DWF Labs affiliates sue BitGo for $141M over early token sales
#DWFLabs affiliates #DWFMaas and #FalconDigital have filed a lawsuit against crypto custodian #BitGo in Londonโs High Court, alleging that BitGo breached an OTC agreement by selling $FF (Falcon Finance) and ESPORTS tokens before the agreed lock-up period expired, contributing to a decline in their prices. The parties agreed on a discounted token price subject to a three-month lock-up period and a subsequent vesting schedule.
DWF alleges that BitGo transferred the tokens to an exchange around two months before the first unlock, triggering selling pressure and reducing the value of its remaining holdings. DWF is seeking $141M in damages. BitGo has declined to comment on the lawsuit, and the allegations have yet to be adjudicated by the court.
๐ crypto.news/bitgo-sued-for-141m-over-early-token-sales
#DWFLabs affiliates #DWFMaas and #FalconDigital have filed a lawsuit against crypto custodian #BitGo in Londonโs High Court, alleging that BitGo breached an OTC agreement by selling $FF (Falcon Finance) and ESPORTS tokens before the agreed lock-up period expired, contributing to a decline in their prices. The parties agreed on a discounted token price subject to a three-month lock-up period and a subsequent vesting schedule.
DWF alleges that BitGo transferred the tokens to an exchange around two months before the first unlock, triggering selling pressure and reducing the value of its remaining holdings. DWF is seeking $141M in damages. BitGo has declined to comment on the lawsuit, and the allegations have yet to be adjudicated by the court.
๐ crypto.news/bitgo-sued-for-141m-over-early-token-sales