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Sphere 3D, a bitcoin mining company (ANY), has filed a lawsuit against its partner Gryphon Digital Mining, accusing them of neglecting the best interests of their business partnership and losing $500,000 worth of bitcoin in a spoofing attack.
A complaint was lodged on Friday with the Southern District of New York, claiming that Gryphon Digital Mining's CEO, Rob Chang, transferred 18 bitcoin owned by Sphere 3D to a fraudulent address impersonating the company's CFO in January. The lawsuit alleges that an additional eight bitcoin were also wired to the same address a few days later. The lawsuit further alleges that Gryphon provided inadequate services to its partner and misrepresented Sphere 3D's computing power as its own in public disclosures, which are deemed "abhorrent."
As per the lawsuit, Sphere 3D's representatives have stated that they are seeking damages "in excess of $75,000, exclusive of interest and costs."
According to Sphere 3D CEO Patricia Trompeter, the lawsuit against Gryphon is not only aimed at safeguarding their own interests, but also to champion greater corporate ethics and accountability in the cryptocurrency industry.
"Today’s filing demonstrates that we will not only protect the company that we all have worked so hard to navigate through the past year, but also that we will not be bullied or threatened by the likes of Gryphon," Trompeter said in a statement.
As of now, Gryphon's executives have not issued any public response to the lawsuit, and the company's representatives were not immediately available for comment.
Source Coindesk
