BlockBeats reported that on October 17, blockchain analysis company Chainalysis faced a $650 million defamation lawsuit for allegedly mistakenly labeling the YieldNodes project as a scam. The case will be heard in the New York Supreme Court on October 16.
The plaintiff, Exceptional Media, claimed that Chainalysis's misclassification had caused serious damage to its reputation and customer base and was malicious. Chainalysis filed multiple motions to dismiss, arguing that the complaint failed to prove that its analysis was wrong and insisted that YieldNodes may indeed be an investment scam. Chainalysis declined to comment on the case.