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Token Creator Files Lawsuit Against Crypto.com for Negligence, Alleges Hospitalization Due to Stress
“The pressure from these incidents has resulted in considerable stomach problems, leading to four hospital visits,” Lawrence asserts. Bryan Lawrence, the creator of Glow Token, announced on X (formerly Twitter) on August 18 that he has initiated legal proceedings against Forix Dax, the parent organization of the well-known cryptocurrency platform crypto.com. He attributes negligence as the primary factor.
He contends that either a staff member or an external party accessed the firm’s internal communications to exploit the “insufficient security measures” and misappropriate funds allocated for the launch of Glow’s new token, FLARE.
Although he claims to have conducted thorough due diligence during the listing process by directly verifying each step with Crypto.com and reviewing the listing agreement, he later realized that he had never interacted with any official representatives at all.
He states that on March 16, he received a message indicating that he had fallen victim to a scam. The exchange allegedly suspended his account when he reached out to confirm chat logs to validate the authenticity of his conversation. He reportedly received a cease and desist notice shortly thereafter.
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Lawrence asserts that the situation has led to both financial and health-related issues.
“I had to part with my cherished home.” This was a difficult choice as my house held great significance for me.”
Lawrence is reportedly undergoing treatment for ongoing stomach issues that he believes are a direct consequence of the situation. “I am currently consulting with specialists in hopes of finding a resolution to my health concerns.”
This follows earlier claims that Crypto.com’s use of internal traders could lead to a regulatory alert. According to reports published on June 19, Crypto.com allegedly employs internal teams for market making and proprietary trading. However, the exchange’s use of internal traders has not been publicly acknowledged.
Management at Crypto.com reportedly categorically denies the company’s involvement in trading activities. Additionally, employees were allegedly instructed to assert that no internal market-making operations were taking place.
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