The initial coin offering industry is plagued by scams, shady projects, and a lot of miscommunication. In the case of the Envion ICO, the founders are suing Matthias Woestmann and his corporation for breaching contractual obligations. This legal action against the shareholders of Envion AG, registered in Switzerland, doesn’t bode all that well for this particular project. What is Going on With Envion? As we have seen with the Tezos ICO, a discrepancy between initial promises and the end result often leads to legal action. While the Tezos team was capable of resolving such concerns amicably after a few tough months, itPowered by WPeMatico
A few months ago the U.S. Commodity Futures Trading Commission (CFTC) charged a Staten Island-based company called Cabbage Tech with ‘fraud and misappropriation’ of funds based in Bitcoin and Litecoin. According to the CFTC, it revealed it had charged Patrick McDonnell and his company Cabbage Tech for crimes associated with allegedly promising big returns on […]