NovaBridge securities claim
Customers and token holders who lost deposits when NovaBridge froze withdrawals and filed for bankruptcy — after being sold “safe” crypto yield — may be part of a securities claim.
NovaBridge securities claim
NovaBridge ran a US-facing crypto exchange and a product it called “NovaBridge Earn,” which promised up to 11% a year and was marketed as “safer than a bank.” It also sold its own token, NBX, in a 2021 offering. The claim is that the NBX offering and the Earn program were unregistered securities, sold to the public without the disclosures the law requires.
In November 2024 NovaBridge halted withdrawals with roughly $1.9bn of customer liabilities and a large shortfall, and filed for Chapter 11. Customers who had been told their money was safe could not get it back.
- Program reference
- WG-US-2026-0488
- Respondents
- NovaBridge Digital Assets Inc.; its founders and promoters
- Forum
- U.S. District Court; Chapter 11 proofs of claim
- Basis
- Securities Act §5/§12(a)(1); §10(b)/Rule 10b-5
- Period
- Mar 2021 – Nov 2024
- Registration closes
- Apr 30, 2027
- Fee basis
- Contingency — no fee unless recovery
- Funder
- Ardsley Legal Capital LP
Registering commits you to nothing. No fee is payable unless the program recovers damages.
What was marketed, and what was true
NovaBridge's marketing and its collapse tell two different stories. The claim is the difference.
Safety
The platform was marketed as solvent and secure when it is alleged to have been neither.
Registration
The NBX token and the Earn product are alleged to be unregistered securities sold to the public.
Yield
The advertised yield depended on a model the platform could not sustain.
NovaBridge halted withdrawals in November 2024 with about $1.9bn of customer liabilities and filed Chapter 11. The securities claim is pursued alongside proofs of claim in the bankruptcy; recoverable amounts are subject to the estate.
- Period
- Mar 2021 – Nov 2024
- Customer liabilities
- ~$1.9bn
- Advertised yield
- up to 11% APY
- Source
- The offering materials, marketing and the Chapter 11 filings
“Safer than a bank” was a securities pitch. It needed the disclosures of one, and had none.
- Basis
- Securities Act §5/§12(a)(1); 10b-5
- Securities
- NBX token; the Earn product
- Scope
- Opt-out class (US holders)
- Bankruptcy
- Proofs of claim in Chapter 11
- Funding
- Contingency; funded
A product sold to the public with the promise of a return on other people’s efforts is a security, and must be registered and sold with disclosure. The claim is that NovaBridge’s NBX token and its “Earn” product were unregistered securities, sold with misrepresentations about safety and solvency.
That is actionable under the Securities Act, for the unregistered offering, and under §10(b) and Rule 10b-5, for the misstatements — pursued alongside proofs of claim in the Chapter 11, so customers’ two routes to recovery are run together.
It is an opt-out class for US holders, coordinated with the bankruptcy estate.
Recovery of deposits
The balances and token value customers lost when withdrawals were halted.
Securities damages
Damages for the unregistered offering and the misrepresentations, from the company and its promoters.
Costs of the action
Recovery of the costs of the action, as the court allows.
The eligibility test, in full
This is the published class test. The questionnaire on this site applies exactly these criteria and tells you the reason for its answer.
- NovaBridge insiders, promoters and their families
- Accounts only outside the period
- Anyone who has signed a release of these claims
Already filed a proof of claim in the bankruptcy? Register anyway — we coordinate the securities claim with your bankruptcy claim so both are pursued together.
Everything that has happened, dated
The record is published in full. Registered claimants see the same timeline in the portal, with their own claim marked on it.
The matter on the record
Everything a claimant, funder or journalist needs to check what we say against what we filed.
Case updates
Published whenever the position changes, and emailed to registered claimants the same day.
Registration open to April 30, 2027
Registering coordinates your securities claim with your proof of claim in the bankruptcy.Securities analysis complete
Analysis of the NBX offering and the Earn product supports the pleaded case that both were unregistered securities.Claims register opens
Customers and token holders can now register, and coordinate with the bankruptcy.This matter, answered
The questions claimants ask most often about this matter.
I already filed a claim in the bankruptcy. Do I still register?
Yes. Registering lets us coordinate your securities claim with your bankruptcy proof of claim, so both routes to recovery are pursued together rather than one at the expense of the other.
Will I get my crypto back?
No honest answer promises that. Recoverable amounts depend on the bankruptcy estate and on the securities claim against the company and its promoters. We tell you plainly what each route can and cannot do.
I only used Earn, not the token. Am I covered?
Likely yes. The claim covers the Earn product as well as the NBX token; both are pleaded as unregistered securities. Register and we will confirm your position.
What does it cost me?
Nothing unless the claim recovers. The firm acts on a contingency basis with third-party funding, and every deduction is set out before you sign.
Four minutes now, and nothing else until we ask
Check your eligibility, register your claim, and we will do the rest. Registration closes on April 30, 2027.