Express
European Investors Seek Compensation From Binance For At Least $140 Million
Summary: The crypto media The Block learned that an unnamed European investor has filed the International Chamber of Commerce (ICC) arbitration proceedings against cryptocurrency exchange Binance, seeking more than $140 million in compensation. The investor alleged that his/her funds were unfairly liquidated by the exchange in November 2020. The lawsuit, which has started in Switzerland, is aimed ...
The crypto media The Block learned that an unnamed European investor has filed the International Chamber of Commerce (ICC) arbitration proceedings against cryptocurrency exchange Binance, seeking more than $140 million in compensation.
The investor alleged that his/her funds were unfairly liquidated by the exchange in November 2020. The lawsuit, which has started in Switzerland, is aimed at more than 45 entities related to Binance around the world because the exchange did not disclose its headquarters.
The claim revolves around Binance's automatic clearing system, and the investor also claimed that Binance had a conflict of interest in the liquidation.
The ICC International Court of Arbitration is independent of any country. The parties involved in the cases and the arbitrators in the cases may come from any country. The main responsibility of ICC is to resolve international commercial disputes through arbitration in accordance with its arbitration rules and to promote the normal conduct of international commercial activities.
By Mary Liu
Tags: Binance
Link: European Investors Seek Compensation From Binance For At Least $140 Million [Copy]
