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Nomad Bridge's Illusory Systems Seeks to Dismiss Class-Action Lawsuit Related to Hack From Last Year
Summary: Illusory Systems, the company behind Nomad Bridge, recently attempted to dismiss a class action lawsuit related to a $190 million hack that occurred last year, according to reports by Blockworks. The lawsuit alleges that Illusory Systems made "illusory promises," claiming to employ advanced cryptography to protect user assets but ultimately failed to fulfill these commitments. Illusory, ...
Illusory Systems, the company behind Nomad Bridge, recently attempted to dismiss a class action lawsuit related to a $190 million hack that occurred last year, according to reports by Blockworks. The lawsuit alleges that Illusory Systems made "illusory promises," claiming to employ advanced cryptography to protect user assets but ultimately failed to fulfill these commitments. Illusory, alongside Archetype, Ethereal Ventures, Consensys, Coinbase, and Alchemy, filed a motion to dismiss the case. The argued that the goal of the plaintiffs is not to "hold the hackers liable for their wrongdoing and the harm they caused," but rather to "blame Illusory and the Keyholders for purported shortcomings in certain security features that allegedly allowed the assets to be stolen, and seek to hold Illusory and the Keyholders liable for their losses.” A court has yet to grant or deny the motion to dismiss.
Author: Katie Lin
Tags: class action,Illusory Systems
Link: Nomad Bridge's Illusory Systems Seeks to Dismiss Class-Action Lawsuit Related to Hack From Last Year [Copy]
