Thai tycoon's Lightnet sued in Singapore over crypto tokens allegedly owed to ex-staff

Lightnet is co-founded by Chatchaval Jiaravanon, whose family controls the Charoen Pokphand Group

Claudia Chong

Published Fri, Jan 28, 2022 · 06:38 PM

FORMER employees of fintech startup Lightnet have dragged the company to court after Lightnet allegedly failed to issue cryptocurrency tokens promised to them in their employment contracts and consultancy agreements.

The two former executives, Ilya Zusman and Crystal Ma, are claiming an aggregate amount of US$1.37 million and a declaration that the company will release the remaining tranches of tokens still owed to them.

Lightnet is among a growing number of companies globally, including Binance, that have incorporated cryptocurrencies into staff compensation and benefit packages. The shift comes amid a proliferation of blockchain tech startups.

Zusman was director of digital finance and strategy at Lightnet. Court documents did not state Ma’s role in Lightnet, but her LinkedIn profi…