Elon Musk has refuted claims that he owns the crypto wallets that were allegedly involved in fraudulent Dogecoin trades. This comes as part of an ongoing class-action lawsuit that accuses Musk of manipulating the value of his favored digital currency. The lawsuit, filed in Manhattan federal court on June 7, alleges that Musk sold $95 million worth of Dogecoins. The complaint points to digital wallets supposedly owned by Musk and his company Tesla, which were linked to transactions made between April 3 and April 6. During this time, Musk changed his Twitter logo to the Dogecoin symbol, causing the cryptocurrency’s value to surge by 30%. However, Musk’s attorney, Alex Spiro, has vehemently denied the accusations in a letter to the plaintiff’s lawyer. Spiro argues that the wallets in question do not belong to Musk and questions the competence of the opposing counsel. The claim that Musk owned one of the wallets is based on a tweet he made on February 10, 2021, which revealed his purchase of a specific amount of Dogecoin. The lawsuit alleges that, at its peak value, Musk’s wallet held over $25 billion in Dogecoin. Spiro has until August to respond to the latest filing. The plaintiffs remain confident in the success of their case, while Musk has chosen not to comment at this time.
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