At Redmins, we are proud of our track record in the cryptocurrency legal arena. Our relentless pursuit of justice for our clients has led to groundbreaking judgments and settlements. Our experience and successes include the following:
Bitcoin Savings and Trust and Trendon Shavers Case
When Bitcoin Savings and Trust and its founder/operator, Trendon Shavers, were found to have operated a Ponzi scheme that lured in unsuspecting cryptocurrency users, we took up the mantle to represent some of those victims. We were able to secure a judgment exceeding $11.2 Million against Bitcoin Savings and Trust and Mr. Shavers, proving our commitment and effectiveness in representing victims of cryptocurrency fraud.
Cryptsy Case
We represented victims in the landmark case against Cryptsy, the largest U.S.-based cryptocurrency exchange at the time. When Cryptsy abruptly shuttered its operations in early-2016, and its founder, Paul Vernon, absconded to China with approximately $8.2 Million in stolen cryptocurrency, we fought for the rights of the victimized customers. Our efforts secured judgments and settlements exceeding $10 Million against Cryptsy, Mr. Vernon, and their accomplices. Moreover, we obtained a precedent-setting ruling in which a federal judge ordered that 11,325 Bitcoin stolen from Cryptsy users — assets valued as high as $650 Million — be returned to the victims as a matter of law.
Kraken Case
We also successfully resolved a $50 Million group arbitration claim against Kraken, a highly popular U.S.-based exchange. This case revolved around issues arising from Kraken’s platform failures and inadequate security measures.
ICO Fraud Cases
We have represented crypto investors in class action lawsuits against Initial Coin Offering (ICO) promoters such as Tezos, Monkey Capital, and Giga Watt. These suits involve investors who were misled by false inducements to secure their cryptocurrency investments. We alleged that the pre-functional tokens offered by these issuers were, by definition, “securities” that had to be – but were not – registered with the appropriate securities regulators. We fought tirelessly to protect investors from such dangerous, fraudulently offered securities; and for those investors we secured favorable results.
For more information about our cryptocurrency investor lawsuits, click on the appropriate link(s) below:
- Liquid Bits v. Bitcoin Savings and Trust and Trendon Shavers
- Leidel, et al. v. Project Investors, Inc. d/b/a Cryptsy, et al.
- In re BitConnect Securities Litigation
- Hodges, et al. v. Monkey Capital, LLC, et al.
- Stormsmedia LLC v. Giga Watt
