We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Cryptocurrency Outlet Hit With TRO In Investor Action

Law360, New York (January 31, 2018, 3:27 PM EST) -- Cryptocurrency trading platform BitConnect has been slapped with a temporary restraining order by a Kentucky federal court after the investors suing the U.K.-based marketplace in a proposed class action said its owners might try to hide “money generated from the class” or “dump it into another scam.”

U.S. District Judge Joseph H. McKinley Jr. on Tuesday granted investor Brian Paige’s motion requesting a TRO, which Paige filed along with his complaint Monday. Paige says BitConnect’s business model “was both a pyramid scheme and a Ponzi scheme,”...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.