Dinger Token Class Action

One or more plaintiffs are filing and prosecuting Dinger Token, , & its technology officers, for perpetrating a fraudulent scheme through the unregistered sale of the crypto asset security, Dinger Token.

According to the complaint, the defendants promised a 'suite of products that make it easy for anyone to bring their Web 3.0 ideas to life' but instead of delivering, they wiped out millions in market capitalization, withdrew crypto assets from the project, & misappropriated investor funds for personal use.

Decentralized finance claims to deliver transparency & predictable outcomes, but unregistered offerings lack the disclosures & accountability that the law demands, & they attract scammers like Dinger's creator, who use these vulnerabilities to enrich themselves at the expense of others.

According to the complaint, in marketing Dinger Token, the project assured investors that funds were safely locked & could not be withdrawn by anyone, including the defendants, while held in Dinger's liquidity pool, a collection of investor funds that provides liquidity to facilitate trading in the asset. However, as alleged, large portions of the liquidity pool were never locked, & the Defendants misappropriated millions of dollars to fund startup companies 'SuperBonsai' & 'Nectar Hard Seltzer', purchase cars, extravagant travel, luxury homes, & other things.

We urge investors to continue to exercise extreme caution in this space, as bad actors exploit the popularity of crypto assets to make promises while only delivering a crash landing.

The complaint alleges that Dinger Token skyrocketed in price by more than 5,200 percent from October 23, 2021 to October 29, 2021, & reached a market capitalization exceeding $16.8 million before its price plummeted by 99 percent when the public learned, by Dec 14, 2021, that Dinger's liquidity pool was not locked as claimed.

After this plunge, the token's creator used misappropriated assets to make large purchases of Dinger to prop up its price & manipulate the market. He also allegedly used an account he opened on a trading platform to buy & sell Dinger to create the impression of market activity, a practice known as wash trading.

The class action, will be filed in the U.S. District Court for the Southern District of California, charges defendants with violating the registration & anti-fraud provisions of the Securities Act of 1933 & the anti-fraud provisions of the Securities Exchange Act of 1934.

We appreciate the assistance of the U.S. Attorney’s Office for the Southern District of California, which files a parallel criminal action, & the FBI.