There has been a scandal in the crypto money industry as of today. Public cryptocurrency exchange Voyager Digital has faced allegations of hidden fees from trading, according to a lawsuit filed in Miami federal court on Dec.
Class Action Filed Against Voyager Digital
A class action lawsuit was recently filed against the public cryptocurrency exchange Voyager Digital. This lawsuit accuses the crypto exchange of receiving hidden commissions despite claims to be commission-free.
The lawsuit filed by Florida resident Mark Cassidy alleges that although Voyager claims to be a commission-free platform for users, it uses a variety of methods to collect hidden commissions on all of its transactions, including maintaining the spread.
In addition, Cassidy stated that he wanted the Voyager Defendants to be compensated, along with “service and injunctive relief to end unfair and deceptive marketing and sales practices.”
These practices generate more hidden commissions than Voyager collects from the announced commissions of its competitors. One of the experts in the case stated in his statements on the subject that the damage to Voyager’s customers could exceed $ 1 billion.
It was not delayed to explain from Voyager
Voyager’s chief communications officer, Michael Legg, made the following statements in response to these allegations:
“This action is absolutely fake and has no value. We look forward to addressing this issue through appropriate legal channels.”
While no further statement has been made by the stock market so far, users of the popular cryptocurrency exchange want these allegations to be clarified as soon as possible.