Examples of K&S’s representative matters in the crypto space include:
- Acting as lead counsel in a class action against Uniswap and related parties (Risley et al. v. Universal Navigation Inc. et al. 1:22-cv-02780) concerning novel issues of securities laws, currently pending in the Southern District of New York.
- Representing investors in over 100 arbitrations against Gemini and the Winkelessvoss twins alleging fraud and misrepresentations in connection with the Gemini Earn program.
- Representing investors whose Coinbase or Gemini accounts have been compromised due to hacks, sim swaps and/or phishing attacks. We have sought and successfully negotiated remedies against Coinbase, Gemini and various cell phone providers through arbitration.
- Advising individuals who have been the victim of NFT and token scams.
- Representing and advising other crypto asset investors who have incurred a variety of losses.
James R. Serritella, who heads K&S litigation and crypto practices, is a known expert in the field. He has been interviewed and quoted in publications such as the New York Times, Wall Street Journal, and Law360, specifically in regard to crypto matters.
The unique challenges of this fast-evolving space.
Investments in crypto assets have increased dramatically in recent years. In particular, more and more individuals are investing in fungible tokens launched on decentralized exchanges (DEXs). Given that DEXs typically fail to provide the safeguards that are characteristic of traditional stock exchanges, many token developers readily engage in fraudulent activity, such as rug pulls, pump-and-dumps, misrepresentations on social media, intentionally misleading advertising, and various other scams. K&S is committed to helping investors who have been victimized by such fraud.
Other areas of investment in the DeFi space that have experienced substantial growth in volume are lending and borrowing platforms. These protocols encourage users to borrow against their crypto assets or lend them out to other users and venture capital firms. Lending and borrowing platforms often fail to make clear disclosures in plain English about the dangers of using their protocols. Particularly opaque are the specifics of how/where users’ lent assets are being held and used, and the actual risk of liquidation for those who borrow crypto assets from the protocol. Due to both their actions and inactions, operators of lending and borrowing platforms may be in violation of U.S Securities Laws.
If you have lost money investing in the crypto space, particularly on lending and borrowing platforms, please contact us confidentially and free of charge at crypto@kandslaw.com or (212) 931-8135, and we will help assess any potential claims you may have. Even if you do not believe you were the victim of fraud, you may still have a claim.
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