The blockchain can be a hostile environment for business and individuals.
We can provide legal advice and assistance for most blockchain related issues, including the following:
• Securities and Consumer Litigations
• Cryptocurrency Exchanges Disputes
• Breach of contract disputes
• Data Breach Claims
• NFT related Claims
• Locked Accounts
• Frozen Assets
In recent years we have seen a dramatic surge in the use of Bitcoin and other cryptocurrencies, including Ethereum, Litecoin, Zcash, Dash and Ripple, by businesses. Towards the end of 2017, Bitcoin’s market cap exceeded $100 billion making it worth more than a number of large US companies, including Goldman Sachs and eBay. However, the first few years of this new financial technology have been unsettled, resulting in a number of disputes and litigation.
Cryptocurrencies are a virtual form of currency that may be traded on online exchanges for conventional currencies, including the Euro, GBP or U.S. Dollar, or used to purchase goods and services online. The popularity and acceptance of cryptocurrency has increased dramatically since its introduction about a decade ago; however, because cryptocurrency has no single administrator or central authority or repository, its volatility and lack of external regulation and oversight has left many of its users legally unprotected.
Cryptocurrency litigation is a rapidly developing frontier in the legal field. Cases are being filed every week against coin exchanges and individuals by both private citizens and governments.
Because we get so many calls from potential clients who have issues with exchanges, we generally limit the cases we take to those in which more than £10,000 is at issue. We sincerely regret being unable to help everyone.
Cryptocurrency litigation is all forms of litigation revolving around the current cryptocurrency boom. Lawsuits have been filed over a variety of difficulties that have arisen with the new coins. Other lawsuits allege that currency exchange users have been locked out of their accounts or have seen their crypto assets frozen.
When a new product starts to develop, litigation and regulation frequently follow. Cryptocurrencies have been available for the better part of a decade. During the current boom many businesses sprung up to compete and many people purchased cryptocurrencies without realising the possible ramifications of their investment.
Our attorneys are at the forefront of this cutting-edge field of law, having represented hundreds of cryptocurrency users deceived and abused by cryptocurrency exchange operators in a variety of legal disputes.
We have prosecuted individual claims against Bitcoin Savings and Trust, Binance, Coinbase, Kraken, and other leading cryptocurrency exchanges; and for our clients, we have achieved historic results.
In addition, we have represented, crypto investors in claims against Initial Coin Offering (ICO) who believe they were led astray by misleading or outright false inducements used to secure their cryptocurrency investments.
Moreover, we have alleged in each of those claims that the pre-functional tokens offered by the issuers were, by definition, “securities” that had to be (but were not) registered with the appropriate securities regulators.
Unregistered and fraudulently-offered securities are a serious threat to investors, and we fight tirelessly to protect investors harmed by such dangerous offerings.
Our cryptocurrency litigation attorneys have the expertise to represent a wide variety of clients. These include buyers and sellers of cryptocurrencies, lending institutions, technology developers and platforms, and investors in blockchain and cryptocurrency-related companies.
The unsettled legal landscape and regulations associated with cryptocurrencies raise significant risks to anyone getting involved in this field. Best practice is to be proactive and seek qualified legal advice before moving forward. Where litigation does result, consulting experienced counsel as soon as possible can mitigate liability and protect your rights.
Case management must begin with a clear understanding between the attorney and the client as to both outcome objectives. The attorney should inform the client whether the attorney believes it is possible to achieve the client’s expectations at a cost acceptable to the client.
Like a well planned trip, litigation should start with a good roadmap, flexible enough to accommodate changes in strategy needed as the case proceeds.
We will review your documents and other available evidence relevant to the matter, and prepare a written preliminary assessment of the ways in which the documents and other evidence might affect the outcome objectives, including the law or laws that most likely would govern the case.
It is the rare case in which a litigated outcome is preferable to a settlement. Unless the client is staunchly opposed to settlement, or there are sound business, personal, or strategic reasons why settlement is not desirable or should not be pursued at this juncture, or both the client and the attorney believe that all reasonable settlement avenues have already been exhausted, the client and attorney should jointly plan and carry out a good faith attempt to settle the matter at the earliest opportunity.
As soon as the Preliminary Case Assessment and Litigation Plan in completed, or even earlier if appropriate, the attorney should suggest ways in which a settlement proposal can be structured or a settlement attempt can be approached to enhance the likelihood of meeting outcome objectives and cost objectives through settlement.
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