Federal Trade Commission Files Civil Lawsuit Against Butterfly Labs
The Federal Trade Commission recently filed civil lawsuit against Kansas-based Butterfly Labs for using "fraudulent" and "deceptive" practices against its customers. The lawsuit was filed in the state of Missouri last week (on September 15th, to be precise), and names three of the company's board members: Darla Drake (also known as Jody Drake), Nasser Ghoseiri, and Sonny Vleisides as defendants. All of this stems from numerous complaints from the bitcoin community over unfulfilled or incredibly delayed orders. Often times, customers who received their delayed orders weren't able to mine to....
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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....
Butterfly Labs, a failed Bitcoin miner manufacturer, has been shut down by the Federal Trade Commission. According to a statement published on the regulator's website, the FTC shut down Butterfly Labs pursuant to a court order obtained from a court in the Western District of Missouri. Also read "We need to talk about Butterfly Labs". This past week, the FTC slapped Butterfly Labs, a Kansas bitcoin miner manufacturer, with a lawsuit. In the civil lawsuit, the FTC found that Butterfly Labs had contravened section 5(a) of the FTC Act by engaging in "unfair or deceptive business practices in....
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....
Butterfly Labs has agreed to settle the Federal Trade Commission’s charges of making misleading claims about their products to their customers. In a lawsuit that has dragged on since September 2014, the Kansas-based Bitcoin company presold computer hardware that was optimized for mining Bitcoin, charging as much as $30,000 for the specialized hardware. According to the U.S. trade watchdog FTC, Butterfly Labs was taking orders for Bitcoin mining machines, but very few machines were actually shipped, as Butterfly Labs was building and using the hardware to mine bitcoin for itself. In the few....
Embattled bitcoin mining manufacturer Butterfly Labs has announced that it will resume limited business operations following discussions with the Federal Trade Commission (FTC). The Missouri-based company will not be allowed to serve new consumers when it reopens, and will be restricted to fulfilling existing customer orders. Butterfly Labs further confirmed it will remain under the direction of a court-appointed receiver who will oversee the business. Butterfly Labs suggested that it aims to use this opportunity to rebuild its market perception, which it acknowledged has been impacted by....