An investor filed a lawsuit against up to 12,000 accused for alleged illegal activities such as cryptocurrency fraud

According to The Block, on August 28, a plaintiff named Douglas Ferrie filed a lawsuit in Washington State, with 12,000 defendants. The plaintiff claimed that it followed the defendant's account settings using the ETH investment "ARB token", and the defendant said that the use of arbitrage robots would double the investment every two months. On November 30, 2018, two people from Woodford Research, controlled by the defendant, delivered a speech online that described "new investment opportunities involving arbitrage cryptocurrencies." The plaintiff then invested $166,000 in pensions, health savings accounts (HSA) and personal funds with the defendant, but the defendant's website was difficult to use, charged a lot of money and the investment did not benefit. The plaintiff accused the defendant of illegal activities such as securities fraud, breach of contract, fraudulent misrepresentation and so on.