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Daniel Ianello has asked a Tennessee court to dismiss a lawsuit accusing him of orchestrating an exit scam after taking over crypto project The Phoenix.
Daniel Ianello, a man accused of orchestrating an exit scam involving a crypto project known as The Phoenix, has filed a motion to dismiss a lawsuit brought against him in Tennessee federal court.
According to the complaint, Ianello allegedly took over Phoenix Community Capital in October 2022 and performed what closely resembles an exit scam. After taking control of The Phoenixâs assets, he allegedly shut down its smart contracts shortly after.
Plaintiffs claim he then âmoved hundreds of thousands of dollars in investor money, began deleting posts on Discord [âŠ] deleted earlier versions of Phoenixâs website, and announced the âsmart contractsâ would not be restored.â
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