Block.one Accused Of Violating Securities Law

Block.one, the issuer of the EOS token, has been sued by Crypto Assets Opportunity Fund LLC.

Block.one is accused of violating the securities law during the largest ICO in the history of the cryptocurrency industry. The plaintiff believes that the EOS developer has distributed knowingly untruthful information.

The lawsuit says that EOS led a fairly aggressive marketing campaign among US investors. The developers assured that their blockchain would be much better than all existing on the market.

“However, the EOS blockchain turned out extremely centralized and did not surpass other working blockchains,” the plaintiffs said.

Recall, the company Block.one was founded in 2017, it held the largest ICO in the history of the cryptocurrency industry raising $4 billion.

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