Legal Options for Hacked Gemini Exchange Users

Gemini, one of the largest US based crypto currency exchanges in the United States, requires that Bitcoin users sue it through binding arbitration before National Arbitration and Mediation, or NAM.  MDF Law has experience representing cryptocurrency investors in lawsuits against Gemini administered through NAM.   NAM stands for National Arbitration and Mediation[1].  NAM is a type of alternative dispute resolution forum that is based in New York city. Gemini is also based in New York.   

How to Sue Gemini Exchange

Step 1:  Users who have a dispute against Gemini should first review the Gemini User Agreement[2], which is frequently updated by Gemini.  This User Agreement governs how disputes between users and Gemini are adjudicated. 

Step 2: Gemini’s current User Agreement, requires users to send a “Notice of Dispute” to support@gemini.com[3].  The User Agreement details specific information, which must be included in the Notice of Dispute, including a description of the dispute.  Users must follow this step before filing an arbitration against Gemini.

Step 3: If you and Gemini do not resolve your complaint within 60 days, then you can file an arbitration before NAM.  Users must follow NAM’s procedural rules for filing cases, which are available on their website.

Common Complaints Against Gemini

Sim Swaps, phishing scams and customer service scams are all common technology scams, which pose unique threats to Gemini users.

1. SIM swapping.  SIM swapping[4], also known as SIM hijacking or SIM jacking, is a type of identity theft where a malicious actor gains control of a victim’s mobile phone number by tricking the mobile carrier into transferring the victim’s number to a new SIM card controlled by the attacker. Once the attacker has control of the victim’s phone number, they can intercept two-factor authentication (2FA) codes, reset passwords, and gain access to accounts tied to that phone number, such as email, banking, and cryptocurrency wallets. 
2. Phishing Scams. Phishing is a type of cyber attack where attackers attempt to trick individuals into divulging sensitive information, such as usernames, passwords, credit card numbers, or other personal details. Phishing typically occurs through email, instant messaging, or fraudulent websites that mimic legitimate services. The goal of phishing is to steal credentials or financial information, often leading to identity theft, financial loss, or unauthorized access to accounts.
3. Tech Support Scams. Customer service scams, also known as tech support scams, involve fraudsters pretending to be legitimate customer service representatives from well-known companies (such as tech, financial, or retail organizations) in order to trick victims[5] into providing personal information, payment details, or remote access to their devices. These scams typically occur over the phone, via email, or through fraudulent websites that pose as official customer support pages.  

MDF Law Can Help

Our law office has experience representing Bitcoin and cryptocurrency investors in complex arbitration matters.  Our attorneys have sued Gemini, as well as other cryptocurrency exchanges, including Coinbase.  Contact us for a free and confidential evaluation of your claim.

Do you Have a Case Against Gemini?