{"id":736,"date":"2017-07-06T00:00:00","date_gmt":"2017-07-06T04:00:00","guid":{"rendered":"https:\/\/www.silvermillerlaw.com\/media-coverage\/the-case-against-kraken\/"},"modified":"2023-06-14T12:03:31","modified_gmt":"2023-06-14T12:03:31","slug":"the-case-against-kraken-2","status":"publish","type":"news_posts","link":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/the-case-against-kraken-2\/","title":{"rendered":"The Case Against Kraken"},"content":{"rendered":"<p><strong> David Silver Quote : <\/strong><\/p>\n<blockquote><p>\n<strong>Kraken had the obligation, ability, and opportunity to protect customers and chose not to.&#8221;<\/strong>\n<\/p><\/blockquote>\n<p>Filed on July 5, 2017, a class action complaint against the Kraken\u00a0<abbr class=\"glossarizer_replaced\" style=\"box-sizing: border-box; border-bottom: 1px dotted #956dc1; text-decoration: none !important; position: relative; cursor: help;\" title=\"A digital store of monetary value the primary use of which is for buying and selling goods, services, or property, such as Ether or bitcoin. Cryptocurrencies are cryptographically secured against counterfeit and often are not issued or controlled by any centralized authority.\">cryptocurrency<\/abbr> <abbr class=\"glossarizer_replaced\" style=\"box-sizing: border-box; border-bottom: 1px dotted #956dc1; text-decoration: none !important; position: relative; cursor: help;\" title=\" online marketplace which facilitates the exchange of crypto or fiat currencies based on the market exchange rate. For more info visit our  section on Exchanges\">exchange<\/abbr>\u00a0alleges that the trading hub is responsible for losses suffered by\u00a0<abbr class=\"glossarizer_replaced\" style=\"box-sizing: border-box; border-bottom: 1px dotted #956dc1; text-decoration: none !important; position: relative; cursor: help;\" title=\"An account is the entry in a ledger, indexed by its address that contains the complete data about the state of that account. In a currency system, this involves currency balances and perhaps unfulfilled trade orders; in other cases, more complex relationships may be stored inside of those accounts.\">account<\/abbr>\u00a0owners due to its wrongful acts.<\/p>\n<p>Attorney David C. Silver of the Silver Law Group, is counsel for the plaintiffs and the proposed class, who saw their trading positions liquidated by Kraken during an alleged simultaneous\u00a0<abbr class=\"glossarizer_replaced\" title=\"A distributed denial-of-service (DDoS) attack occurs when multiple systems flood the bandwidth or resources of a targeted system, usually one or more web servers. Such an attack is often the result of multiple compromised systems (for example, a botnet) flooding the targeted system with traffic.\">distributed denial of service<\/abbr>\u00a0(<abbr class=\"glossarizer_replaced\" title=\"A distributed denial-of-service (DDoS) attack occurs when multiple systems flood the bandwidth or resources of a targeted system, usually one or more web servers. Such an attack is often the result of multiple compromised systems (for example, a botnet) flooding the targeted system with traffic.\">DDoS<\/abbr>)\u00a0<a href=\"https:\/\/www.ethnews.com\/kraken-users-margin-positions-liquidated-as-ddos-hits-amid-selloff\" target=\"_blank\" rel=\"noopener\">attack<\/a>\u00a0and flash crash that took place on May 7. The five plaintiffs are claiming a combined loss of 3,414.08669\u00a0<abbr class=\"glossarizer_replaced\" style=\"box-sizing: border-box; border-bottom: 1px dotted #956dc1; text-decoration: none !important; position: relative; cursor: help;\" title=\"The primary internal cryptographic token of the Ethereum network. Ether is used to pay transaction and computation fees for executing distributed code contracts (EDCCs or smart contracts). For more info visit our  section on What Is Ether? ETH is the currency code for Ether.\">Ether<\/abbr>, which they estimate to have been worth $328,844.83 on the day of the attack. At time of press, this amount of Ether would be worth nearly $900,000.<\/p>\n<p><a href=\"https:\/\/www.ethnews.com\/the-case-against-kraken\" target=\"_blank\" rel=\"noopener\">Read the rest of the article.<\/a><\/p>\n","protected":false},"featured_media":1828,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news_categories":[],"class_list":["post-736","news_posts","type-news_posts","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Case Against Kraken - 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\/the-case-against-kraken-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Case Against Kraken - SilverMillerLaw.com\" \/>\n<meta property=\"og:description\" content=\"David Silver Quote : Kraken had the obligation, ability, and opportunity to protect customers and chose not to.&#8221; Filed on July 5, 2017, a class action complaint against the Kraken\u00a0cryptocurrency exchange\u00a0alleges that the trading hub is responsible for losses suffered by\u00a0account\u00a0owners due to its wrongful acts. 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Attorney David C. Silver of the Silver Law Group,","og_url":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/the-case-against-kraken-2\/","og_site_name":"SilverMillerLaw.com","article_publisher":"https:\/\/www.facebook.com\/silvermillerlaw\/","article_modified_time":"2023-06-14T12:03:31+00:00","og_image":[{"width":896,"height":597,"url":"https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/04\/EthNews.webp","type":"image\/webp"}],"twitter_card":"summary_large_image","twitter_site":"@dcsilver","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/the-case-against-kraken-2\/","url":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/the-case-against-kraken-2\/","name":"The Case Against Kraken - SilverMillerLaw.com","isPartOf":{"@id":"https:\/\/www.silvermillerlaw.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/the-case-against-kraken-2\/#primaryimage"},"image":{"@id":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/the-case-against-kraken-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/04\/EthNews.webp","datePublished":"2017-07-06T04:00:00+00:00","dateModified":"2023-06-14T12:03:31+00:00","breadcrumb":{"@id":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/the-case-against-kraken-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/the-case-against-kraken-2\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/the-case-against-kraken-2\/#primaryimage","url":"https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/04\/EthNews.webp","contentUrl":"https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/04\/EthNews.webp","width":896,"height":597,"caption":"EthNews"},{"@type":"BreadcrumbList","@id":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/the-case-against-kraken-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.silvermillerlaw.com\/"},{"@type":"ListItem","position":2,"name":"The Case Against Kraken"}]},{"@type":"WebSite","@id":"https:\/\/www.silvermillerlaw.com\/#website","url":"https:\/\/www.silvermillerlaw.com\/","name":"SilverMillerLaw.com","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.silvermillerlaw.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.silvermillerlaw.com\/wp-json\/wp\/v2\/news_posts\/736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.silvermillerlaw.com\/wp-json\/wp\/v2\/news_posts"}],"about":[{"href":"https:\/\/www.silvermillerlaw.com\/wp-json\/wp\/v2\/types\/news_posts"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.silvermillerlaw.com\/wp-json\/wp\/v2\/media\/1828"}],"wp:attachment":[{"href":"https:\/\/www.silvermillerlaw.com\/wp-json\/wp\/v2\/media?parent=736"}],"wp:term":[{"taxonomy":"news_categories","embeddable":true,"href":"https:\/\/www.silvermillerlaw.com\/wp-json\/wp\/v2\/news_categories?post=736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}