Citadel Securities Accuses Crypto Startup Portofino Technologies of Stealing Trade Secrets

Citadel Securities has accused the founders of startup Portofino Technologies and their former employees of stealing trade secrets.

According to the lawsuit, Léonard Lancia and Alex Casimo used the company’s confidential information while they were securing funding and launching the business.

Citadel Securities expected to be compensated for its loss and termed the defendants’ actions as “corporate harassment.”

Portofino Technologies raised $50 million from various investors in September 2022 and announced that their technology enables high-frequency trading of digital assets.

Moreover, they recorded billions of dollars in trading volumes on different exchanges and over-the-counter platforms (CEXs, DEXs, OTCs).