Bancor Hit With Lawsuit Over Impermanent Loss Protection Promises

Bancor, its operator BProtocol Foundation, and its founders face a class-action lawsuit filed in the U.S. District Court for the Western District of Texas. The suit alleges that Bancor deceived investors about its impermanent loss protection (ILP) and operated as an unregistered security. It contains six charges, including violations of the Securities Act of 1933 and the Exchange Act of 1934, and plaintiffs claim losses nearing 50% of their LP Program investment. BProtocol did not immediately respond to Decrypt's request for comment.