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Texas court issues default judgment against Bancor DAO after it ignores subpoena

 federal judge in Texas issued a default judgment against Bancor DAO (the decentralized financial platform Bancor) after failing to respond to an online subpoena. Judge Robert Pitman issued the judgment after Bancor DAO failed to appear to defend itself following a subpoena posted on the DAO forum in January 2024.

"Court clerk Phillip Delvin wrote on March 13th: "Defendant Bancor DAO failed to respond within the allowed time or otherwise defend itself, as the plaintiff has proven. The collective lawsuit involves investors claiming they lost tens of millions of dollars due to the exchange's failure to warn about liquidity issues during the peak withdrawal period in 2022.

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