Lawsuit Filed Against Canadian Blockchain Firm Vanbex’s Former Contractor for Spreading Rumors


In the business world, suing for defamation of character or anything related is fairly common. After all, Craig Wright was only recently issued legal orders to anyone who dared to say he was not Satoshi Nakamoto, the creator of Bitcoin. Now, the Vanbex blockchain firm is taking action against a contractor that used to work for them, saying that he’s spreading lies about their company. Vanbex announced the legal action against Kip Warner on May 1st through a press release with PR Newswire.

Before understanding exactly why Vanbex is so mad, there is a little backstory to hear. On March 14th, the personal assets of founders Kevin Hobbs and Lisa Cheng were frozen by Canadian police, citing allegations that the two individuals were involved in a fraudulent initial coin offering (ICO).

The court documents state that the Royal Canadian Mounted Police (RCMP) discovered that the founders were defrauding investors, aiming to use the collected ICO funding for their own personal benefit. According to the police, the founders had no intention of actually developing products with the investor purchases of the Etherparty (FUEL) token.

After the reports came out about the lawsuit, Cheng spoke with Cointelegraph, saying that Warner had “created files with several government entities,” which included their false claims. Cheng also said that the business accounts had not been frozen, which contradicts the reports.

The lawsuit against Warner says that the former contractor for Vanbex had made multiple false statements, including that Vanbex is a shell company, and that the business was illegal. Cheng and Hobbs believe that Warner had contacted a personal acquaintance within the police department in Vancouver and the RCMP with the intention of harming the founders and the business.

Furthermore, the lawsuit against Warner says that he is well-known for his conspiracy theories and that he was responsible for causing an investigation that he knew came from false claims. The company issued multiple statements about what is “true” about the company, from their perspective. However, it is important to note that the authenticity of these claims will ultimately be decided by the courts now. Here are a few of the statements from the press release:

  • Vanbex is a “legitimate consulting and development business” that operates legally, and not a shell company.
  • The company has not been aware of any investigation by the RCMP or the CRA until they were notified of the civil claim in March 2019.
  • Funds meant for the company have never been misappropriated, gambled, or involved in unlawful activities.
  • The available assets are lawfully owned by the individuals, and they haven’t used the proceeds or instruments of the company to add to their own assets.

The full press release can be viewed at www.newswire.ca.

To read the lawsuit against Warner, view the PDF version here.

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