On April 3, 2020, multiple class-action law suits were filed in the Southern District of New York against a host of crypto exchanges and token issuers, including Binance, Bibox, KuCoin, HDR Global Trading Ltd (which operates BitMEX), Tron Foundation, Block.one, BProtocol Foundation (also known as Bancor), Civic Technologies Inc., the Kyber Network, Quantstamp Inc., and Status Research & Development GmbH. Investors Chase Williams, Alexander Clifford, William Zhang, and Eric Lee, on behalf of the proposed investor classes, allege…
On June 21, 2019 a Connecticut federal judge certified a class of alleged victims of a cryptocurrency mining Ponzi scheme. Class certification is another step forward in providing legitimate avenues of restitution for those who have been defrauded by cryptocurrency schemes. The suit, led by Denis Marc Audet, alleges that GAW Miners LLC, ZenMiner LLC, and Stuart Fraser (who allegedly had control of the two companies) defrauded him and thousands like him in violation of…