CZ and Binance Face New Lawsuit Over Alleged Laundering of Stolen Cryptocurrencies
A legal expert claimed that if the class action goes ahead, it could put the “effectiveness of blockchain analytics itself to the test.”
Binance and its former CEO Changpeng Zhao (CZ) are facing a new class action lawsuit filed by three cryptocurrency investors who claim they were unable to recover their stolen assets because the exchange failed to prevent money laundering.
In a lawsuit filed in the U.S. District Court for the Western District of Washington, Seattle, the plaintiffs allege that their cryptocurrencies were stolen and that those funds were sent to Binance by the thieves to “eliminate the connection between the ledger and their digital assets,” making them untraceable.
