Exceptional Media has filed a civil complaint against Chainalysis, accusing them of defamation for falsely labeling the Yieldnodes project as a crypto scam. The complaint alleges that Chainalysis’s defamatory statements have caused reputational and economic losses of over $650 million. The controversy stems from a publication on the Reactor website in 2022, where Yieldnodes was erroneously reported as the second-largest cryptocurrency scam in the world. These false statements have had a significant impact on Exceptional Media, damaging its reputation and leading to devastating economic consequences.
The defendants continued to defame Yieldnodes in a global document titled “The 2023 Crypto Crime Report.” Exceptional Media claims that the defendants acted with deceit and recklessness, prioritizing financial profit over the accuracy of their statements. The repercussions of these false statements extend beyond reputational damage, as cryptocurrency accounts and wallets connected to Yieldnodes and its clients have been frozen.
Exceptional Media emphasizes that it has suffered significant damages to its business and reputation, causing irreparable harm to its commercial relationships. This case raises important questions about the accuracy of information in the crypto world and the responsibilities of companies in spreading influential statements.
The legal controversy involves Exceptional Media and Chainalysis, with Yieldnodes at the center. The authors of the defamatory report include Kim Grauer, Eric Jardine, Erin Leosz, and Henry Updegrave from Chainalysis. The details of the companies involved and the network of responsibility behind Yieldnodes will be crucial during the trial.
In the complaint, Exceptional Media highlights false statements made by Chainalysis that labeled it as a fraudulent enterprise. The defendants globally published a report accusing Exceptional Media of financial fraud amounting to over $341 million. These harmful statements compromise the integrity and creditworthiness of Exceptional Media, severely damaging their business and reputation.
Compensation claims are based on defamation per se, as the statements were presented as facts without any privilege or authorization to third parties. This case raises important questions about legal responsibility and the consequences of harmful statements in the crypto sector and digital finance.
Hot Take: Exceptional Media Files Defamation Lawsuit Against Chainalysis for Labeling Yieldnodes as a Crypto Scam
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