Former Partners Accuse Hashling NFT Founder of Fraud and Misappropriating Bitcoin Mining Profits in Lawsuit
The post Former Partners Accuse Hashling NFT Founder of Fraud and Misappropriating Bitcoin Mining Profits in Lawsuit appeared on BitcoinEthereumNews.com.
The NFT and Bitcoin mining sectors face scrutiny as Jonathan Mills, founder of Hashling NFT, is sued by former partners for alleged financial misconduct. This lawsuit raises critical questions about investor trust and accountability within the fast-evolving crypto landscape, highlighting pressing issues in asset management. As stated in the May 14 court filing, the plaintiffs accuse Mills of fraud and mismanagement, revealing a troubling narrative surrounding the handling of millions in investments. Legal troubles for NFT founder Jonathan Mills raise alarms over investment integrity in the crypto space as partners allege misappropriation of funds. Allegations of Fraud and Mismanagement in the NFT Space The lawsuit claims that Jonathan Mills misappropriated funds tied to both the Hashling NFT project and a connected Bitcoin mining venture. The plaintiffs assert that they were promised equity returns that never materialized, despite their significant financial contributions. In a filing with the Illinois district court, investors reported that Mills had allegedly misrepresented the financial health of both operations. These accusations paint a concerning picture of financial transparency—or lack thereof—in the rapidly shifting domain of digital assets. Investors Raise Alarm Over Equity Misrepresentation The investors allege that they contributed approximately $1.46 million across two NFT drops, only to experience a total absence of returns. Mills is accused of misleading them about the movement of funds to Satoshi Labs LLC, a holding company he established, further complicating their financial entitlements. In addition to the alleged fraud, the plaintiffs’ claims highlight a contentious shareholder agreement purportedly crafted by Mills. Described as “rife with errors,” this agreement ostensibly fixed equity stakes in a manner that heavily favored Mills, undermining the investors’ interests. Background of the Hashling NFT Project The Hashling NFT project emerged from initial discussions between Mills and one of the plaintiffs, Dustin Steerman. Despite Mills’ lack of funding…
Filed under: News - @ May 15, 2025 6:27 am