Swan Bitcoin has filed a lawsuit against a group of former employees and consultants, accusing them of stealing its lucrative bitcoin mining business and using its trade secrets to create a competing operation called Proton Management. The lawsuit alleges that the defendants received approval from Tether, which had previously funded Swan's mining operation. Swan claims that Tether engaged in double-dealing, secretly meeting with Swan's former head of mining and suggesting that Swan had no value to Tether. The lawsuit seeks permanent injunctions, restitution, disgorgement, and punitive damages against Proton. Tether has denied any wrongdoing and is not named as a defendant in the suit.



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