New York pursues $1.3 billion claim against NovaTech founders who fled the US after the platform received $1.16 billion in crypto deposits.
Regulation & Gov ·
New York is pursuing over $1.3 billion in claims against the founders of NovaTech, a crypto platform whose operators have fled the United States. The state alleges the platform accumulated $1.16 billion in crypto deposits while routing at least $134.5 million in withdrawals to wallets controlled by its founders.
The legal action reflects New York's effort to recover funds tied to the platform's operations and the apparent movement of assets by the founders prior to their departure. The specific mechanisms by which the state arrived at the $1.3 billion figure and the full scope of its claims remain to be detailed in official filings.
It is unclear whether the founders remain outside U.S. jurisdiction, what additional assets may be traced to them, or how enforcement of any judgment might proceed given their flight status.