Bitcoin mining firm Sphere 3D sues partner Gryphon Digital Mining for losing $500k in fraudSphere 3D, a bitcoin mining firm, has filed a lawsuit against its partner Gryphon Digital Mining, alleging that the latter lost $500,000 worth of Sphere 3D’s bitcoin in a spoofing attack and failed to act in the best interest of the partnership. The complaint was filed on Friday with the Southern District of New York.
According to the lawsuit, Gryphon’s CEO Rob Chang wired 18 of Sphere 3D’s bitcoin to an address belonging to a fraudster who impersonated Sphere 3D’s chief financial officer in January. A few days later, another eight bitcoin were sent to the same address. The lawsuit also alleges that Gryphon provided subpar services to Sphere 3D and misrepresented the latter’s computing power as its own in public disclosures.
Sphere 3D is seeking damages “over $75,000, exclusive of interest and costs.” CEO Patricia Trompeter stated that the lawsuit aims not only to protect the company’s interests but also to promote greater corporate integrity within the cryptocurrency industry. She added that the filing demonstrates that Sphere 3D will not be bullied or threatened by Gryphon.
Gryphon has not yet responded to the lawsuit, and its representatives were not immediately available for comment.
Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
