Former Binance founder CZ faces new class-action lawsuit in Seattle federal court
2024-08-21 01:33:54
According to U.Today, former Binance CEO Changpeng Zhao (CZ) and Binance have been accused of involvement in a new class action lawsuit. The lawsuit was filed in Seattle federal court, alleging that Binance laundered money for criminals through its platform to the detriment of consumers. The plaintiffs claim that Binance, as a "cryptocurrency money laundering empire," allows hackers, thieves and other criminals to launder illegal gains on the platform and make huge profits in this way. The lawsuit also alleges that Binance's actions constitute illegal extortion and violate the RICO Act. Previously, CZ pleaded guilty to money laundering violations in November last year and was sentenced to four months in prison in April this year.
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