compensation – DIGIT INFO

Ex-CEO of Mine Digital stole $1.5M from a Bitcoiner, says regulator

DIGIT — Tue, 22 Oct 2024 03:44:46 +0000

The dodgy transaction happened just two months before the firm went bust in September 2022, says the Australian financial regulator.

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Washington Investors Set to Reclaim Digital Currency in GS Partners Settlement

DIGIT — Fri, 11 Oct 2024 09:16:23 +0000

After over a year of negotiations, the Washington State Department of Financial Institutions (DFI) has joined a multi-state settlement agreement with GS Partners. Accused of violations under Washington’s Securities Act, the case centers on GS Partners’ Metacertificates and a multi-level marketing scheme. Investors can now submit claims through a newly established portal, opening in November […]

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Women in crypto earn 15% more than men: Pantera Capital survey

DIGIT — Tue, 30 Jul 2024 23:23:33 +0000

Women comprise a larger proportion of mid-level and senior positions compared to entry levels, which are dominated by men, Pantera’s researchers said.

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Bankruptcy law firm S&C absolved from misconduct, according to new FTX proposal

DIGIT — Wed, 08 May 2024 10:45:58 +0000

FTX’s amended plan contains an exculpation clause that could absolve Sullivan & Cromwell, along with all debtors, of future liabilities.

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Quadriga CX Customers to Finally Receive Payout: Creditors to Get 13% per Dollar

DIGIT — Sat, 13 May 2023 17:19:58 +0000

EY, the global accounting and professional services organization, released a long-awaited update on Friday for the creditors of Quadriga CX. The Canadian cryptocurrency exchange, which had sought bankruptcy protection in 2019 with liabilities of C$215.7 million and assets totaling around C$28 million, had left its creditors in a state of uncertainty. In the latest notice […]

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Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors

DIGIT — Thu, 30 Mar 2023 21:05:00 +0000

Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured […]

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At Least 1,000 Lawsuits Filed Against Crypto Miners in Russia’s Irkutsk Region

DIGIT — Tue, 14 Feb 2023 05:45:02 +0000

Authorities in the Russian region of Irkutsk have so far filed 1,000 lawsuits against what they call “gray” miners, or people minting coins in their homes. In over half of these cases, courts have ordered the defendants to compensate the operators of the distribution networks. Hundreds of Crypto Miners Sued in Irkutsk for Extracting Digital […]

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Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power

DIGIT — Thu, 27 Jan 2022 07:00:10 +0000

The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in electricity consumption in the Russian region. The supplier accuses the miners of burning cheap household electricity in what is, in fact, a business activity. Power Utility Takes Crypto Miners to Court […]

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Court Decision Voids Crypto Mining Contracts in China, Shuts Down Bitcoin Farms

DIGIT — Thu, 16 Dec 2021 13:37:17 +0000

A court in Beijing has ruled that three investment agreements for bitcoin mining operations in Sichuan are “invalid.” A compensation claim has been rejected in the case, viewed as an indication that the Chinese judiciary would not provide protection for crypto-related interests. Beijing Court Invalidates Bitcoin Mining Contracts The Chaoyang District People’s Court in the […]

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Onecoin Victims Petition Bulgaria for Seizure of Assets and Compensation

DIGIT — Fri, 19 Nov 2021 18:30:00 +0000

A lawyer representing investors defrauded by the notorious crypto scam Onecoin has urged authorities in Bulgaria to act on the case, claiming that the “world’s largest pyramid scheme” is still operating from the country. In a petition with the Bulgarian Constitutional Ombudsman, Jonathan Levy accuses officials in Sofia of failing to provide justice to the […]

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