Butterfly Labs Issues Statement Regarding FTC Complaint

Butterfly Labs Issues Statement Regarding FTC Complaint

Earlier today, it was reported that Butterfly Labs was the target of a Federal Trade Commission civil lawsuit, which alleged the company has conducted fraudulent and deceptive business with customers - many of whom are in the United States. The Federal Trade Commission effectively has put a halt on the Kansas-based company's operations - freezing assets and forcing an injunction that has brought the assembly line to a grinding halt. And Butterfly Labs isn't taking kindly to the actions. In a lengthy statement issued by the company's spokesperson, Butterfly Labs suggests the Federal Trade....


Related News

Butterfly Labs Attempts to Dismiss FTC Complaint

Three weeks ago, the Federal Trade Commission shut down Butterfly Labs. Butterfly Labs is a company that sells Bitcoin mining hardware. It's been accused of scamming and lying to customers time and time again. Recently, the Federal Trade Commission (FTC) reported that Butterfly Labs was lying to customers in multiple ways, one being that they mined on their customers' hardware for extended periods of time before shipping it. This morning, Butterfly Labs tried to dismiss the FTC's complaint. Also read: FTC Shuts Down Butterfly Labs... Finally. The FTC claims that Butterfly Labs spent their....

BFL Seeks to Have FTC Complaint Dismissed

The Federal Trade Commission (FTC) has caused Kansas-based Butterfly Labs (BFL) more than a few problems as of late. Having previously succeeded in halting the BFL's operations, the FTC wants justice for the consumers they represent who claim to have received products extremely late and not as described. Butterfly Labs, on the other hand, just wants to be the entire situation behind themselves and continue their business of manufacturing cryptocurrency mining hardware. In fact, the company is looking to have the FTC's complaint dismissed, according to a lengthy statement released today....

Butterfly Labs to Reopen Under Court Oversight

Butterfly Labs argued successfully in court yesterday that the order to remain closed had irreparably harmed their company, convincing the Judge to agree to allow them to continue operations under court oversight. The company, which produces Bitcoin mining equipment, was closed down in September after allegations that it had failed to deliver products on time to its customers and that it had used their customer’s equipment to profit from mining. "The Butterfly Labs web site pages attached to (the FTC complaint) instead show a pattern of consistently updated shipping projections,....

Butterfly Labs Issues Statement on FTC Hearing in U. S. District Court

The drama involving Butterfly Labs continues, it appears. And while the Federal Trade Commission (FTC) has sought to put the Kansas-based company out of operation through an injunction, it would seem the Butterfly Labs will continue coasting along for a bit longer. A Stipulated Interim Order was entered today by the United States District for the Western District of Missouri, allowing the bitcoin mining hardware manufacturer to unlock their doors and continue working. The company, which produces miners like the Monarch and Jalapeño, issued the following statement Thursday (sent to us by....

US Goverment shuts down Butterfly Labs!

Butterfly Labs was one of the very first mining firm is now in deep trouble as US Goverment is taking legal actions against them. Butterfly Labs was accused of fraud and misrepresentation. FTC documents say that the companies assets were frozen. The story began with really upset customers who failed to received their pre paid miners. Butterfly Labs has violated Section 5(a) of the FTC Act. BFL were basically engaging in “unfair or deceptive business practices in or affecting commerce”. We have contacted butterfly Labs to get some information regarding the shut down but they said