Sat, May 18, 2024

Massive Adoption Crypto Conference and Class-Action Lawsuit

Wirex and its new card

There are many cryptocurrencies around the globe. Moreover, crypto-related events such as conferences, presentations are quite common as crypto step-by-step became part of the modern world. However, people should be careful when it comes to purchasing the tickets of any event, and the crypto conference is not an exception.

On May 7, securities fraud and investment loss attorney David Silver has filed a class-action lawsuit. He filed this lawsuit on behalf of attendees against the organizer of the canceled Massive Adoption crypto conference.

According to the initial complaint filed on Thursday, Ashley Gentry is the lead plaintiff in a 2,000-person lawsuit against Jacob Kostecki. Importantly, Kostecki is the creator of “Massive Adoption in Memphis: Blockchain and Digital Assets”.

Interestingly, the crypto conference was supposed to be held in February 2020. However, the organizer canceled this conference on January 31.

Crypto conference and legal problems

Crypto industry and legal aspects

It is important to note that, according to the lawsuit the organizer of this conference promised to refund tickets and packages form the conference in six months.

Attorney David Silver stated that Kostecki caused significant financial loss. Moreover, he failed to carry out his promises. Notably, the filing demands compensation for damages due to lost airfares as well as attorney fees, and other applicable cost and interest.

People should take into account, that it was not the first problem regarding this festival. Initially, the festival was scheduled for November 2019, but then the date changed to February 27-28, 2020.

According to the information, 2,000 people wanted to attend the festival. Moreover, the total number of speakers was also quite impressive. The organizer of this Massive Adoption crypto conference sold tickets and airfare packages months before the event.

Nevertheless, Kostecki unexpectedly canceled this conference. He commented on this topic through his Twitter account. Kostecki admitted that he owes repayments to many people. However, attorney Silver thinks that promises made on Twitter are not enough to solve this issue.

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