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BY CNA Team - September 28, 2018

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DigitalX sued for US$1.83mil

Investors of an ICO sues DigitalX for US$1.83mil
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ASX-listed DigitalX, a Perth-based initial coin offering (ICO) advisory as well as provider of crypto trading services, has been served with an originating application and statement of claim in the Australian federal court.

It says in a Sept 28 stock exchange filing that the originating application and statement of claim for US$1.83mil plus damages was filed by a group of parties relating to an investment made by those parties in an ICO to which the company was an advisor.

DigitalX is denying any claim of wrongdoing. The company believes that there are strong grounds to defend any claims, for reasons “that will become apparent as this matter progresses”.

DigitalX says the company’s legal advisors continue to review and examine the claims made, and intends to vigorously defend this matter and protect its reputation.

According to the Motley Fool Australia, the company has provided ICO advisory services to projects that raised in excess of US$361mil for domestic and international ICO projects during the last financial year ended June 30, 2018.

Image courtesy of DigitalX website.

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