DWF Maas and Falcon Digital, two companies linked to market maker DWF Labs, sued BitGo in the High Court of London on Friday, October 8, seeking $141 million in damages. They allege that the custodian breached a private over-the-counter agreement by selling locked-up tokens prematurely.
BitGo had received Falcon Finance (FF) and ESPORTS tokens at a discount, on the understanding that it would not sell them before the end of their vesting periods. But court filings allege that it transferred them to exchanges around two months before the first unlock. DWF claims that the premature sale in an illiquid market eroded the value of the tokens it still held. BitGo declined to comment on the allegations.
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BitGo had received Falcon Finance (FF) and ESPORTS tokens at a discount, on the understanding that it would not sell them before the end of their vesting periods. But court filings allege that it transferred them to exchanges around two months before the first unlock. DWF claims that the premature sale in an illiquid market eroded the value of the tokens it still held. BitGo declined to comment on the allegations.
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$ESPORTS
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