New York seeks $1.3B from NovaTech as 11,000 victims face delay
An October 22 motion follows a 2025 liability ruling, while separate promoter payment obligations extend through 2029.
New York is seeking $1.3 billion from NovaTech, according to CryptoSlate, in a case that has left about 11,000 victims facing further delays. The request is tied to an October 22 motion filed after a liability ruling in 2025.
Liability ruling and motion
The October 22 filing follows the 2025 liability finding, the report said. The $1.3 billion figure represents the amount New York is demanding from NovaTech in connection with the case.
Promoter obligations
Separate promoter obligations include payments by Ciceron scheduled in installments through 2029, according to the report. That schedule runs alongside the state’s effort to recover funds.
The case adds to a broader pattern of regulators pursuing restitution and penalties in crypto-related fraud matters, while the timeline for victims remains unresolved.