The American mining company Layer1 was convicted of investors’ deception

The Layer1 Texas mining company has misleading investors regarding the amount of investments and the composition of the founders team, according to the Twitter engineer of the BTCKING555 industry Криптогаманець: .

The company ran into its leadership the founder of Canaan Creative Liu Xianf. Chinese entrepreneur denied this information.

CTO Layer1 Ivan Kirillova presented the company as a former leading engineer Genesis Mining.

“Ivan was an external contractor and never worked in Genesis,” said CEO of Marco Streng.

In October last year, the media, with reference to the presentation for investors, reported that Layer1 attracted $ 50 million in the funding round with the participation of PayPal co -founder Peter Tilya and the Winklvossov brothers.

According to BNKTOTHEFUTURE, the company received a total of $ 41.39 million investments. In December 2018, in the framework of the sowing round, Layer1 attracted $ 2.1 million.

“Layer1 has never officially announced financing, but we know that there is an annoying misconception of how much we collected,” said CEO of the company Alexander Ligl.

According to experts, if any investors rely when making a decision to mislead the presentation, this may become the basis for the trial.

“Distortion of facts is a distortion of facts. If the investor relied on this and incurred losses, he can probably file a lawsuit, ”said David Silver, founder of the Law Miller Law Firm.

Earlier, Layer1 concluded a “demand response” contract with electricity provider in Texas. The company pledged to disconnect mining equipment during the peak load, releasing 100 MW of capacity for periods of peak load. The total amount of the agreement is estimated at $ 17 million per year.

Lancium, which is specializing in energy consumption, is the copyright holder of the technology, accused Layer1 of violating patent law due to the adopted model.

Subscribe to FORKLOG news in Telegram: Forklog Feed – the whole news feed, FORKLOG – the most important news and polls.