Ex-Employee Sues Zcash Operator in $2 Million Lawsuit Over Unpaid Stocks

The company behind cryptocurrency zcash (ZEC) is facing a $2 million legal challenge over unpaid shares, documents originally filed on May 29 confirm. Simon Liu worked for Zerocoin, now known as the Electric Coin Company, and additionally claims the company was not legally permitted to offer the equity”. Plaintiff is informed and believes, and thereon alleges, that Zerocoin did not have the authorization to issue common stock to employees in 2016, and that Defendants, and each of them, were aware that Zerocoin did not have such an authorization,” the document reads.A dedicated ASIC mining device for Zcash and other Equishash coins, developed by cryptocurrency  mining  giant  Bitmain,  appeared in March this year.In April in a separate case, a former employee of crypto exchange Kraken has also sued the exchange for $900,000, claiming a failure to receive a reportedly promised commission and stock options.

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