Blockchain Startup Stox and Founder Sued for $4.6 Million Over Alleged Fraud

A Chinese investor has sued a prominent Israeli crypto entrepreneur and his blockchain firm Stox (STX) over alleged fraud, English-language newspaper The Times of Israel reports Jan. 25.

The investor, Zhewen Hu, is suing Stox and its founder for $4.6 million, according to the report. Hu allegedly invested a total of around $3.8 million worth of Ethereum (ETH) in the blockchain firm — an open source, Ethereum-based prediction market platform dubbed Stox, founded by Moshe Hogeg.

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