Kraken Notifies XRP Holders Of Potential Benefits From Zakinov Case
09 Februar 2024 - 7:00PM
NEWSBTC
Crypto exchange Kraken started notifying affected XRP holders about
the potential monetary benefits they could receive from the class
action lawsuit against Ripple. The exchange recently emerged
victorious in the Zakinov v. Ripple Case. The exchange successfully
intervened to protect its customers’ data from being shared without
their consent. Related Reading: Ripple Initiates Large XRP
Transactions Post Legal Setback Kraken Begins The Notification
Process Kraken, one of the largest crypto exchanges in the world,
intervened in the Zakinov v. Ripple lawsuit, seeking to protect its
customer’s privacy and data. The court ruling allowed Kraken to
inform the affected users about the class action against Ripple,
ultimately giving the customers the option to decide whether to
participate in the lawsuit. Kraken has now begun to notify eligible
customers about the potential monetary benefits from the Zakinov v.
Ripple lawsuit. The notification is aimed at Kraken users who
purchased XRP during the previously established period, as the
email stated: Our records indicate that you have purchased XRP on
Kraken between July 2, 2017 and June 30, 2023, which means that it
might be within your rights to receive money or benefits that come
from the lawsuit, depending on the outcome. Yassin Mobarak, Dizer
Capital Founder, was among the recipients, and he shared part of
the email on X (formerly known as Twitter), expressing his surprise
about the notification and the possibility of earning a profit from
his XRP holdings through the class action lawsuit. I always thought
I would make money from my $XRP holdings, but not like this 😂 PS.
First I thought this was a scam email, but now I think it's real.
pic.twitter.com/4jhLuUSqEt — Yassin Mobarak 🪝 (@Dizer_YM) February
9, 2024 Mobarak expressed his initial disbelief in the email’s
legitimacy, as recent phishing attacks exploited official email
accounts of actors in the Web3 industry and exposed users to a
massive and sophisticated phishing campaign. The legitimacy of the
emails was doubted by several Kraken customers who sought
confirmation from the exchange’s official X account. Kraken’s
support team confirmed the email as safe and authorized by the
exchange. Next Steps For XRP Holders Following the notification,
Kraken has updated its support page to provide customers with
further details about the class action lawsuit. The exchange
addressed doubts such as who the affected parties are, clarifying
that it “only applies to class members who purchased XRP within the
United States during the relevant class period” and offering
further information about the lawsuit: The lawsuit also claims that
persons or entities who purchased XRP during the class period (July
3, 2017, to June 30, 2023) have the right to recover (a) the
consideration paid for the XRP, with interest, if they retained the
XRP, less the current price of the XRP or upon tendering the XRP,
or (b) damages if they sold the XRP at a loss. Lastly, the exchange
presented two options for the affected customers: do nothing or ask
for an exclusion from the lawsuit. As mentioned in the email you
received, you have the option to either do nothing or exclude
yourself. For more details, please visit the support article linked
below. 👉 https://t.co/qGViqcahTw Best,Kraken Support 🐙 — Kraken
Support (@krakensupport) February 8, 2024 If the customer decides
to do nothing, they will keep the possibility of getting the money
or benefits from the lawsuit’s resolution. However, they
automatically give up on any rights to sue Ripple separately in the
future. If they decide to be excluded from the class action and the
potential benefits, XRP holders maintain the right to sue the
defendant and must send a signed “Exclusion Request” statement by
April 5, 2024. Related Reading: Exploit Causes XRP Price Crash:
Ripple Co-founder Discloses Losses Of $113 Million XRP is trading
at $0.52325 in the hourly chart. Source: XRPUSDT on TradingView.com
Featured image from Unsplash.com, Chart from TradingView.com
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