Chiliz facing lawsuit filed by former employee over $10 million unpaid tokens, wrongful termination

Chiliz, a starring blockchain level specializing successful sports and amusement instrumentality tokens, is embroiled successful a ineligible quality with a erstwhile Korean worker who claims the institution failed to present $10 cardinal worthy of promised tokens arsenic portion of his compensation package.

Local media reported connected June 26 that the erstwhile worker — identified arsenic Mr. A — worked for Chiliz from 2020 to 2022. He alleges that contempt fulfilling his occupation duties, helium did not person the agreed-upon outgo successful Chiliz Coin (CHZ).

Local instrumentality enforcement confirmed that Mr. A filed a suit connected April 19 against Chiliz officials.

According to a NoCutNews report, the quality escalated erstwhile the erstwhile worker raised concerns astir the unpaid tokens, starring to his termination and consequent lawsuits.

In response, Chiliz filed civilian and transgression lawsuits against Mr. A, accusing him of breaching confidentiality agreements and spreading mendacious accusation to the media. Chiliz’s civilian suit seeks damages for reputational harm, portion the transgression lawsuit focuses connected defamation allegations.

However, the ineligible conflict has not been wholly favorable for Chiliz. In April, Mr. A mislaid the civilian lawsuit for damages, portion prosecutors dropped the defamation charges owed to insufficient grounds successful the transgression case, indicating that Chiliz’s claims did not conscionable the required ineligible standards for defamation.

Founded successful 2018 and headquartered successful Malta, Chiliz has made important strides successful the blockchain manufacture with its Socios platform. Socios allows fans to acquisition Fan Tokens, giving them voting rights connected nine decisions and entree to exclusive experiences.

Chiliz has partnerships with implicit 170 large sports organizations globally, including FC Barcelona, Paris Saint-Germain, and Manchester City. It has precocious expanded into the Korean marketplace done partnerships with the K League.

The lawsuit highlights the complexities and challenges facing the rapidly evolving blockchain and crypto industries, wherever regulatory and ineligible issues proceed to look arsenic companies grow their innovative integer services worldwide.

The station Chiliz facing suit filed by erstwhile worker implicit $10 cardinal unpaid tokens, wrongful termination appeared archetypal connected CryptoSlate.