Former CFO Dropped From Lawsuit Against Crypto Company Stox, Moshe Hogeg
A January lawsuit filed in Tel Aviv alleges that blockchain entrepreneur Moshe Hogeg, through crypto company Stox, took money received from an ICO for himself and for other companies he was involved with
For daily updates, subscribe to our newsletter by clicking here.In January, Chinese citizen Zhewen Hu filed a NIS 17 million lawsuit through a representative in Tel Aviv district court, alleging that Hogeg took money received from the buyers of crypto-coin Stox for himself and for other companies he was involved with. Hogeg denied the accusations. The January filing also named Shalem as a defendant. On Wednesday, Hu notified the court that he is withdrawing the suit against Shalem as he had been convinced Shalem bore no responsibility for the damages outlined in the suit. On Thursday, the court approved Hu’s request.
Earlier this month, Coindesk’s Leigh Cuen enlisted the help of blockchain analytics firm Alethio to dive into Hogeg’s various initial coin offerings. Besides Stox, Hogeg was also involved in the ICOs of blockchain-based decentralized lead-sharing network LeadCoin, and of cryptocurrency smartphone company Sirin Labs. Both tokens have been hit hard by the downturn in cryptocurrency.