A federal judge in Texas ruled in absentia against Bancor DAO (which operates decentralized financial platform Bancor) after it failed to respond to an online subpoena. Judge Robert Pitman did not appear to defend himself after Bancor DAO issued a subpoena on the DAO forum in January 2024, so the ruling was made.
"Defendant Bancor DAO failed to respond or otherwise defend itself within the time allowed, as the plaintiffs have proven," District Court Clerk Philip Delvin wrote on March 13. Investors involved in this class action lawsuit claim they lost tens of millions of dollars as a result of the exchange's failure to warn about liquidity issues during the peak withdrawal period in 2022.
A Texas court has ruled in absentia against Bancor DAO after it ignored a subpoena
2025-03-14 05:46:34
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