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Nowak v. Xapo, Inc.; Xapo (Gibraltar) Limited; and Indodax

U.S. Dist. Ct. - Northern District of California - Case No. 5:20-cv-03643-BLF

  • Representing cryptocurrency theft victim in lawsuit against cryptocurrency exchanges that allegedly possess/possessed his stolen property and which aided and abetted that theft through their failures to implement and utilize adequate Know Your Customer and Anti-Money-Laundering (“KYC/AML”) protocols, which was tantamount to inviting, and then turning a blind eye to, fraudulent and criminal activity.
  • Lawsuit pleads claims under California Penal Code § 496 (Possession of Stolen Property), Computer Fraud and Abuse Act [18 U.S.C. § 1030(a)(4)] for aiding and abetting computer fraud, and California Penal Code § 502, et seq. (Assisting Unlawful Access to Computers) based on allegations that each exchange knew that its KYC/AML protocols were inadequate and allowed customers to use its exchange vaults as purported “safe havens” in which to hide stolen assets.

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