Helbiz Inc is facing a class-action lawsuit from investors for its plan to destroy the smart contract underpinning its ERC-20 token, HelbizCoin (HBZ). The electric scooter company initially claimed to have raised almost $40 million dollars for a cryptocurrency billed to disrupt the ride-sharing economy in 2017.
In a July 6 memorandum filed by the plaintiffs in support of their request for a temporary restraining order and preliminary injunction against the firm, the investors claim to represent approximately 20,000 individuals who now face the permanent destruction of their private property.