DWF Labs subsidiary sues BitGo for breach of OTC agreement, seeking $141 million

According to a report by The Financial Times, DWF Maas and Falcon Digital, subsidiaries of DWF Labs, have sued crypto custody firm BitGo at the London High Court, alleging that it breached an over-the-counter (OTC) agreement by selling Falcon Finance (FF) and ESPORTS tokens before the stipulated lock-up period expired, leading to a decline in the tokens' prices. According to the complaint, the agreement stipulated that the tokens would be purchased at a discount, subject to a three-month lock-up period followed by a phased unlock schedule. DWF alleges that BitGo transferred the tokens to an exchange approximately two months prior to the initial unlock, exerting downward pressure on the market and diminishing the value of its remaining holdings, for which it is seeking $141 million in damages. BitGo has declined to comment on the lawsuit, and the allegations remain unadjudicated.