$5 million Dogecoin lawsuit filed against Coinbase
#Coinbase, the largest US exchange, has been sued over a #Dogecoin #campaign. The $100 #DOGE buyer filed a class action lawsuit against the exchange, demanding $5 million on behalf of all users to recover damages.
A Coinbase user sued the exchange for $5 million. The plaintiff, named David Suski, stated that his campaign at the time the exchange listed Dogecoin was based on deceiving users. Suski stated that he had to make a $100 DOGE trade to participate in Coinbase's $1.2 million lottery.
“The right to participate was free but they didn't show it”
According to the information obtained from the case file, the plaintiff states that the right to participate in the sweepstakes may be free of charge, but Coinbase does not openly show it to its users for their financial interests. Coinbase's contests are based on customers' participation in the sweepstakes by using any of the exchange's products or services.
In the competition, which started on June 3, in which Suski participated, the prize was Dogecoin with a value of 1.2 million dollars. After listing Dogecoin on the PRO app, the exchange held the contest to encourage token trading. With the announcement of the $ 1.2 million Dogecoin award competition, Coinbase informed its customers both through the mobile application, website and mail. In the informational articles, it was stated that users must make a DOGE trade of 100 dollars or more as a condition to participate in the lottery.
The lawyer of the plaintiff Suski, on the other hand, stated that participation is free, but the exchange does not show it, the rule is only written in a separate section called “Rules and details”. In Coinbase's competition conditions, it is stated that users can participate in the lottery by sending an e-mail to the stock exchange with a photo of the document on which their identity information is written clearly.
The plaintiff, on the other hand, claims that in order to mislead people, the exchange claims that at least $100 in transactions should be made. As a result, the lawyer underlines that his client can participate in this competition without paying 100 dollars and transaction fees, and says that if Suski knows about this, he will not make this payment in any way.
The lawyer also stated that millions of users suffered losses due to this campaign, and stated that they had opened this case on their behalf, and that they wanted a loss of 5 million dollars on their behalf.