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NEW: DWF Labs affiliates are seeking $141 million in damages from BitGo, alleging it sold Falcon Finance and ESPORTS tokens before contractual lock-ups expired, the FT reported. The agreements included an initial three-month lock-up followed by additional vesting periods, according to the lawsuit.
FT: DWF Labs Sues BitGo for $141 Million Over Alleged Early Sales of Locked Tokens According to the Financial Times, DWF Labs affiliates DWF Maas and Falcon Digital have sued crypto custodian BitGo in London's High Court, seeking $141 million in damages. The plaintiffs allege that BitGo breached OTC agreements by selling Falcon Finance (FF) and ESPORTS tokens before their agreed lock-up periods expired, putting downward pressure on token prices and reducing the value of DWF's remaining holdings. The agreements included an initial three-month lock-up followed by additional vesting restrictions. BitGo declined to comment on the lawsuit. The allegations have not been proven in court.
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