Market Manipulation Claims Surface
The lawsuit also points to alleged market manipulation involving Gotbit Ltd., which plaintiffs say used bots and wash trading to artificially influence trading activity. Gotbit, according to the complaint, was later convicted of wire fraud and market manipulation.
The plaintiffs argue the scope of the alleged misconduct justifies $100 million in compensatory and punitive damages, citing what they describe as a fraud of extraordinary scale.
Parallel Lawsuits Add Pressure
Tuesday’s filing comes just two weeks after Cerebellum Networks co-founder Ken Wang filed a related lawsuit in Delaware’s Court of Chancery, accusing the same defendants of systematically diverting approximately $58 million in Cere token assets.
Wang’s suit names Jin, his wife Maren Schwarzer, his brother Xin Jin, Cere’s chief marketing officer Martijn Broersma, Lime co-founder Brad Bao, and director Francois Granade — all of whom also appear in Goopal’s complaint.
Wang alleged that $41.78 million in token transfers were secretly lined up immediately following the November 2021 ICO, contradicting repeated public assurances that insider tokens were locked.
