We previously wrote about the certification of a class action brought on behalf of Canadian investors against an asset trading platform operated by Binance Holdings Limited and its Canadian subsidiaries, Binance Canada Capital Markets Inc. and Binance Canada Holdings Ltd. (collectively, “Binance”). Binance appealed the certification, and the Court of Appeal recently released its decision […]
Category Archives: Cryptocurrency Fraud
The Ethereal Realm of Cryptocurrency and the Spectre of Fraud
The dawn of the cryptocurrency era has ushered in a new paradigm of digital finance characterized by its decentralized architecture, pseudonymous transactions, and immense innovation potential. However, this nascent landscape has also become a fertile breeding ground for fraudsters, who exploit the very attributes that define it. The Elusive Nature of Digital Deception Cryptocurrency fraudsters […]
Ontario Court Gives Green Light to Investigate Cryptocurrency Exchange
The cryptocurrency market has yet to recover from its all-time highs, and in the wake of its slowed growth, litigation has arisen amongst a popular cryptocurrency exchange. Binance, one of the world’s largest online cryptocurrency asset trading platforms, has been investigated by the Ontario Securities Commission (“Ontario Securities Commission”) for failing to bring its operations […]
Court Declines to Grant Interim Relief Staying Investigation Order
Injunctions are powerful legal remedies that can be requested by a party and granted in a vast range of disputes. The purpose of an injunction is to either force a party to do something or prevent them from doing something to preserve assets or evidence. Injunctive relief is often sought in commercial disputes, such as […]
Ontario’s Former “Crypto King” Facing Bankruptcy and Investor Claims After Losing Millions
A 23-year-old self-titled “Crypto King” from Whitby, Ontario, who just months ago was written about in finance publications, is now embroiled in a bankruptcy proceeding, and facing the ire of several investors who claim he lost their life savings. Aiden Pleterski, owner of AP Private Equity Limited, initially made headlines in Canada and abroad after […]
Ontario Residents Targeted in Cryptocurrency Scams
Phone and email-based fraud has long been an issue in Canada, with targets commonly being duped into sending cash or even gift cards to fraudsters, usually online. However, scams are now moving into the cryptocurrency realm, with cryptocurrency ATMs publicly available throughout Ontario. According to the RCMP, cryptocurrency fraud went up by more than 400% […]