Two Moscowitz and Boies Schiller Flexner law firms have filed a class action lawsuit against Binance, the company's CEO and three promoters. The company is accused of illegally selling securities and its representatives of advertising the platform's services.
The plaintiffs are seeking compensation totaling $1 billion. So far, only three customers have gone to court, but the papers say that every Binance user can claim legal protection in this case.
