A French citizen accuses Modern Assets of failing to carry out the necessary checks before linking him to a merchant who stole fiat money and cryptocurrency from him.
French citizen Alexandre Raffin has filed a compensation claim against Australian cryptocurrency company Modern Assets for alleged breach of its obligations to customers. The lawsuit was filed in Federal Court and represents the first such trial in Australia.
Ruffin claims that Modern Assets and its directors Jonathan Allison and Carlo Sciubba have defaulted on their obligations to him as an intermediary in exchanging fiat money for the crypto asset Klaytn. According to the lawsuit, Modern Assets was supposed to provide Ruffin with the crypto asset, but when the deal fell through, the company linked Ruffin directly with the seller.
Under the terms of the deal, the seller was required to provide 937,500 KLAY worth approximately A $ 93,000. However, the seller fled with Ruffin’s money. Since then, the price of the cryptocurrency has grown 30 times, and if Ruffin received it on time, now its value would be about 3.7 million Australian dollars.
The French citizen accuses Modern Assets of failing to carry out the necessary checks before linking him to the seller. Ruffin is demanding compensation for the loss of money, as well as $ 800,000 – the value of cryptoassets as of August last year. At the moment, the issue is pending a decision in the Federal Court of Australia.
Recall that in February this year, Deputy Governor of the Central Bank of Australia for Financial Systems Michelle Bullock said that there is “a lot of noise” around bitcoin, but it is not dangerous.
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