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Cayman cryptocurrency fund Invictus Hyperion sues over 'pump and dump' ICO

July 01, 2019 by David Marchant

HIGHLIGHTS

  • Plaintiff claims that defendants only formed Cayman entity "to shield themselves of liability and to circumvent various U.S. regulations"
Cayman Islands-domiciled "tokenized venture capital fund" Invictus Hyperion claims to be a victim of a U.S.-based "pump and dump" securities fraud after it invested $250,000 in a "pre-sale" for an Initial Coin Offering for a digital token whose price "plummeted by more than 90 percent" within a month of the ICO being completed.

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