Sphere

April

<div class="cryptonews"> 
 <p class="is-style-lead">Crypto mining company Gryphon Digital is contesting a <a rel="noopener noreferrer nofollow" title="lawsuit" href="https://thebittimes.com/tag/lawsuit.html">lawsuit</a> from its former collaborator, Sphere 3D, over a significant bitcoin transfer.</p> 
 <p>Sphere 3D alleged in April that Gryphon Digital CEO Rob Chang transferred 18 bitcoins to an impostor pretending to be Sphere 3D’s CFO. </p> 
 <p>Eight more bitcoins were subsequently transferred to the address, bringing the total loss to 26 bitcoins — roughly $500,000 at that time.</p> 
 <p>Gryphon put assets at risk and “willfully” violated contractual duties, Patricia Trompeter, CEO Sphere 3D, said.</p> 
 <p>According to Cointelegraph, citing court documents submitted on Aug. 18, Gryphon wants the <a rel="noopener noreferrer nofollow" title="lawsuit" href="https://thebittimes.com/tag/lawsuit.html">lawsuit</a> <a rel="noopener noreferrer nofollow" title="dismiss" href="https://thebittimes.com/tag/dismiss.html">dismiss</a>ed and blames Sphere’s “gross negligence” for the incident.</p> 
 <p>“Sphere’s complete and utter lack of care with respect to the safeguarding, security, and control of its technology systems resulted in Gryphon sending over $500,000 worth of bitcoin to the hostile threat actor, which Gryphon has been unable to recover,” the documents noted.</p> 
 <p>The nature of the scam — a spoofing attack — involves a hacker pretending to be a trustworthy entity, targeting systems or individuals. Such schemes often play out across platforms like emails or IP addresses, with unauthorized access, information pilferage, or redirecting users to harmful activities.</p> 
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 <h2 class="wp-block-heading" id="gryphon-accuses-sphere-of-defamation">Gryphon accuses Sphere of defamation</h2> 
 <p>Gryphon has also clapped back with accusations against Sphere 3D, including breach of contract, negligence, and even defamation.</p> 
 <p>The legal spat follows a collaboration that kick-started in August 2021, which saw Gryphon overseeing Sphere 3D’s cryptocurrency mining operations. </p> 
 <p>Initially, a merger under Gryphon’s banner was in the cards. By April 2022, both entities abruptly halted merger talks, claiming it was a jointly-agreed move.</p> 
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Gryphon Digital wants Sphere 3D’s lawsuit dismissed

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