Coinbase Global Inc., an American publicly traded trading platform, has been named in a new class action lawsuit for failing to provide two airdrops including Flare Network’s native token, FLR, and the accompanying Songbird (SGB) token. The lawsuit was filed in the United States District Court for the Northern District of California.
According to the case filed by HODL LAW CALI, the plaintiff’s attorney, Dallas Woody, and anyone who may join in, Coinbase has broken its agreement to participate in the Flare Network airdrop, which it promised in December 2021. According to the lawsuit, the Flare Network airdrop was supposed to be dispersed to every XRP holder based on a snapshot of account balances.
The terms noted that the Songbird token would be distributed first, followed by the deposit of FLR tokens for all users. According to the lawsuit, despite receiving distribution of both SGB and FLR tokens before the latter’s distribution on January 9 of this year, the trading platform has refused to give it to all qualified clients.
As seen in the lawsuit, rival exchanges have transferred their received FLR and SGB tokens to eligible users, and Coinbase’s delay or failure to do so on time has cost clients some money. The defendant is requesting that the court order Coinbase to credit customers’ tokens and compensate them for any losses they may have suffered.
The Flare Network airdrop has recently become one of the most acclaimed in the digital currency industry, with several trading firms expressing support. Despite the participation of exchanges such as Binance, the Flare Token experienced a large drop as many beneficiaries sold the tokens as soon as they received them.
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