A lawsuit has been filed against a start-up based in New York by Oracle over a similar naming. The start-up has named their company as CryptoOracle and accused by Oracle to purposely attempting to mislead consumers. In the filing, “CryptoOracle seeks to trade on Oracle’s reputation as an innovator and leader within the technology industry, and to evoke among consumers the goodwill that Oracle has built-in its famous brand.”
A former partner of a blockchain firm, Orbs based in Israel, Elad Arad has sued the company in a failed joint Venture, Cointree Capital. From the lawsuit stated, “The respondents (the Peled brothers) exploited Cointree Capital’s business opportunities to set up new companies based upon new opportunities in the new world of virtual currencies, as well as ideas and plans of Cointree Capital.”
The former chief executive cryptocurrency exchange, Mt Gox reported facing a class-action lawsuit brought in Philadelphia. Previously, 850,000 bitcoins belongings to the customers of Mt. Gox had been stolen which approximately $450 million during that time. Mt. Gox was owned by a French citizen living in Japan named Mark Karpeles & he argues that court has no jurisdiction over the case as the exchange was based and operated out of Japan.
The Northern District of California has formally filled charges against BTC-e exchange and its CEO, Alexander Vinnik for operating an unlicensed money service as well as conspiracy to commit money-laundering. The prosecutor expounded, “On some occasions, customers contacted BTCe’s administration directly with questions regarding how to process and access proceeds obtained from the sale of illegal drugs and from transactions on known “darknet” illegal markets, including Silk Road
The Hangzhou Internet Court made in a ruling recognizing Bitcoin as having legal value as property. Chu, co-founder of Kenetic Capital explained the verdicts, “While exchanges and companies that are trading Bitcoin have been banned in China personal ownership and exchange has not been ruled illegal. This has left space for individual ownership while institutional Chinese trade has moved offshore, but intact.”
The federal judge has dismissed AT&T motion in its legal battle with investor Michael Terpin who has sued the telecom giant for $224 million for its alleged cooperation with the hacker and gross negligence. Judge Wright stated, “…AT&T and Mr. Terpin have adverse legal interests of sufficient immediacy and reality to warrant a claim for declaratory judgment. The terms of the wireless customer agreement are directly implicated by this lawsuit, particularly the terms that Mr. Terpin has identified.”
Major Spanish bank Santander has been denied an appeal regarding a decision by the Court of Justice of the State of Satildeo Paulo in a case against crypto exchange Mercado Bitcoin, The banks Itau Corpbanca and Scotiabank had locked the accounts for the exchanges BUDA and CryptoMKT, and the public bank Banco del Estado de Chile had frozen Orionx account as well as BUDA and CryptoMK.
The Supreme Court of New York had ruled that the Tether should cease issuing loan funds to its associated exchange Bitfinex. The Judge Cohen wrote: “The Court finds that the preliminary injunction should be tailored to address OAG’s legitimate law enforcement concerns while not unnecessarily interfering with Respondents’ legitimate business activities.” But Tether reaffirmed that “it remain committed, as ever, to protecting our customers.”
DJ Khaled Music producer and former professional boxer Floyd Mayweather, both involved in promoting Centra Tech’s ICO have been facing lawsuit brought by investors in a fraudulent initial coin offering. But the latest court document have dismissed the case as the judge ruled the investors who brought the legal action failed to prove they bought tokens as a direct result of the pair’s actions.
Crypto investor and entrepreneur Michael Terpin was awarded $75.8 million in California’s Supreme Court in a civil judgment against a man Terpin claims stole cryptocurrency assets from him. He will likely need to prove AT&T contractual provisions stating they are not liable for customer losses were void once he was placed in the telco’s high-risk customer category list and still had his SIM swapped and his crypto fortune swiped.