Sphere 3D has filed a lawsuit against its partner Gryphon Digital for losing $500,000 worth of Bitcoin in a reported spoofing attack. The lawsuit was filed with New York’s Southern District Court on April 7.

Sphere 3D’s CEO, Patricia Trompeter, said about the subject:

“Today we filed litigation against Gryphon, the custodial management services provider of our blockchain and cryptocurrency-related services. Gryphon has put the Company’s assets at significant risk and willfully violated their contractual duties.” 

The complaint states that Gryphon Digital’s CEO, Rob Chang, wired 18 BTC  in January to a scammer who disguised himself as Sphere 3D’s chief financial officer. Chang sent another 8 BTC to the same address a few days later. The company seeks damages in excess of $75,000, exclusive of interest and costs.

Sphere 3D sues its partner for Bitcoin loss.

About Sphere 3D

Sphere 3D is a publicly-traded technology company based in San Jose, California. The company was founded in 2007 and has become a leading virtualization and data management solution provider. 

Sphere 3D offers a range of products and services, including virtual desktop infrastructure, cloud computing, storage solutions, and data migration services.

About Gryphon Digital

Gryphon Digital is a leading cybersecurity and cloud solutions company based in the United States. The company was founded in 1997. 

It offers customized solutions to meet clients’ needs in various industries, such as healthcare, financial services, and government. Gryphon’s services include 24/7 managed security, vulnerability assessments, penetration testing, compliance management, and cloud migration.