Mining
Reading time: ~2 m
Representatives of the American crypto miner Coinmint said that 2 companies staged an “elaborate deception” to force company executives to sign a $150 million purchase agreement. Now representatives of the firm are demanding $23 million in compensation and plan to get it through the courts.
We are talking about the fact that the technology firm Katena Computing and the semiconductor development company DX Corr allegedly developed a plan for enrichment. Ultimately, after signing the agreements and receiving the money, they did not fulfill their obligations in full. According to the prosecution, representatives of the organizations could not and did not plan to deliver the promised equipment.
According to lawyers, Katena Computing “wrongly influenced, bribed and incentivized associates,” including one unnamed individual in the mining industry. The lawsuit alleges fraud, breach of contract and fiduciary duty, and assistance and incitement against DX Corr and its executives and former Coinmint employees.
Coinmint’s lawyers demanded “actual, compensatory and consequential damages, among other things, in the amount of $23 million.” According to lawyers, these funds were spent on “various wires” and also became lost profits for the company.
Katena Computing disagrees with the allegations of breach of contract with Coinmint. The lawyers of the organization noted that they demand compensation for damages caused by the inability of the organization’s management to pay for the agreed equipment. “Representatives of the company are ready for an open dialogue, but the arbitration process requires confidentiality. When we can speak more openly, we will,” a spokesperson for Katena said.
#Coinmint #Miner #Sues #Million #Damages
