The former customers of Vircurex cryptocurrency exchange filed a suit against the firm. The lawsuit accused the exchange to have breached the contract, indulged in fraud and unjust enrichment. The exchange had frozen the accounts with the funds worth $50 million. Only a few customers were refunded small amounts of cryptocurrencies that were frozen.
The legal clash between Ripple and R3, a startup, is now $19 billion worth. Ripple was sued by R3 to have violated the partnership agreement by terminating the contract over which R3 had right to obtain up to 5 billion XRP. Later the court held R3 for non-fulfillment of obligations and nullified its right to obtain XRP. The final judgment will be set out by the court in New York for this $19 billion XRP options contract.
Giga Watt, a startup aimed at creating a cryptocurrency mining facility, it is bound by a lawsuit filed by their aggrieved investors. The investors have contributed nearly $20 million for the ICO launched by Giga, though their currency are now worth five times the investment, the investors are not given any crypto or tokens that should have been supplied. They exposed that their “money and time” is lost since the project is not developed any further.