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Crypto Exchange Sues Former Employee Over Seizure of Platform

  • Bibox co-founder Wang accuses ex-worker of extortion attempt
  • Chinese national claims ownership of Investre Network

A newly created management platform at the 10th-biggest global cryptocurrency exchange has become the focus of a fight over who owns the potentially lucrative venture in a booming industry.

The operator of the Bibox Exchange and its co-founder Wanlin Wang sued Wei Liu, a Chinese citizen who lives in Manhattan, claiming she covertly named herself as the sole shareholder of the entity that owns the venture in an attempt to embezzle more than $3 million.