Butterfly Labs Urges Court to Dismiss FTC's 'Self-Serving' Fraud Charges
Embattled mining hardware company Butterfly Labs has filed a motion to dismiss a Federal Trade Commission (FTC) complaint against the company. Butterfly Labs (BFL) was shut down by the FTC last month following numerous claims of public misrepresentation and downright fraud. However, in spite of nearly 300 customer filings against the company, BFL still insists it is the victim of overzealous regulators and intends to resume limited operations in the near future. The sentiment is evident in the opening remarks of the latest filing, in which the company alleges the FTC headed a
Related News
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 is facing a lawsuit for over $5 million that alleges that it was negligent in its business dealings, and even accuses the company of downright fraud. The suit was brought by Martin Meissner, who placed a $62,000 order for BFL miners back in March 2013. Meissner claims he did not received the units or a refund for his payment, according to a report in Ars Technica. The suit was filed in December, and it accuses Butterfly Labs of fraud, negligent representation and breach of contract. Motion to dismiss. Butterfly Labs and its attorneys refused to comment on the matter, but....
A week ago, the Federal Trade Commission (FTC) shut down Butterfly Labs (BFL), one of the reasons for this being that "consumers who have purchased the machines or services cannot use them to generate Bitcoins because Defendants [Butterfly Labs] never provide them with the machines or services." The FTC released new court filings today for its Butterfly Labs case. The most recent report by the FTC against Butterfly Labs is that they mined for bitcoins on their customers' miners before shipping them (if they even shipped them at all), and didn't tell the customer: Fraud. New Evidence....
The US Federal Trade Commission (FTC) has announced that it has reached a settlement with bitcoin mining hardware maker Butterfly Labs after it sued the firm in 2014. At the time, the FTC accused Butterfly Labs of deceptive business practices related to the development and sale of bitcoin mining equipment, as well as the receipt of customer funds for product preorders. The agency said today that it has settled charges filed against Butterfly Labs and two of its officers: vice president of product development Sonny Vleisides, who has an ownership stake in the firm, and general manager Darla....
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