Buyers Say Scammers Flourished As Crypto Biz Made Billions
By Elise Hansen (April 5, 2022, 8:37 PM EDT) -- Digital-asset exchange Uniswap allows "rampant fraud" on its platform, incentivized by a fee structure that's allowed it to charge users billions, a proposed class of token buyers told a New York federal court.
North Carolina resident Nessa Risley on Monday spearheaded allegations that Universal Navigation Inc., which does business as Uniswap Labs, has limited vetting practices and is selling unregistered securities on its cryptocurrency trading platform.
Uniswap allows the issuance of "thousands of scam tokens," according to the complaint. Risley says the exchange, which is one of the largest digital-asset exchanges globally, has lax screening practices that allow "rampant fraud."...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!