Game developer Fracture Labs sues Jump Trading for making millions of dollars by manipulating its token price
On October 17th, video game developer FractureLabs sued cryptocurrency market maker Jump Trading, accusing them of "fraud and deception" by manipulating the prices of tokens used in online games. According to the lawsuit, FractureLabs planned to raise funds in 2021 by issuing DIO tokens on the Huobi HTX exchange. The company stated that it had retained Jump as the market maker for DIO, which is used in its online game Decimated and traded on the cryptocurrency market. As part of the agreement, it loaned 10 million tokens to a subsidiary of Jump, while separately sending 6 million DIO tokens to HTX for sale during the issuance.
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