Bryan Lawrence took legal action against the Crypto.com exchange over negligence practices.
Glow is a programmable yield ecosystem built on Terra, building yield-focused dApps that encourage $UST adoption. Glow was launched on Terra’s Mainnet on the 10th of January 2022 but later the token team shifted its token to the Binance Smart Chain (BSC) network. Bryan Lawrence is the founder of this token and Glow Token LLC is the backend company behind this crypto project.
On 18 Aug 2023, Brayn Lawrence informed his followers that Glow token company sued Forix Dax, the parent company of major cryptocurrency exchange crypto.com.
Good morning Glow Family!
I have not been able to talk about the situation until now so here is the formal statement to explain the situation and lawsuit against https://t.co/zGWE43JquH. Thank you everyone for your patience as we work to get a resolution. #GlowToken pic.twitter.com/clIQMHxIz6
—
Bryan Lawrence (@GlowTokenCEO) August 18, 2023
Bryan Lawrence (@GlowTokenCEO)
Through the suit, Lawrence said that he followed all due diligence throughout the listing process by directly verifying every step with Crypto.com and reviewing the listing contract but he later learned that he had never been in contact with official employees at all.
According to Lawrence, the CryptoCom team responded to this incident on 16 March & confirmed that he went through a scam trap.
Through the legal action, the Glow token founder said that he faced several issues in his life (financially & personally) because of this whole incident. To take legal action against CryptoCom, Lawrence sold his house.
Lawrence also said that the whole incident resulted in a very bad outcome for his health, facing some health issues in his stomach.
“I am currently consulting with specialists in the hope of finding a solution to my health problems,” Lawrence said.
CryptoCom token price action
Following this news, the trade price of the CryptoCom token (CRO) crashed by 3-4% for a few hours but later recovered easily.
The current trade price of the CRO token is $0.05231 & this trade price is 8.43% low than the last 7 hours’ trade price.
Read also: Many crypto projects grab popularity on behalf of fake partnerships with Binance
Glow Token founder sues CryptoCom exchange
https://bitcoinik.com/glow-token-founder-sues-cryptocom-exchange/feed/
https://bitcoinik.com/glow-token-founder-sues-cryptocom-exchange/feed/
