Investors Seek Asset Freeze For BitConnect In Fraud Suit

Law360 (February 5, 2018, 9:44 PM EST) -- A proposed class of investors accusing cryptocurrency marketplace BitConnect of being both a pyramid and Ponzi scheme asked a Florida federal court on Monday for an emergency order freezing assets of the now-shuttered trading and lending platform, saying that such a move is necessary to stop their money from being spent or shunted into another scam.

The temporary restraining order proposed by the investors would also apply to the BitConnect promoters named as defendants in the suit and would come with an order requiring them to disclose their cryptocurrency wallet addresses so their compliance with the asset freeze can be monitored....

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