Bitcoin Mining ICO Giga Watt Is Being Sued For Securities Fraud

Another month, another ICO lawsuit. This time it’s Giga Watt in the firing line, a startup whose aim is to launch a cryptocurrency mining facility. The company describes itself as “the world’s first full-service mining solution provider” and promises “turnkey mining services”. A group of investors are not impressed though, and have filed a lawsuit over project delays that they claim are costing them serious money.

The plaintiffs claim to have contributed around $20 million in cryptocurrency to the Giga Watt ICO last summer. That cryptocurrency is now worth five times as much, but investors have nothing to show for it: no crypto, no Giga Watt tokens, and none of the mining equipment that was meant to be supplied.


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