The judge ordered that SpartacusDAO’s NFTs be frozen.
A court decision came about the NFT series that SpartacusDAO released on Discord. The project leader’s access to user funds was restricted during the court process.
Judge Announces His Verdict on NFT Series
The leader of SpartacusDAO has been banned from touching $35 million in investor funds until court proceedings begin.
A federal judge has ordered a freeze of $35 million in crypto assets held by SpartacusDAO, a crypto investment project whose leader, the SPA token, has been sued by investors.
Judge Victor Marrero upheld the US restraining order against Wei Wu, who is alleged to be the man behind Spartacus, at the hearing in the Southern District Court of New York. Diogenes Casares, CEO of the investment company that sued Wu, said the order would remain in effect until the absent Wu began working with the court, Marrero said.
The court ruling marks the final chapter of a multimillion-dollar battle over the future of SpartacusDAO and SPA tokens.
Unsatisfied with the progress of the crypto return project, SPA investors held a vote last year to dissolve the decentralized autonomous organization and return its value to token holders. However, Spartacus ignored their illegal transactions and the voting did not take place on the platform.
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