Crypto Lawsuits

Kim Kardashian has allegedly tricked investors into a cryptocurrency scam involving EthereumMax. She is part of a group of celebrities, including Floyd Mayweather Jr. and Paul Pierce, accused of a “pump n’ dump” scheme. They convinced millions of their social media followers into buying the digital coin. Then, once its price inflated, they sold their holdings for a considerable, yet illicit, profit. Some of the victims filed a class-action complaint last Friday in the U.S. District Court for the Central…

Two years ago, three individuals filed a lawsuit against Chase Bank NA, the sixth-largest bank globally and a subsidiary of banking giant JPMorgan Chase & Co. The lawsuit was filed because Brady Tucker, Ryan Hilton, and Stanton Smith were charged huge fees for purchasing cryptocurrency, with the allegations that the bank didn't warn them in advance regarding a change in its policy. The allegations put forward in the lawsuit noted that the bank's customers who used their credit cards to…

Ripple is a well-known company in the crypto space. The payment and exchange network aims to provide an instant and easy way to move money globally. Although Ripple's idea was conceived in 2004, it wasn't until 2011 that the company actually came to be, with investors jumping on board to support Ripple Labs.  Ripple comes with its own currency, XRP, and presents several benefits for crypto enthusiasts. It's a simple design for starters as a day-to-day payment system makes transactions…

A Singapore court recently noted that the trade reversal practice on exchanges is not right. The ruling came in favor of trader B2C2 against a cryptocurrency exchange firm dubbed Quoine. & orders by B2C2 were canceled by this exchange firm Quione in the 2017 bull market period. Both parties, in particular transactions, were autonomous algorithms; there was no chance of human errors. Exchange operations involve deriving the prices of the crypto assets from other crypto exchanges.  The other exchange platforms…

The Commodity Futures Trading Commission (CFTC) recently filed charges against Denver Local Breonna Clark and Venture Capital Investments Ltd. As per CFTC’s statement on the 14th of February, the two firms defrauded investors and did not register with the agency. Additionally, there were claims by Clark and Venture Capital Investments Ltd on the management of a forex and cryptocurrency trading pool, persuading US participants to involve themselves in it for alleged financial gain. More on What the Fraud Involved CFTC…