Bibox Operator Accuses Early Employee of Illegal Takeover of its Venture

A management platform that was recently developed at the Bibox Exchange found itself in the middle of a fierce dispute. According to Bloomberg, the operator of Bibox and its co-founder Wanlin Wang claim that Wei (Estella) Liu, a Chinese national who resides in New York, named herself as the only shareholder of the company behind the venture in order to defraud the entity of more than $3 million.

However, Liu’s lawyer, Timothy Pastore of Duval & Stachenfeld, denies the accusations, saying that Liu has control over the venture in accordance with the law.

Bibox Group Holdings was founded last year with a legal address in the British Virgin Islands and its actual headquarters in New York. It markets itself as the first digital asset exchange operators to leverage artificial intelligence (AI). Today, Bibox claims to manage daily trading volumes that exceed $200 million.

In December of last year, Wang hired Liu to manage the launch of Investre Network, a new venture that represents a cryptocurrency management platform. Wang says he is the one who created the venture from scratch. After hiring Liu, he required her to form two corporate entities – Save Technology, the firm behind Investre Network, and Bibox Te…

This article appeared first on Cryptovest

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