A trader who spent $ 100 to buy DOGE initiated a $ 5 million litigation against Coinbase.
David Suski filed in federal court in San Francisco
claim to the Coinbase exchange… He stated that he was tricked into spending $ 100 to participate in the “Trade Doge, Win Doge” lottery. The statement of claim indicated that participation in the lottery could be free, but Coinbase did not knowingly disclose this fact in order to obtain financial benefits.
The plaintiff’s lawyer claims that the Coinbase ad campaign misled the participants. The right to participate free of charge was not disclosed in advance, but was mentioned in a separate section “Rules and Details”.
“The only reason Claimant made a commitment to buy DOGE from Coinbase was because the advertising campaign convinced him that it was necessary to participate in the Coinbase $ 1.2 million lottery.”
He added that the “misleading ad campaign” cost Coinbase traders millions of dollars in DOGE purchases and commissions.
The Dogecoin Sweepstakes Contest was designed to stimulate DOGE trading in the early days after it was listed on Coinbase Pro and included prizes in the form of DOGE. In promotions, Coinbase asked users to complete transactions of at least $ 100.