Chiliz,
a
leading
blockchain
platform
specializing
in
sports
and
entertainment
fan
tokens,
is
embroiled
in
a
legal
dispute
with
a
former
Korean
employee
who
claims
the
company
failed
to
deliver
$10
million
worth
of
promised
tokens
as
part
of
his
compensation
package.
Local
media
reported
on
June
26
that
the
former
employee
—
identified
as
Mr.
A
—
worked
for
Chiliz
from
2020
to
2022.
He
alleges
that
despite
fulfilling
his
job
duties,
he
did
not
receive
the
agreed-upon
payment
in
Chiliz
Coin
(CHZ).
Local
law
enforcement
confirmed
that
Mr.
A
filed
a
lawsuit
on
April
19
against
Chiliz
officials.
According
to
a
NoCutNews
report,
the
dispute
escalated
when
the
former
employee
raised
concerns
about
the
unpaid
tokens,
leading
to
his
termination
and
subsequent
lawsuits.
In
response,
Chiliz
filed
civil
and
criminal
lawsuits
against
Mr.
A,
accusing
him
of
breaching
confidentiality
agreements
and
spreading
false
information
to
the
media.
Chiliz’s
civil
suit
seeks
damages
for
reputational
harm,
while
the
criminal
case
focuses
on
defamation
allegations.
However,
the
legal
battle
has
not
been
entirely
favorable
for
Chiliz.
In
April,
Mr.
A
lost
the
civil
case
for
damages,
while
prosecutors
dropped
the
defamation
charges
due
to
insufficient
evidence
in
the
criminal
case,
indicating
that
Chiliz’s
claims
did
not
meet
the
required
legal
standards
for
defamation.
Founded
in
2018
and
headquartered
in
Malta,
Chiliz
has
made
significant
strides
in
the
blockchain
industry
with
its
Socios
platform.
Socios
allows
fans
to
purchase
Fan
Tokens,
giving
them
voting
rights
on
club
decisions
and
access
to
exclusive
experiences.
Chiliz
has
partnerships
with
over
170
major
sports
organizations
globally,
including
FC
Barcelona,
Paris
Saint-Germain,
and
Manchester
City.
It
has
recently
expanded
into
the
Korean
market
through
partnerships
with
the
K
League.
The
case
highlights
the
complexities
and
challenges
facing
the
rapidly
evolving
blockchain
and
crypto
industries,
where
regulatory
and
legal
issues
continue
to
emerge
as
companies
expand
their
innovative
digital
services
worldwide.
Mentioned
in
this
article
In:
Legal
Go to Source
Author: Assad Jafri
