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14/02/25
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Supreme Court Ruling Freezes $7 Million in Crypto Amid Ready Makers Inc. Dispute
Ready Makers Inc., a gaming firm specializing in Web3 technology, has secured a favorable ruling from the Supreme Court of Gibraltar, resulting in the freezing of approximately $7 million in cryptocurrency. This legal victory comes amid an ongoing dispute with its local subsidiary, Ready Maker (Gibraltar) Limited, and its CEO, Christina Macedo. The conflict centers around allegations that Macedo unlawfully seized control of the subsidiary and its PLAY token, which is utilized as a reward mechanism across games on Ready Games’ platform.
In a statement, Ready Games reported that nearly 440 million PLAY tokens — constituting nearly half of the total circulating supply — have been entrusted to a custodian appointed by the court. This judicial order also prohibits any attempts to re-register the Gibraltar firm or its associated tokens. The court’s directive covers over 300 million tokens held in wallets by PLAY Network, alongside nearly 151 million tokens that Ready Games asserts to possess.
Ready Games has accused PLAY Network and its CEO of violating trust agreements by asserting personal ownership of Ready Gibraltar and its related assets, including the PLAY token. The tokens were reportedly developed using Ready Games’ technology and funding. The aim of the legal proceedings is to reclaim control of the Gibraltar entity, which the founder stated is crucial for the company’s planned token launch.
Furthermore, a Delaware business court recently issued a temporary restraining order compelling PLAY Network to restore access to vital technological resources for Ready Games, including GitHub repositories and cloud accounts. The founder highlighted that this infrastructure was developed with substantial investment from prominent gaming investors, alleging that Ready Gibraltar misappropriated this technology.
Meanwhile, the PLAY token, launched in December, has seen a significant decline, dropping over 12% in a single day and currently valued at approximately $13.2 million, according to CoinMarketCap data. From its mid-December peak of $78.1 million, the token has plummeted by over 90%, now trading at just over one and a half cents.
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