A New York law firm has just filed a class action lawsuit against Strategy, a cryptocurrency asset management platform. The core accusation is: "You deceived investors!" The specific charges include:
Concealing the true risks of Bitcoin investment (such as leverage ratio, counterparty exposure)
Falsifying historical returns (taking bull market data as the norm)
Misappropriating user assets to invest in high-risk products (similar to how BlockFi brought itself down)
My bloodthirsty opinion:
This is by no means an ordinary dispute, but a joint hunt by short-selling forces and lawyers! You can see the three steps of the killer move:
Short first, then sue: Institutions have already laid short positions before the lawsuit (refer to the halving of the coin price before the LUNA class action lawsuit);
The crisis of forcing the platform to repay: the amount of claims often far exceeds the reserves (for example, Celsius was sued for 23 billion, but its actual assets were insufficient to cover its debts);
Harvesting user claims at low prices: Purchasing user claims at 30% off during a panic (Voyager victims have experienced this well).
Blood and tears case:
In 2023, Genesis was sued for “fraudulent promotion of GBTC arbitrage”. Within 24 hours of the announcement of the lawsuit:
• GBTC negative premium plummeted from 35% to 52%
• Retail investors’ sell-off triggered on-chain liquidation of $210 million
• The law firm distributed $8 million in dividends from short-selling profits—your tears, their dividends!
Self-examination of retail investor death trap:
If two of the following three conditions appear on the platform, run!
A sudden jump in yield (e.g. from 8% to 15%, which must be a risk leverage)
Withdrawal delay exceeds 12 hours (Strategy users complained last month)
Executives resigned intensively (CTO resigned last week without announcement)
The Ultimate Survival Guide:
Check the exposed address immediately: Use Arkham to track the Strategy multi-signature wallet (starting with 0x8731) to see if the assets are transferred;
Withdrawal stress test: small amount of withdrawals are made every week to verify liquidity;
Recording to preserve evidence: All conversations in which the customer service staff promises “guaranteed principal and guaranteed returns” are recorded.
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