This article has been updated to reflect Moshe Hogeg’s relation to Stox. Moshe Hogeg, an Israeli entrepreneur, has denied misappropriating investors’ funds in a response to the lawsuit filed against him. Online newspaper The Times of Israel reported the development on Saturday, Feb. 9. Hogeg is the co-founder, managing partner and chairman of Singulariteam, which led an $8 million Series A funding round for blockchain firm Stox (STX) in 2015. As Cointelegraph wrote earlier in January, Chinese investor Zhewen Hu has sued Stox and Hogeg for $4.6 million. Hu claims to have invested a total of around $3.8 million worth …

A Chinese investor has sued a prominent Israeli crypto entrepreneur and his blockchain firm Stox (STX) over alleged fraud, English-language newspaper The Times of Israel reports Jan. 25. The investor, Zhewen Hu, is suing Stox and its founder for $4.6 million, according to the report. Hu allegedly invested a total of around $3.8 million worth of Ethereum (ETH) in the blockchain firm — an open source, Ethereum-based prediction market platform dubbed Stox, founded by Moshe Hogeg. Hogeg is well-known for his multiple cryptocurrency-related ventures — which include founding blockchain smartphone developer Sirin Labs, and serving as chairman of LeadCoin, a …

Stox, a prediction market ICO, has been gaining traction since their initial ICO at the beginning of August. First, Floyd Mayweather, who netted hundreds of millions of dollars in his historic bout against Conor McGregor, said he was planning to “make a $hit t$n of money” on Stox, now famous Barcelona and Uruguayan striker Luis Suarez has shown his interest. Suarez also posted on Instagram about Stox, indicating that he would be predicting a Roger Federer crown for the US Open, while also urging others to sign up to Stox along with him. Growing traction Stox has hit the headlines …