Canadian 'blockchain consultant' allegedly receives $80,000 for services, provides nothing

Quick Take

  • StoAmigo International, LLC v. Vanbex Group, Inc. et al.
  • An employee of Vanbex promised to handle almost everything for a token sale for $80,000
  • StoAmigo alleges that it paid Vanbex the funds and received nothing in return
  • StoAmigo’s request for refund was denied by Vanbex

Bare-knuckled bitcoin litigation, agents (but not the James Bond kind), and why too much of a good thing isn’t sometimes. This week’s CCM covers each of these as we look at two new crypto lawsuits, and one new opinion. [As always, Rosario summaries are “NMR” and Palley summaries are “SDP”]

Disclaimer: These summaries are provided for educational purposes only by Nelson Rosario [twitter:@nelsonmrosario] and Stephen Palley [twitter:@stephendpalley]. They are not legal advice. These are our opinions only, aren’t authorized by any past, present or future client or employer. Also we might change our minds. We contain multitudes. (Picture credit: https://pixabay.com/en/car-car-wreck-oldtimer-vehicle-1904648/; CC0 Creative Commons)

[related id=1]StoAmigo International, LLC v. Vanbex Group, Inc. et al., 2:19-cv-00224, C.D. Ca. January 10, 2019 [NMR]

This is not your typical ICO related lawsuit. No, in this suit the plaintiff is actually an establish