Mining Appliances for Siacoin and Decred Cryptocurrencies
November 2018: A class-action lawsuit was filed against Obelisk, Inc. and Nebulous, Inc. for allegedly misleadingly advertising preorders for mining appliances tailored to mine the Siacoin and Decred cryptocurrencies. The complaint claims that the companies:
- Misleadingly represented that the mining appliances would meet certain specifications when, according to the complaint, they did not meet the advertised specifications;
- Promised to deliver the mining appliances by a specific date when, according to the plaintiffs, they were not delivered by the specified date; and
- Promised to provide purchasers with a full refund if the mining appliances did not meet the advertised specifications or were not delivered by the promised date when, according to the complaint, the companies refused to provide refunds.
The complaint also alleges that the companies did not register the preorders with the SEC or any state regulatory agency, in violation of state security laws. (Roberts et al v. Obelisk, Inc., Nebulous, Inc. et al, Case No. 37-2018-00058465, California State Court – San Diego)