Cryptocurrency exchange, Hotbit, face Italian class action lawsuits

More than 90 investors have brought class-action lawsuits in Rome court against Hotbit cryptocurrency Exchange claiming they have lost more than a million Euro in assets after the website has been hit by a hacker attack and lost parts of the database, resulting in investor transactions disappearing. Investors are suing after the company refused to refund their funds.

The lawsuit, filed on Tuesday in Rome District Court, also names executives of the company. 

Earlier this year, we reported how a class-action lawsuit was filed in New York’s Southern District against a number of crypto exchanges and token issuers, including Block.one.  The case against Block.one has now been settled, with the company paying $24 million.  

It is now time for Hotbit, as more and more investors join the class action we can easily imagine that the claim amount could exceed $10 million. 

We will keep you posted as events involve!

For more information https://www.hotbit.io/