🐰 Playboy files fraud lawsuit against blockchain startup

Adult entertainment publisher Playboy is suing a Canadian blockchain startup for fraud and breaching a contract the two companies signed earlier this year. According to a lawsuit filed in early August with the Los Angeles Superior Court, Playboy and Global Blockchain Technologies (GBT) signed a memorandum of understanding in March stating that GBT would help Playboy integrate the Vice Industry Token (VIT) onto its platforms. Playboy argued that GBT did not provide any services supporting the technology, rebranding the VIT site or pay the $4 million. However, GBT did use Playboy's brand to attract investors.