Moshe Hogeg, the Israeli entrepreneur behind blockchain firm Stox (STX), has denied misappropriating investors’ funds in a response to the lawsuit filed against him. Online newspaper The Times of Israel reported the development on Saturday, Feb. 9.

As Cointelegraph wrote earlier in January, Chinese investor Zhewen Hu has sued Stox and its founder for $4.6 million. Hu claims to have invested a total of around $3.8 million worth of (ETH) in an open source, Ethereum-based prediction market platform.

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