Private Crypto Lawsuits Surge in H1 2025 While Federal Enforcement Eases

Crypto class actions jump to 6 cases in the first half of 2025 compared to 7 in all of 2024, signaling increased private litigation activity.
Six crypto-related securities class-action lawsuits were filed in the first six months of 2025, according to Cornerstone Research’s midyear report. Seven such cases were filed during the entire 2024 calendar year.
Overall, securities class action activity remained stable, with 114 new filings in the first half of 2025 compared to 115 filings in the second half of 2024. However, crypto-related cases increased significantly during this period.
The six crypto lawsuits targeted different types of defendants. Three cases alleged misconduct by crypto issuers. One lawsuit targeted a crypto mining company. Two cases involved companies connected to the crypto industry, including mining equipment sellers and firms partnering with crypto ventures.
Burwick Law filed three of the six lawsuits, including cases against Pump.fun and the promoters of the LIBRA memecoin. Max Burwick, the firm’s founder, stated that civil litigation “often provides a vital path to accountability when other remedies have yet to catch up.”
Federal agencies, including the U.S. Department of Justice and the Securities and Exchange Commission (SEC), have reduced the frequency of direct enforcement actions under the current administration. Private litigation has continued during this period of decreased federal enforcement.
In 2024, seven crypto-related securities lawsuits were filed during a broader market downturn. The current year’s increase in filings comes as investors raised concerns about project disclosures, technological failures, and alleged misrepresentation.
The lawsuits cover various aspects of the digital asset industry, including tokens, mining operations, and related services. Plaintiffs use court systems to seek remedies for losses connected to these crypto-related investments and services.
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