Binance, CZ, BitBoy Crypto Dragged Into New $1 Billion Lawsuit

Apr 03, 2023 · 1 min read · 50 points
Binance, CZ, BitBoy Crypto Dragged Into New $1 Billion Lawsuit
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Law firm Moscowitz Law Firm and Boies Schiller Flexner filed class action lawsuit against Binance. Lawsuit claims Binance listed unregistered securities as cryptocurrencies and paid social media influencers to promote these assets. Law firms claim they

Highlights

  • Law firms Moscowitz Law Firm and Boies Schiller Flexner filed a class action lawsuit against Binance.
  • Lawsuit claims the crypto exchange listed unregistered securities as cryptocurrencies and paid social media influencers to promote these assets.
  • Plaintiffs say they lost money while trading digital assets promoted by Binance and influencers.
  • Binance was yet to respond to BeInCrypto’s request for comment at the time of writing.
  • The lawsuit is filed on behalf of three plaintiffs — two Florida residents and a person from California — who said they lost $1 billion.
  • Meanwhile, the US Department of Justice is reportedly investigating the exchange and its founder.

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