tl;dr
The THORFi Recovery Group, representing creditors of the blockchain network THORChain, is considering legal action to recover over $200 million lost on January 23, 2025, from THORFi lending and savers programs. The group is represented by law firm McDermott Will & Emery, specialists in FinTech and b...
The THORFi Recovery Group is initiating legal action against THORChain and its principals to recover over $200 million lost in the THORFi lending collapse on January 23, 2025. Representing creditors of the blockchain network THORChain, the group is targeting losses from THORFi lending and savers programs.
The Recovery Group is backed by McDermott Will & Emery, a law firm specializing in FinTech and blockchain litigation, which houses the industry's largest crypto-exclusive legal team. Supporting them is J.S. Held, a consulting firm with expertise in crypto asset recovery, forensic analysis, and investigative services. Notably, J.S. Held has experience assisting with litigation in major crypto insolvency cases such as Celsius and Voyager.
Creditors affected by the collapse may join the lawsuit to seek recovery of their lost digital assets. The group advises investors to perform thorough due diligence, underscoring the inherent risks associated with such investments.
J.S. Held combines technical, scientific, financial, and strategic expertise to help clients mitigate risk and maximize value in high-stakes matters. They have a well-regarded cryptocurrency practice recognized for blockchain tracing and expert witness testimony, though they are not a public accounting or law firm providing legal advice.
This legal action highlights the increasing scrutiny and accountability efforts within the cryptocurrency space, especially following significant collapses that impact vast numbers of investors.
Investors interested in joining or learning more about the lawsuit are encouraged to reach out to the THORFi Recovery Group via their provided communication channels.