Lawyers for Israeli Crypto Entrepreneur Say White Paper Confers No Legal Responsibility

Moshe Hageg’s lawyers claim that the white paper is a descriptive, non-binding document.

Moshe Hogeg, the Israeli entrepreneur behind blockchain firm Stox (STX), has denied misappropriating investors’ funds in a response to the lawsuit filed against him. Online newspaper The Times of Israel reported the development on Saturday, Feb. 9.

As Cointelegraph wrote earlier in January, Chinese investor Zhewen Hu has sued Stox and its founder for $4.6 million. Hu claims to have invested a total of around $3.8 million worth of Ethereum (ETH) in an open source, Ethereum-based prediction market platform.

According to the lawsuit, Hu’s anticipation was that the successful development of Stox’s prediction market platform would boost the value of the native STX token. However, the plaintiff believes that only $5 million of successfully raised $34 million went to fund Stox.

Moreover, Hu alleges that Hogeg used the…

Read Full Story : News

2019-02-10 14:27:00

What do you think?

0 points
Upvote Downvote

Written by Cointelegraph

California Engineer Loses $422,000 in Life Savings after Using QuadrigaCX; Is Help Coming?

Ethereum Classic [ETC] 51% attack leads Metronome Token to deploy new contract