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    Cayman cryptocurrency fund Invictus Hyperion sues over ‘pump and dump’ ICO

    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.

    Invictus Hyperion v. Menlo One et al: Complaint

    Complaint alleging fraud regarding the MET/One digital tokens in Invictus Hyperion, of the Cayman Islands v. Menlo, Inc., d.b.a. Menlo One, of Delaware; Menlo Corp., of the Cayman Islands; Matthew Nolan, of New York; Tiaan Wolmarans, of South Africa; David Dawson, of New York; Marcie Grambeau, of New York, and Jake Baval, of New York, at the U. S. District Court for the Southern District of New York.