Crypto Investment Firm Alleges $16M ‘Rug Pull’ by DeFi Insiders

Hash Asset Management Ltd. sued the founders of the ICHI crypto protocol in Delaware state court for orchestrating what the digital asset investment firm alleged was a pump-and-dump scheme that caused the collapse of a yield-earning cryptocurrency pool, wiping out over $16 million in investor capital.

Daniel A. Griffith, co-chair of the litigation department at Whiteford, Taylor & Preston in Delaware, and George Benaur, of counsel at Belgravia Law in New York, represent the plaintiff, Hash, in its lawsuit against DMA Labs Inc., its officers Bryan Gross and Nick Poore, the ICHI Foundation, its associate Tyler Pinter and its business manager Julian Brand.