Zhao Changpeng is facing a new class action lawsuit in the Seattle Federal Court

2024-08-21 09:29:01

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ChainCatcher news, according to U.Today, former Binance CEO Zhao Changpeng (CZ) and Binance have been accused of being involved in a new class-action lawsuit. The lawsuit was filed in a federal court in Seattle, alleging that Binance facilitated money laundering for criminals through its platform, harming consumer interests. The plaintiffs claim that Binance operates as a "cryptocurrency money laundering empire," allowing hackers, thieves, and other criminals to launder their illegal gains on the platform and profiting immensely from this activity. The lawsuit also accuses Binance of engaging in illegal extortion, violating the RICO Act.

Previously, CZ pleaded guilty to money laundering violations last November and was sentenced to four months in prison in April of this year.

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