Crypto Buyer Says He Was Tricked Into Buying Securities

By Elise Hansen (August 2, 2022, 9:02 p.m. EDT) – A cryptocurrency buyer has sued a consulting firm and its backers in Nevada federal court, claiming he was misled into investing in various cryptocurrencies that are actually securities and have not been doing financially as promised.

Brent Jay on Monday sued Distributed Network Advisors LLC, called DNA, and several of its alleged executives, claiming they misrepresented the legal status and financial promise of cryptocurrency tokens. DNA was a blockchain and cryptocurrency consulting firm that advertised its ability to help startups raise funds and structure their initial coin offerings.

Jay said he was convinced to buy “Wax” tokens associated with the WAX ​​blockchain -…

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