April 6, 2020 Multiple class-action lawsuits have been filed against several major blockchain companies.

A range of class-action lawsuits were filed against multiple blockchain and cryptoasset companies in New York on Friday. There were reportedly at least 10 suits filed in the Southern District of New York, with defendants including Binance, HDR Global Trading (operators of BitMEX), Block.One, Tron, Kyber Network, Civic, and Status while individual cases were filed against Kucoin, Bibox, and Quantstamp. Broadly speaking, the cases are based on accusations that said projects engaged in unregistered security offerings via token sales. Many of the suits drew comparisons to the SEC’s case against Block.One in which the financial regulator succeeded in making the company pay $24 million in penalties in September 2019.