Migliaccio & Rathod LLP is currently investigating Stripe Inc. over allegations that it has put consumers at risk by failing to adequately assess risk and prevent, or subsequently mitigate fraud. Specifically, consumers have reported a pattern of unregulated and fraudulent dealings associated with cryptocurrency fraud sanctioned by Stripe’s lack of oversight, causing financial harm to individuals and businesses.
Recently, Stripe settled with consumers in Massachusetts after having allowed fraudulent third party “PlexCoin” to use their platform to trade unregistered cryptocurrency. Investors in this case reported having lost substantial investments through PlexCoin’s scheme which should have been flagged by Stripe. Under the settlement, Stripe will pay $120,000 to resolve allegations by the Massachusetts Attorney General that Stripe violated state consumer protection laws.
Are you an investor in Plexcoin or another cryptocurrency who was defrauded and whose transactions may have been processed by Stripe?
If so, we would like to hear from you. Please fill out our contact form, send us an email at [email protected], or give us a call at (202) 470-3520.
Committed to Consumer Protection
The lawyers at Migliaccio & Rathod LLP have years of experience in class action litigation against large corporations, including in cases involving consumer protection. More information about our current cases and investigations is available on our blog.