U.S. District Court for the District of New Jersey in Newark, New Jersey. (Photo: New Jersey Historical Society) Binance Sued After $30 Million in Crypto Stolen and Allegedly Laundered on Platform
The plaintiff alleged five causes of action, including RICO, through what he characterized as the "Binance crypto-wash enterprise."
August 22, 2024 at 01:21 PM
3 minute read
The original version of this story was published on New Jersey Law Journal
What You Need to Know
- A New Jersey man had crypto valued at $30 million stolen.
- He alleged that the digital assets were laundered on Binance.
- An expert broke down the process by which hackers launder digital assets.
Attorneys have sued Binance in a federal district court in Newark after a variety of cryptocurrencies valued at $30 million was stolen from their client and allegedly laundered through the global company's exchange.
Jose Ceide, a partner at Salazar Law in Miami, specializes in cryptocurrency litigation and is not involved in the underlying case between the plaintiff, David Gonzalez, and the defendant, BAM Trading Services Inc., which operates Binance.US and shares common majority ownership with the holding company that operates the Binance.com platform.
Jose Ceide of Salazar Law. Courtesy photo NOT FOR REPRINT
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