If you believe that you may have invested in an ICO that was part of a fraudulent scheme or if you otherwise suffered from the action of a bad actor in the cryptocurrency space, please call us for a free consultation.
Eager to find the next Bitcoin or Ethereum, investors drove the ICO market from just $10 million during the first quarter of 2017 to nearly $7 billion dollars during the first quarter of 2018. While this period saw a number of revolutionary projects that provided exceptional returns to investors, the early ICO landscape was also saturated with bad actors looking to exploit unsuspecting investors through a myriad of fraudulent schemes.
While cryptocurrency and blockchain based companies have faced an abundance of regulatory actions in recent years, individuals may still have a private right of action to pursue remuneration for any harm suffered as a result of investing in cryptocurrency. Generally, an individual that invested in a fraudulent cryptocurrency project or participated in an unregistered ICO may be allowed to file a lawsuit within five years of the alleged misconduct or within two years of discovering the unauthorized activity.