2,000 Person Class Action Suit Filed Against Bitcoin Conference Founder

Michael LaVere
  • Loss attorney David Silver has filed a 2,000 person class action suit against the founder of the "Massive Adoption: Memphis" cryptocurrency conference.
  • Defendant Jacob Kostecki has yet to refund ticket sales after the event was canceled on January 31. 

A class-action lawsuit has been filed against the founder of the “Massive Adoption” conference for bitcoin following his refusal to refund ticket sales. 

According to the initial complaint filed on May 7, Ashley Gentry was named as the lead plaintiff in a 2,000 person lawsuit against Colorado native Jacob Kostecki, creator of the “Massive Adoption in Memphis: Blockchain and Digital Assets” event.

The cryptocurrency conference was originally scheduled to be held in November 2019, before being rescheduled to February 2020. The event was subsequently called off on January 31. 

The lawsuit, filed in the District of Colorado by securities fraud and investment loss attorney David Silver, claims Kostecki promised event-goers a refund on tickets and packages within six months. 

The suit, referencing Kostecki’s promises, reads, 

Promises are like crying babies in a theater: they should be carried out at once.

Silver accused Kostecki of causing “significant financial loss” to ticketholders after failing to carry out his promise of a refund.  The class-action filing demands compensation for damages due to lost airfares, attorney fees and other applicable costs. 

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