DWF Maas and Falcon Digital have filed a lawsuit against crypto custodian BitGo in the London High Court, seeking $141 million in damages. The plaintiffs allege that BitGo breached a private over-the-counter agreement by selling locked-up tokens before the agreed vesting period expired.
The dispute centers on Falcon Finance and ESPORTS tokens, which BitGo allegedly received at a discount with a commitment to hold them until lock-up expiration. DWF claims that BitGo moved these assets to exchanges approximately two months early, causing significant downward pressure on token prices and eroding the value of their remaining holdings.
Key facts
- Claimants DWF Maas and Falcon Digital are seeking $141 million from BitGo.
- The lawsuit was filed in the London High Court on October 9, 2026.
- Allegations involve a breach of an OTC lock-up agreement for FF and ESPORTS tokens.
- BitGo is accused of selling discounted tokens roughly two months before vesting.
- DWF states it raised concerns with BitGo in April and May prior to filing suit.
- BitGo declined to comment on the allegations, which have not yet been tested in court.
Why it matters
The source documents that DWF argues selling into a thin market created heavy downward pressure, eroding the value of the tokens it still held.