc actively encouraged Chris to join this new venture spearheaded by a man who had a prior OSC conviction for securities violations. The project carried significant regulatory, legal, and reputational risks. Participation could have exposed Chris to further OSC scrutiny, potential liability, or created compromising material that could later be used against him. This fits the pattern of post-operation containment and leverage creation — attempting to draw the target into new compromising situations after the initial plan failed.
The 2025 Confrontation
Even after his shares were formally repurchased by the company in 2025 following his betrayal of the company in the lawsuit against Christian Saucier, Marc continued attempts to exert control, including trying to call shareholder meetings, even fraudulently representing himself to the defense lawyers as the new Executive Director of Equibit. Chris responded with a direct and pointed email on September 19, 2025, laying out the history of betrayal and demanding explanation.
You, Christian and Brent are not current shareholders…
When you asked to join the lawsuit against Christian I was somewhat excited yet confused. Your sudden and unexplained decision to no longer pursue the litigation against Christian was concerning. However, now your blatant attempts to take control of Equibit Group Ltd. so that you and Christian can derail and stop the litigation is most certainly not in the best interests of Equibit Group Ltd. These actions are self-serving and for the sole benefit of you and Christian.
I expected a last minute betrayal like this. I did not expect that you would try two more times after failing so spectacularly at your first hostile takeover.
The exchange crystallized nearly five years of investigation and accumulated evidence.
Technical Evidence That Ties It Together
The human intelligence component explains the precision of the technical attacks: persistent TR-069 router compromises, DNS man-in-the-middle attacks, Microsoft intrusions, coordinated de-banking and OSC pressure. An insider with executive access makes such coordination far more feasible.
Much more evidence exists that strongly suggests Marc is actively working for the Five Eyes, including his own business activities immediately prior to and after his departure from Equibit. These are discussed below in the full Marc Godard memo. This document was written after Marc attempted an illegal hostile takeover of the company with the expressed aim of withdrawing the very lawsuit he had just spent over four years prosecuting alongside Equibit Group against Christian Saucier.
The Broader Implications
If a CSIS asset can embed himself in a legitimate Canadian technology company, guide it into crisis, participate in its dismantling, and continue containment/entrapment efforts afterward, it means the rules have fundamentally changed for innovators in Canada and the Five Eyes nations.
This is alleged domestic targeting of a citizen whose only “crime” was stating Charter-protected opinions about limited government and the constitutional rule of law online. The Equibit case suggests that any sufficiently competent individual who critiques Big Government can trigger full-spectrum response: technical, financial, regulatory, reputational, and human intelligence.
Chris Horlacher continues to document and fight not only for justice in his own case, but because the precedent matters to every Canadian who values innovation, due process, and the rule of law.
The full Marc Godard memo, supporting emails, technical evidence, and the complete Factum are being released publicly at equibitlawsuit.com. The strategy is maximum sunlight.
The evidence is extensive. The timeline is documented. The tests were conducted patiently. The pattern is clear.
Read the full archive: https://equibitlawsuit.com/news/
Share this story. Demand transparency. Demand accountability.
Because if they can do this to one founder, the only question left is: who is next?
