Many people have lost money because of the bad behavior of cryptocurrency exchanges. This behavior includes downplaying risk, offering unregistered securities and misrepresenting financial strength.
People have also lost money due to crypto theft and crypto fraud.
People have lost money after investing in many different crypto exchanges, including:
Call us today for a free consultation, or text us from this page, if you or a loved one suffered from crypto losses due to crypto fraud, crypto theft or the bad behavior of a cryptocurrency exchange.
Crypto Lawyer 2023 Latest News And Updates
- In May 2023, the Judicial Panel on Multidistrict Litigation was told by a plaintiff’s lawyer that, despite objections over claims not overlapping, investor litigation regarding FTX’s collapse should undergo consolidation in Florida.
- The JPML, on May 25, 2023, will hear arguments regarding the consolidation of plaintiff actions. The arguments will be regarding litigation of the 2022 collapse of cryptocurrency exchange FTX. Plaintiffs have requested consolidation regarding seven actions. They are asking for the actions to be consolidated in the United States District Court for the Southern District of Florida. The district also maintains a couple of pending class actions against FTX which were previously consolidated. These class actions named FTX executives and “insiders” as defendants, in addition to brand ambassadors such as Steph Curry, Shaquille O’Neal, Tom Brady and Larry David. FTX’s meltdown is described by the consolidation proposal as “the largest financial fraud in US history.” The proposal describes “unprecedented” fraud which caused investors around the world billions in crypto losses. It is expected that the case will be consolidated because of the large number of affected investors.
- On April 17, 2023, The SEC filed a lawsuit against Bittrex alleging that the crypto trading platform was operating as an broker, exchange and clearing agency for securities. The lawsuit alleges that Bittrex knew it was allowing securities to be bought, sold and traded on its platform, knew it should have registered with the SEC because of this, and, instead of registering, engaged in a campaign consisting of asking issuers of securities that it allowed the buying, selling and trading of on its platform to remove from the internet any statements implying their products were securities.
- On February 10, 2023, plaintiffs filed a request with the JPML. They requested that the increasing number of lawsuits over the collapse of FTX be consolidated before a single judge so pretrial proceedings can be coordinated. The cases allege their crypto assets were stolen and that they were blocked from withdrawing their assets.
- On January 12, 2023, the SEC filed a lawsuit against Genesis and Gemini, alleging that unregistered securities were offered and sold through Gemini Earn.