Bitstamp has initiated legal action over more than $1m in disputed funds related to the sale of nearly 100m XRP last month.
Bitstamp, which operates a Ripple gateway and bitcoin exchange, filed a complaint for interpleader on 1st April in the US District Court in the Northern District of California. Jed McCaleb, the founder of both Ripple Labs and Stellar, and two of McCaleb’s family members were named in the complaint.
The $1,038,172 in disputed funds were used by Ripple Labs to purchase 96,342,361.6 XRP put up for sale through an account allegedly controlled by McCaleb, according to the complaint.
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