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Proton says Swan Bitcoin lawsuit is ‘fatally flawed,’ seeks dismissal

The ex-Swan employees at Proton Management said Swan Bitcoin’s mining lawsuit is baseless because 2040 Energy operated as a “separate entity.”

The Bitcoin mining firm accused by Swan Bitcoin of stealing its mining business through a “rain and hellfire” plan has denied the allegations, and is calling for the case to be dismissed.

In a Sept. 30 motion to dismiss, Proton Management said accusations made by Swan are “fatally flawed” because it “does not have a mining business” to begin with.

Proton said the Bitcoin mining business, 2040 Energy, was a separate entity fully funded by stablecoin issuer Tether, stating:

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Swan Bitcoin Alleges Ex-Employees Conspired to Steal Mining Business

Swan Bitcoin Alleges Ex-Employees Conspired to Steal Mining BusinessA newly filed lawsuit claims that Swan Bitcoin, a financial services company focused on bitcoin, is accusing former employees of trying to hijack its “billion-dollar bitcoin mining business.” According to the suit, Swan’s subsidiary Electric Solidus alleges that Proton Management dubbed a “copycat company” in the filing, stole trade secrets from their mining operations. Swan […]

Massive Leak Exposes 5,000,000 Credit and Debt Card Numbers, Along With Customers’ Financial Records and Personal Details: Data Protection Firm