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11 class actions against 42 defendants in 16 countries alleging sale of unregistered cryptocurrencies

April 04, 2020 - The cryptocurrency industry experienced its own 'Red Wedding' on April 3rd when 11 class action complaints alleging the sale of unregistered securities were filed at federal court in Manhattan against 42 parties in the BVI, Canada, Cayman Islands, China, Estonia, Hong Kong, Israel, Japan, Malta, Seychelles, Singapore, South Africa, Switzerland, Taiwan, USA, and Vietnam.

Eric Lee et al v. Binance et al: Class Action Complaint

April 03, 2020 - Class Action Complaint alleging the sale of unregistered securities involving digital tokens known as EOS, BNT, SNT, QSP, KNC, TRX, FUN, ICX, OMG, LEND, ELF, and CVC in Eric Lee and Chase Williams v. Binance, described as the Malta-domiciled "largest cryptocurrency exchange in the world, with a market capitalization of $1.3 billion"; Changpeng Zhao, described as a resident of Taiwan; Yi He, described as a resident of Malta, and Roger Wang, described as a resident of Malta, at the U. S. District Court for the Southern District of New York.

William Zhang v. Civic Technologies Inc. et al: Class Action Complaint

April 03, 2020 - Class Action Complaint alleging the sale of unregistered securities involving digital tokens known as CVC in William Zhang v. Civic Technologies Inc., described as a Delaware-domiciled "blockchain-focused software development company ... with offices in California and Cape Town, South Africa"; Vinny Lingham, and Jonathan Smith, both residents of San Francisco, California, at the U. S. District Court for the Southern District of New York.

William Zhang v. BProtocol Foundation et al: Class Action Complaint

April 03, 2020 - Class Action Complaint alleging the sale of unregistered securities involving digital tokens known as Bancor Network Tokens in William Zhang v. BProtocol Foundation, described as a Switzerland-domiciled "blockchain-focused software development company"; Eyal Hertzog, Yehuda Levi, Guy Benartzi, and Galia Benartzi, described as residents of Israel, at the U. S. District Court for the Southern District of New York.

Chase Williams et al v. Block.one et al: Class Action Complaint

April 03, 2020 - Class Action Complaint alleging the sale of unregistered securities involving digital tokens known as EOS in Chase Williams and William Zhang v. Block.one, described as a Cayman Islands-domiciled "blockchain-focused software development company" with operations in New York, California, Virginia, Washington D.C., and Hong Kong; Brendan Blumer, described as "an American entrepreneur and investor" residing in Hong Kong, and Dan Larimer, described as "a software programmer and cryptocurrency entrepreneur" residing in Christiansburg, Virginia, at the U. S. District Court for the Southern District of New York.

Alexander Clifford v. Status Research & Development GmbH et al: Class Action Complaint

April 03, 2020 - Class Action Complaint alleging the sale of unregistered securities involving digital tokens known as SNT in Alexander Clifford v. Status Research & Development GmbH, Jarrad Hope, and Carl Bennetts, all of Switzerland, at the U. S. District Court for the Southern District of New York.

Alexander Clifford v. KayDex Pte Ltd. et al: Class Action Complaint

April 03, 2020 - Class Action Complaint alleging the sale of unregistered securities involving digital tokens in Alexander Clifford v. KayDex Pte Ltd., a.k.a. Kyber Network, of Singapore; Loi Luu, of Singapore; Victor Tran, of Vietnam, and Yaron Velner, of Israel, at the U. S. District Court for the Southern District of New York.

Alexander Clifford v. Bibox Group Holdings Ltd. et al: Class Action Complaint

April 03, 2020 - Class Action Complaint alleging the sale of unregistered securities involving an online exchange known as Bibox in Alexander Clifford v. Bibox Group Holdings Ltd., described as a British Virgin Islands-domiciled company based in New York; Bibox Technology Ltd., domiciled in Estonia; Bibox Technology Oü, domiciled in Estonia; Wanlin 'Aries' Wang, of Long Island, NY; Ji 'Kevin' Ma, of China, and Jeffrey Lei, of Singapore, at the U. S. District Court for the Southern District of New York.

Chase Williams v. Quantstamp Inc. et al: Class Action Complaint

April 03, 2020 - Class Action Complaint alleging the sale of unregistered securities involving digital tokens known as QSP in Chase Williams v. Quantstamp Inc., described as a Delaware-domiciled "blockchain-focused software development company ... with offices in San Francisco, Toronto, Taipei, and Tokyo"; Richard Ma, described as a resident of San Francisco, California, and Steven Stewart, described as a resident of Toronto, Canada, at the U. S. District Court for the Southern District of New York.

Alexander Clifford et al v. TRON Foundation et al: Class Action Complaint

April 03, 2020 - Class Action Complaint alleging the sale of unregistered securities in the form of digital tokens knowns as TRX in Alexander Clifford and Chase Williams v. TRON Foundation, described as a Singapore-domiciled "blockchain-focused software development company ... with offices in California, Singapore, and Beijing"; Justin Sun, and Zhiqiang (Lucien) Chen, described as residents of San Francisco, California, at the U. S. District Court for the Southern District of New York.

We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

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