{"id":1467,"date":"2018-11-21T16:47:41","date_gmt":"2018-11-21T16:47:41","guid":{"rendered":"https:\/\/www.silvermillerlaw.com\/?p=1467"},"modified":"2024-10-30T19:44:41","modified_gmt":"2024-10-30T19:44:41","slug":"stop-stealing-money-crypto-lawyer-goes-villain-vindicated","status":"publish","type":"news_posts","link":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/stop-stealing-money-crypto-lawyer-goes-villain-vindicated\/","title":{"rendered":"&#8216;Stop Stealing Money&#8217;: Crypto Lawyer (David Silver) Goes From Villain to Vindicated"},"content":{"rendered":"<p><a href=\"https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/11\/Fortune1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-1469 alignleft\" src=\"https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/11\/Fortune1-300x240.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/11\/Fortune1-300x240.jpg 300w, https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/11\/Fortune1-1024x820.jpg 1024w, https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/11\/Fortune1-768x615.jpg 768w, https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/11\/Fortune1-1536x1230.jpg 1536w, https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/11\/Fortune1.jpg 1800w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>David Silver, a heavy-set bulldog of a lawyer, used to get booed off stage at Bitcoin conferences when he warned that many cryptocurrency projects were illegal. Today, he says he receives standing ovations.<\/p>\n<p>\u201cI started off with everyone calling me \u2018Better Call Saul\u2019 and \u2018the ambulance chaser of crypto.\u2019 I wore that like a badge of honor,\u201d says Silver, who has built a roaring\u00a0<a href=\"https:\/\/www.silvermillerlaw.com\/practice-areas\/digital-investments-cryptocurrency\/\" target=\"_blank\" rel=\"noopener noreferrer\">practice<\/a>\u00a0representing those who lost money in the crypto craze.<\/p>\n<p>Silver\u2019s moment of vindication coincides with the Securities and Exchange Commission decision to unleash a wave of enforcement actions targeting the cryptocurrency sector. This includes SEC claims against outright scam artists, but also against the operators of so-called \u201c<a href=\"https:\/\/fortune.com\/crypto\/2018\/11\/16\/sec-airfox\/\">Initial Coin Offerings<\/a>\u201d (ICOs), which sold digital tokens to the public without registering them as securities.<\/p>\n<p>In an interview with\u00a0<em>Fortune<\/em>, Silver predicted that the SEC is just getting warmed up and that the agency will target more ICOs as well as cryptocurrency exchanges where people bought and sold tokens\u2014tokens that in retrospect appear to be unregistered securities.<\/p>\n<p>Silver claims that it was evident all along that many cryptocurrency businesses were operating outside the law, but that the hype over crypto drowned out those who called them out.<\/p>\n<p>\u201cAt the end of day, I consider myself an investment fraud lawyer. I don\u2019t care how people lose money\u2014crypto happens to be the crime du jour. It\u2019s not that complicated; I just say stop stealing money,\u201d he said.<\/p>\n<p>His law firm, Silver Miller, has so far won two judgments worth more than $10 million, and is still pursuing claims against notorious scam shops like BitConnect, as well as against more mainstream outfits like Kraken. He argues that such firms are now eager to cooperate with regulators, but that in the earlier days of crypto, their executives turned a blind eye to bad actors. Kraken declined to comment.<\/p>\n<p>Silver, who started out with the white-shoe law firm Patton Boggs, has also earned the respect of others in the legal niche of cryptocurrency.<\/p>\n<p>\u201cSpeaking as someone who used to run a blockchain tech company and is currently a practicing lawyer, David is highly literate in the crypto space, a lot of fun to hang out with, and generally I have a lot of time for him,\u201d says Preston Byrne, an attorney whose crypto comments have earned him a large following\u00a0<a href=\"https:\/\/twitter.com\/prestonjbyrne\" target=\"_blank\" rel=\"noopener noreferrer\">on Twitter<\/a>.<\/p>\n<p>While Silver has racked up numerous victories in court against cryptocurrency companies, this doesn\u2019t always translate into money for the plaintiffs since many defendants are overseas.<\/p>\n<p>\u201cEach case is different. I have a pile of default judgments. The liability is a slam dunk. Collectability is a bit of a different story,\u201d he acknowledges.<\/p>\n<p>Meanwhile, Silver recently decided to take on the big phone companies on behalf of clients who lost cryptocurrency in \u201cphone porting\u201d scams. These are cases where scammers rely on deception or a corrupt agent inside the phone company in order to transfer the victim\u2019s number to a new SIM card\u2014this can allow the scammer to defeat two-factor authentication and steal the victim\u2019s cryptocurrency.<\/p>\n<p>While such cases would normally be the form of a class-action lawsuit, the phone companies and others can invoke forced arbitration clauses, forcing plaintiffs to sue one by one. Silver says he\u2019s not dissuaded.<\/p>\n<p>\u201cI\u2019m happy to go to arbitration if the person has lost enough money to make it worthwhile. The average case I take on the person has lost half a million to $1 million.\u201d<\/p>\n<p style=\"text-align: center;\">Read the Full Article At:<\/p>\n<p class=\"headline heading-content margin-8-top margin-16-bottom\" style=\"text-align: center;\"><a href=\"https:\/\/fortune.com\/crypto\/2018\/11\/21\/crypto-lawsuits\/\">&#8216;Stop Stealing Money&#8217;: Crypto Lawyer Goes From Villain to Vindicated<\/a><\/p>\n","protected":false},"featured_media":1786,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news_categories":[10],"class_list":["post-1467","news_posts","type-news_posts","status-publish","has-post-thumbnail","hentry","news_categories-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&#039;Stop Stealing Money&#039;: Crypto Lawyer (David Silver) Goes From Villain to Vindicated - SilverMillerLaw.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/stop-stealing-money-crypto-lawyer-goes-villain-vindicated\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;Stop Stealing Money&#039;: Crypto Lawyer (David Silver) Goes From Villain to Vindicated - SilverMillerLaw.com\" \/>\n<meta property=\"og:description\" content=\"David Silver, a heavy-set bulldog of a lawyer, used to get booed off stage at Bitcoin conferences when he warned that many cryptocurrency projects were illegal. 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