Investor Sues Esports Gambling Startup Unikrn

August 23, 2018

Esports gambling startup Unikrn is being sued by one of its investors, according to a report from ESPN, which states the complainant filed suit “against Unikrn, a Bermuda-registered subsidiary of the company and its founders.”

The story said, “Seattle-based esports gambling startup Unikrn, which is backed by the likes of Dallas Mavericks owner Mark Cuban and Ashton Kutcher, is being sued by one of its investors.

“In September, Unikrn launched UnikoinGold, a cryptocurrency that was backed by and runs off of the Ethereum blockchain network. UnikoinGold is marketed as a method of currency to be used on the Unikrn gambling platform, which allows users to bet on esports titles such as League of Legends, Dota 2, Counter-Strike: Global Offensive and more.

“During that September offering, Las Vegas resident John Hastings purchased UnikoinGold tokens with 10 Ethereum, worth approximately $2,800 at that time.

“Hastings filed suit Monday in King County, Washington, against Unikrn, a Bermuda-registered subsidiary of the company and its founders, former Microsoft Ventures general manager Rahul Sood and Karl Flores. In the suit, Hastings is seeking class-action status for all purchases of UnikoinGold.

In a statement to GeekWire, Sood acknowledged the lawsuit and said Unikrn has retained Seattle-based law firm Perkins Coie to “vigorously defend” the company.

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