US judge dismisses crypto fraud case against BNT token issuer
A U.S. federal judge ruled to dismiss a case against crypto firm Bancor, citing lack of personal jurisdiction and the plaintiff’s failure to prove losses. A federal district court in the United States has dismissed a securities fraud class action against Israel-based cryptocurrency firm Bancor.U.S. district judge Alvin Hellerstein ruled on Monday to dismiss a case against Bancor, stating that plaintiffs had failed to allege losses as well as citing lack of personal jurisdiction. The judge has also canceled an oral argument scheduled for March 4, 2021, entering judgment in favor of the....
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A Manhattan federal judge has dismissed a securities fraud class action against Bancor after ruling that the plaintiff’s allegations were not enough to give the court jurisdiction. According to a report, the dismissal of the case against represents the first such ruling “in a suite of similar cases filed by crypto investors represented by Selendy & Gay and Roche Cyrulnik.” US Courts Have no Jurisdiction In their motion against Bancor, which has offices in Switzerland and Israel, the plaintiffs led by Timothy Holsworth, had argued that the protocol’s “BNT....
"Litigation will expose this case for what it is: a clumsy attempt at a money grab, which recklessly harms the whole cryptocurrency ecosystem," said Tether. The judge in the class-action lawsuit filed in the Southern District of New York against stablecoin issuer Tether and crypto exchange Bitfinex has granted motions to dismiss many of the claims in the case.According to court documents filed Sept. 28 in the Southern District of New York, District Judge Katherine Polk Failla has granted motions from Tether’s and Bitfinex’s parent company iFinex to dismiss key claims in the plaintiffs’....
A Brazilian judge has ruled that the CEO of Mirror Trading International should remain in precautionary detention as authorities in South Africa have already furnished their Brazilian counterparts with the documentation that is required for extradition purposes. The judge also rejected Johann Steynberg’s attempts to use his Brazilian family as the basis for seeking an end to his precautionary detention.
Documentation for Steynberg’s Formal Extradition
A Brazilian judge recently dismissed an application by Johann Steynberg — the mastermind behind Mirror....
A U.S. court in Miami has dismissed an amended complaint in the lawsuit that accused nine defendants including Kraken founder Jesse Powell, Bitcoin.com founder Roger Ver, Bitmain’s Jihan Wu, and a few open-source Bitcoin Cash developers of collusion. U.S. Magistrate Judge Chris McAliley dismissed the amended complaint under Federal Rule of Civil Procedure on March 31, 2021. Cased Dismissed Back in 2018, after the Bitcoin Cash (BCH) and Bitcoinsv (BSV) network split, a Florida-based blockchain company called United American Corp – “Unitedcorp (UAC)” attempted to sue....
The first case of NFT insider trading has come to a close as a US Judge has sentenced a former OpenSea employee to prison. OpenSea Head Of Products Arrested For Fraud Nathaniel Chastain, former Head of Products of OpenSea, the world’s largest non-fungible token (NFT) marketplace, has been condemned to three months in prison. The […]