FORT WORTH, Texas, March 28, 2014 /PRNewswire/ --A Tarrant County district judge entered a temporary restraining order against HashFast Technologies, LLC and HashFast, LLC, enjoining certain activities related to its Bitcoin wallets.
The TRO, entered on March 27, 2014, was obtained in connection with a lawsuit filed by Cypher Enterprises, a company based in Southlake, Texas. In the lawsuit, Cypher Enterprises claims it ordered-and paid for-Bitcoin mining computers and related hardware developed by HashFast. The complaint alleges HashFast promised the hardware would be delivered by a certain date, and when that date came and went without delivery, Cypher Enterprises cancelled its orders. Having paid for a majority of the orders themselves in Bitcoins, Cypher Enterprises then demanded HashFast issue its refund as paid, but HashFast failed to reply and, to date, has not issued a refund of any kind.
On its website, HashFast claims to be "an industry leader in Bitcoin mining technology" and "the company to watch in Bitcoin mining, a standard-bearer for quality and innovation."
"Outside of the Mt. Gox bankruptcy proceedings, I'm not aware of any other Texas courts which have entered a restraining order like this," says Cypher Enterprises' lawyer, Robert Bogdanowicz. "It speaks to the legitimacy of cryptocurrencies and a growing understanding of their value and importance to businesses."
You can download a PDF copy of the lawsuit here and a copy of the TRO here. To learn more about Deans & Lyons, visit www.deanslyons.com.
SOURCE Deans & Lyons LLP
