CZ and Binance face new lawsuit for alleged laundering of stolen crypto
One legal expert says if the class-action lawsuit progresses, it could put the “efficacy of blockchain analytics itself” on trial.
Binance and its former CEO Changpeng “CZ” Zhao are facing a new class-action lawsuit from three crypto investors who say they couldn’t recover their stolen assets because the exchange failed to prevent money laundering.
In an Aug. 16 class action complaint filed in the U.S. District Court for the Western District of Washington, Seattle, the plaintiffs allege their crypto was stolen, and those funds were sent to Binance by the thieves to “remove the connection between the ledger and their digital assets,” making them untraceable.
Three plaintiffs have filed a civil action complaint against Binance and former CEO CZ. Source: PacerMonitor
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Author: Stephen Katte
