Investor Drops Suit Over Cryptocurrency Hacking

Law360 (October 22, 2018, 7:09 PM EDT) -- A New York federal judge on Monday tossed an investor’s proposed class action accusing a bitcoin alternative creator of allegedly steering him to trade on an Italian exchange that lost hundreds of millions of dollars’ worth of digital currency to hackers, after the investor dropped the case.

U.S. District Judge Nina Gershon dismissed the case against Texas-based Nano nearly a month after investor Alex Brola voluntarily dismissed the suit. Representatives for Brola could not be immediately reached on Monday to clarify why the suit was dropped, but lead defense counsel Peter Scoolidge of Scoolidge LLP told Law360 that "the plaintiff withdrew...

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