Bittrex and Poloniex Targeted in Class-Action Crypto Manipulation Suit

Cointelegraph

Published Jun 04, 2020 02:22AM ET

Updated Jun 04, 2020 04:00AM ET

The plaintiffs behind a class-action alleging that Bittrex and Tether drove the 2017 bull run through market manipulation have requested the issuance of summons to exchanges Bittrex and Poloniex.

The lawsuit, first filed in October 2019, alleges that veteran cryptocurrency exchange Bitfinex and its sister company Tether inflated the supply of Tether’s USDT stablecoin without proper US dollar backing to drive up crypto prices during 2017’s all-time high. The suit is on behalf of investors who purchased crypto assets at what they believe are artificially inflated prices.

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