Investors burned by a Binance meltdown have raised $5 million for a lawsuit against the crypto exchange

A group of investors claiming $20 million in damages from a Binance service outage has raised $5 million to sue the crypto exchange, according to the Financial Times.

Binance has attributed the freeze to technical problems and said it took “immediate steps to engage with users affected by the outage.” Yet the case will likely be complicated by the ambiguous legal status of Binance.