According to the Complaint, the Bibox exchange was launched in November 2017. Within a few months, it had a market capitalization of approximately $215 million. Bibox facilitates trades in digital assets, including the Tokens, by providing a marketplace and facilities for bringing together buyers and sellers of securities, in exchange for Bibox taking a fee for every transaction it facilitates.

On behalf of a class of investors who purchased six digital tokens that Bibox has sold through its online exchange or its ICO since approximately October 2017 (the “Class”), without registering under applicable federal and state securities laws as an exchange or broker-dealer, and without a registration statement in effect for the securities it was selling, Plaintiff and members of the Class seek to recover the consideration paid for the tokens and the fees they paid to Bibox in connection with purchases of BIX, EOS, TRX, OMG, LEND, and ELF (together, the “Tokens”).

On July 2, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 28. Defendants filed a Motion to Dismiss the amended Complaint on December 9. On April 16, 2021, the Court issued an Order granting Defendants' Motion to Dismiss and dismissed the case with prejudice.