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Earlier this year, legal experts warned that celebrity ICO endorsers would be looking at court time in the near future. Now, it’s come to pass that a lawsuit has been filed against some of the biggest names in current pop culture.
In the red corner is the boxing champion himself, Floyd ‘money’ Mayweather and the in the blue corner is the world known music producer, DJ Khaled… and both of them have been slapped with a lawsuit.
Producer DJ Khaled and boxer Floyd Mayweather have allegedly been sued over their involvement as celebrity endorsers with the Centra Tech cryptocurrency scam.
An exclusive report from TMZ said boxer Floyd Mayweather and well-known producer DJ Khaled are involved with a lawsuit claiming they participated in the Centra Tech cryptocurrency scam.
Reporting from the outlet said a class action lawsuit noted how the duo were celebrity endorsers who promoted the virtual currency on social media.
The TMZ report said investors are looking to get their money back, plus damages, from company founders and the celebrity endorsers.
Blockvest is being sued the Securities and Exchange Commission for making false claims that the regulator’s approval for its planned ICO. The regulator is looking for an injunction against the defendant in return for all the financial gains of its ICO activities.
The complaint again Blockvest
According to Ethereum World News, the SEC gained an emergency court order form a US District Court to prevent Blockvest planned ICO to go ahead as well as the current pre-ICO sales.
A lawsuit has reportedly been filed in South Korea against a local cryptocurrency exchange over its price-pumping schemes involving token issuance. The suit alleges that Cashierest’s token which pays dividends and rebates transaction fees to investors violates the country’s capital markets law.
Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals
South Korean law firm Aone filed a complaint with Seoul Central District Court on Oct. 5 against Newlink Co. Ltd., the owner of crypto exchange Cashierest, according to local media. Lawyer Kim Dong-joo at Aone’s Seocho branch explained that his firm is pursuing charges against the crypto exchange for deviating from the public interest in order to restore the health of the cryptocurrency market, Zdnet Korea conveyed.
Embattled 3D printable gun advocate Cody Wilson and his Texas-based company, Defense Distributed are being sued by nearly two dozen states in the US. Attorneys General are marshaling a coast-to-coast legal fight against Mr. Wilson after he had an agreement with the US Department of State that effectively allowed Defense Distributed to host downloadable firearm blueprints for use with a 3D printer. In response, Mr. Wilson launched a two-week fundraising and media campaign to raise awareness of his plight, hoping to be able have digital 3D firearm blueprint files freely downloadable from his website.
Unikrn, an esports gambling startup that raised approximately $ 31 million through an initial coin offering (ICO) in 2017, has become the latest ICO-funded project hit with a class-action lawsuit by a disgruntled investor. The Seattle-based company, which launched in 2014 as the world’s only fully-licensed and regulated esports betting platform, has been sued by lead
The post Mark Cuban-Backed Unikrn ICO Sued by Disgruntled Investor appeared first on CCN
Mobile phone service providers AT&T have allegedly been sued a grand total of $ 240 million over a cryptocurrency theft that has seen one customer, Michael Terpin lose around $ 24 million worth of cryptocurrency at the hands of the mobile phone network provider. Terpin is best known as the CEO of Transform Group and is a notorious figure within cryptocurrency and the blockchain industry.
Terpin believes that the theft occurred as a result of a visit to an AT&T shop in Connecticut.
Continue reading Network Providers AT&T Sued Over $ 24 Million Crypto Theft at Crypto Daily™.
A local cryptocurrency exchange in Chile has reportedly filed a lawsuit against six major banks in the country for abusing their power and quashing its crypto payment business. This lawsuit follows another one filed in Chile against ten banks by a different crypto exchange.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Chilean cryptocurrency exchange Orionx filed a lawsuit with the country’s Court for the Defense of Free Competition (TDLC) against six major banks in the country last week, according to Diario Financiero. The six banks are Bancoestado, Banco de Chile, Banco Bice, Itaú Corpbanca, Santander, and Scotiabank.
High interest rates, as well as fees, charged from customers who’ve used their credit cards to purchase cryptocurrencies, have given merit to a full-fledged lawsuit filed against JP Morgan Chase & Co.
Brady Tucker claims JP Morgan Chase & Co has started treating his cryptocurrency purchases as cash advances back in January when, instead, they should have been regarded as buys. Due to this, the bank has supposedly started charging him with additional fees and with ‘sky-high’ interest rates of as much as 30% per annum.
Six BitConnect investors, who collectively lost over $ 700k on the platform, are taking the company and its affiliates to court in the US.
Earlier this month, BitConnect released this piece of so-called ‘System News’ on its website, outlining the fact that closing the Bitconnect lending and exchange platform. In line with the halt, the company reported that it would be moving forward with some key changes made to its platform, primarily rooted in the idea that BitConnect would serve as a wallet service and, at the same time, would news and educational services through its platform.
An Israeli shell company, Apollo Power, had its stocks soar after revealing that they had harnessed solar power for crypto mining. However, such claims turned out to be exaggerated, and they are now being sued.
One of the most intriguing debates about cryptocurrency is the power used in mining and for transactions. Some have said that the total power consumption used by Bitcoin miners is more than the total of 19 European countries. Then there’s the fact that most of Bitcoin mining occurs in China, which uses coal to fuel their power plants. Such issues are why people are looking very hard for ways to reduce power consumption when mining cryptocurrencies. It seemed that a solution had appeared when an Israeli company said that they had completed a successful experiment using solar power for crypto mining. However, the company is now being sued as such a claim is being labeled as misleading.
**On today’s episode of The Cryptoverse:**
An update on the Tezos controversy. Tezos Founders Sued for Securities Fraud in Potential Class Action, which could lead to a wave of copycat attacks on ICOs.
The lawsuit involved Tezos founder Kathleen and Arthur Breitman and Johann Gevers.
And we’ll do a daily check in on the progress towards the Segwit2x hard fork.
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