New York Seeks $1.37B From Novatech Founders in Crypto Fraud Case

New York is seeking about $1.37 billion from Novatech founders Cynthia and Eddy Petion after a court entered a default judgment in a crypto fraud case. State filings show investors deposited more than $1.16 billion, while only about $26 million was sent to the platform used for trading. Novatech Founders Face $1.37B Claim After Failing […]
Key Takeaways
- New York is seeking about $1.37 billion from Novatech founders Cynthia and Eddy Petion after a court entered a default judgment in a crypto fraud case.
- State filings show investors deposited more than $1.16 billion, while only about $26 million was sent to the platform used for trading.
- Novatech Founders Face $1.37B Claim After Failing […]
Summary generated by IndiCrypto from News.Bitcoin.com. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Regulation

Bitcoin Core Rewrites Its Security Policy for a World Where AI Finds Bugs in One Prompt
Developers will now backport fixes and cut releases immediately for flaws flagged as “easily discoverable,” abandoning long embargoes for bugs an attacker can surface with a single AI prompt.

Coinbase to drop this Japanese yen stablecoin years after its price crash sparked investor lawsuits
Holders who want to avoid market-rate conversion must withdraw before Monday, ahead of GMO Trust’s Nov. 11 initial direct-redemption deadline. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The…

Initia halts network after security incident as attacker reportedly mints tokens
Onchain data shows a $2.7 million ether transfer as Initia investigates the scope of a security incident.