U.S. District Court for the Central District of California at 350 W 1st St. in Los Angeles. Photo: Amanda Bronstad/ALM Swan Bitcoin Enlists Gibson Dunn in Alleged Billion-Dollar Mining Heist Case
"As laid out in Swan's complaint, the theft of Swan's trade secrets and confidential information is staggering and alarming," said Harris M. Mufson, a partner at Gibson, Dunn & Crutcher.
September 26, 2024 at 04:36 PM
4 minute read
What You Need to Know
- Former consultants allegedly stole proprietary information to launch a rival company.
- Swan Bitcoin has filed a lawsuit against the defendants, seeking to protect its trade secrets and business.
- The case highlights the competitive and high-stakes nature of the cryptocurrency industry.
A cryptocurrency financial services firm has filed a trade secrets complaint in a federal district court in Los Angeles against a "copycat company" over its "rain and hellfire" plan to steal the firm's "billion-dollar bitcoin mining business."
Harris M. Mufson, Ilissa Stacy Samplin, Christine Demana and Matthew D. McGill, partners at Gibson, Dunn & Crutcher in the Am Law 10 firm's New York, Los Angeles, Dallas, and Washington, D.C., offices, respectively, are the lead attorneys for the plaintiff, Electric Solidus Inc., also known as Swan Bitcoin, in its complaint against the defendants, Proton Management Ltd. and six ex-Swan consultants.
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