Texas court issues default judgment against Bancor DAO after it ignores subpoena
federal judge in Texas issued a default judgment against Bancor DAO (the decentralized financial platform Bancor) after failing to respond to an online subpoena. Judge Robert Pitman issued the judgment after Bancor DAO failed to appear to defend itself following a subpoena posted on the DAO forum in January 2024.
"Court clerk Phillip Delvin wrote on March 13th: "Defendant Bancor DAO failed to respond within the allowed time or otherwise defend itself, as the plaintiff has proven. The collective lawsuit involves investors claiming they lost tens of millions of dollars due to the exchange's failure to warn about liquidity issues during the peak withdrawal period in 2022.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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