Lawyers who won a lawsuit against Craig Wright filed a class action lawsuit against Bitfinex and Tether. The companies are accused of large-scale manipulations of the crypto market.

The class action lawsuit was filed with the District Court in the Southern District of New York against Bitfinex and its affiliated stablecoin issuer Tether. The new lawsuit claimed $1.4 trillion in damages. It was filed by the Vel Freedman and Kyle Roche, lawyers who successfully sued Craig Wright in Florida federal court,

Bitfinex and Tether are accused of violating US laws governing commodity exchanges. The plaintiffs believe that both companies used “sophisticated scheme that coopted a disruptive innovation — cryptocurrency — and used it to defraud investors, manipulate markets, and conceal illicit proceeds.”

The lawsuit also claims that Tether violates Sherman’s antitrust laws because “Tether controls more than 80% of the market for stablecoins in the United States and the world,” giving Tether “monopoly power.” In addition, the lawsuit claims that defendants violate the RICO federal decree against organized crime and the New York State Commercial Practices Act.

“Plaintiffs David Leibowitz, Benjamin Leibowitz, Jason Leibowitz, Aaron Leibowitz, and Pinchas Goldshtein individually and on behalf of all others similar situated, bring this action against iFinex Inc., BFXNA Inc., BFXWW Inc., Tether Holdings Limited, Tether Operations Limited, Tether Limited, Tether International Limited, DigFinex Inc., Philip G. Potter, Giancarlo Devasini, Ludovicus Jan van der Velde, Reginald Fowler, Crypto Capital Corp., and Global Trade Solutions AG.”

In response to the lawsuit, Tether published a statement refuting all allegations.

“Tether vigorously disputes the findings and conclusions claimed by that source, which rely on flawed assumptions, incomplete and cherry-picked data, and faulty methodology.”

According to Tether, the allegations are an attempt to undermine the growth and success of the entire digital token community.