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RIYADH: Bitcoin, the leading cryptocurrency internationally, traded lower on Tuesday, falling by 3.54 percent to $21,100.51 as of 8:30 a.m. Riyadh time. Ethereum, the second most traded cryptocurrency, was priced at $1,424.45 falling by 6.54 percent, according to data from Coindesk. Apecoin and NFT sales may expose Yuga Labs to a class-action lawsuit Yuga Labs has been accused
Scott+Scott has gone on to make serious allegations against Yuga Labs. The lawyers stated that the company firstly earned millions of dollars by selling the NFT unethically and then went on to introduce its own cryptocurrency, just to fleece more investors. Ape coin started trading in March, but the rise of the cryptocurrency was short lived due to the market crash which occurred in May.
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Yuga Labs, has warned of a "persistent threat group" targeting non-fungible token (NFT) holders and communities