Credit: Andreas Prott/Adobe Stock Hacked Crypto Company Hit With RICO Class Action
This suit was surfaced by Law.com Radar. Read the complaint here.
April 03, 2023 at 11:39 AM
1 minute read
Banking and Finance Laws
The original version of this story was published on Delaware Business Court Insider
Ben Au, Douglas H. Meal and Lauren Kessler of Orrick, Herrington & Sutcliffe and Young Conaway Stargatt & Taylor partners Robert M. Vrana and Anne Shea Gaza have stepped in to represent Illusory Systems Inc., the creator of a crypto blockchain bridge, and other defendants in a pending civil RICO class action. The suit, filed Feb. 17 in Delaware District Court by Saul Ewing; Gupta Wessler PLLC; and Fairmark Partners LLP, accuses the defendants of failing to implement innovative security features to protect investors assets. According to the suit, the bridge was hacked on Aug. 2022, resulting in the loss of $186 million of investors assets. The case, assigned to U.S. District Judge Richard G. Andrews, is 1:23-cv-00183, Singh v. Illusory Systems, Inc. et al.
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